Cotton prices in Pakistan has reached a record high amid supply constraints.
Ehsan-ul-Haq, Chairman of the Cotton Ginners Forum, said that due to favorable weather conditions this year, cotton cultivation in the coastal regions of Sindh was higher than before hence, ginning has started two weeks before the schedule. Two ginneries in Tando Adam and Burewala began Ginning operations a few days ago with new ginning equipment.
New ginning season in Pakistan traditionally begin in the second week of June.
He said the first shipment of 200 bales of cotton was delivered yesterday to Tando Adam. As per the sources many other cotton factories have become operational in the Sanghar region of Sindh province and in one or two districts of the Punjab for the ginnsing season.
He said that in many cities, Raw cotton prices rose by Rs. 200 yesterday to reach a new level of Rs. 6,200/40kg. While processed cotton is trading between Rs. 12,200 and 12,500.
Latest posts by News Desk (see all)
- Oil Prices down amid Geo-Political Uncertainty - November 1, 2023
- Govt to borrow PKR8.5 trillion in Bond Auction till Jan-2024 - November 1, 2023
- Nishat Chunian Ltd: 1QFY24 profit rises 13 percent to PKR 500mn - October 31, 2023