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Pakistan cotton prices peak to 11-year high


Pakistan cotton prices peak to 11-year high
By
Thursday Feb 25, 2021
Cotton production in Pakistan has been recorded at 5.6 million bales only, which is the lowest level in 30 years. Photo: AFP
Production shortfalls push cotton price to 11-year high
Cotton traded at Rs12,000/maund, while its spot rate moved up to Rs11,700/maund on Wednesday
Prices also remained higher in the international market
KARACHI: Cotton prices in Pakistan pushed to an 11-year high Wednesday because of a decline in production.
Cotton traded at Rs12,000/maund, while its spot rate moved up to Rs11,700/maund, Karachi Cotton Brokers Forum Chairperson Naseem Usman was quoted as saying by ....

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Cotton prices hit 10-year high of Rs11,000/maund


Business
January 10, 2021
KARACHI: Cotton prices in the local market hit a 10-year high of Rs11,000 per maund (40kg) in the week, mostly because of decreasing production and rising demand, while import orders for 4.2 million bales have also been finalised, traders said on Saturday.
Dealers said due to a decline in production, millers kept buying in the market, whereas ginners remained interested in selling because of favourable prices. Cotton rates increased Rs400 to Rs500/maund. In addition, prices of cotton yarn ad polyester also increased in the market.
High quality cotton rates increased to Rs11,000 per maund, which is the highest level in the last 10 years. Earlier, prices had crossed this level in 2010-11 when there was huge demand from China and rates reached Rs14,000 per maund. The prices around the world had also increased to abnormal levels in that year. ....

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