Shortage of cotton in the market has caused a hike in its’ price in the market, pushing it to the price of 11,300 per 40 kg. America, China, and India are also facing a rapid rise in the price of Cotton.
The price of cotton and polyester thread reached its apex, The import of Cotton in previous days failed to fulfill the need of the textile market due to which the price of Cotton reached its maximum limit in the history of the country.
Due to the rapid purchase of Cotton in markets of India, China, and USA, these countries are also facing fluctuation in the price of cotton. According to Mr. Ahsan Ul Haq, President of Cotton Market forum the price of cotton by the cotton mills retained the price of 11300-11500 pkr.
Due to good weather conditions in the coastal districts of Sindh including Thatha and Badin, the cultivation of cotton has started. It is anticipated that in years 2021-2022 Pakistan will be able to have the record yield of cotton which will help in reducing the import of raw cotton and edible oil.
Mr Ahsan ul haq also requested the Government to provide subsidies to the cultivators of Cotton like cultivators of sugarcane are enjoying. Prime Minister’s special advisor on trade has not permitted some textile groups to import cotton from India and instead he has advised them to import it from Russian states.