Cotton price hits record high in 11 years
February 25, 2021 04:19 PM
The price of cotton has registered a healthy increase and has reached at a record of Rs12,500 per maund in 11 years, reported 24NewsHD TV channel on Thursday.
The extraordinary price spiral saw cotton rate was going up by Rs1,000 during the last four days.
Cotton Ginners Forum Chairman Ihsanul Haq said the raise in the locally-produced cotton’s prices is unusual. The cotton rates in the US have also touched record levels in the last five years, he added.
The prices of yarn are also skyrocketing due to the record export orders of the cotton, he said, adding the government should take steps to expand the cotton-growing area in Sindh.