Cotton prices in Pakistan have risen to an all-time high as a result of rising dollar values and poor domestic supply, according to local media reports on Thursday.
Cotton has hit a level of 14,100 per maund, according to the information, after a Rs200 spike in the last few days, which ginners believe is a reaction to delayed imports of cotton bales and dollar flight in recent days.
According to Pakistan Cotton Ginners Forum (PCGF) Chairman Ihsan ul Haq, locally produced cotton is being used in large quantities while imported orders are being delayed.
“After a Rs300 increase per maund, prices in Punjab have hit Rs14,300, which is the highest pricing of the item so far,” he added.
However, the official also stated that the country is expected to generate 10 million bales because weather conditions appear to be favourable to the cotton crop.
