The cotton price in the country has risen sharply after receiving high orders from the overseas buyers, which increase the prospects for higher exports in the current financial year.
Ahsanulhaq, chairman of the Cotton ginners Forum, said the price of cotton had reached Rs6400 after an increase of Rs100 per meter while the price of lint cotton also increased.
Pakistan has received offers and now the export of raw cotton to Bangladesh, Indonesia and Vietnam was initiated, which led to a rising price for the goods.
The temperature in Punjab and Sindh cotton has also been adjusted, which caused the attack of pests, in particular white flies, in the mounting areas.
The chairman said that cotton production had healthy signs and that the goods rose by 37 per cent by 15 October 2017, following the recent arrival of the Cotton Coffers Association.
The country’s production reached a milestone of 5.984 million bales, while cotton production in Punjab rose 55 percent to 3 million bales, while the field from Sindh production rose 22 percent to 2.9 million bales. Pakistan cottonyear starts from July to April.
Source: Pakistan Observer