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Cotton prices going up in local market

Cotton prices going up in local market

 

KARACHI: Cotton prices are on the rise in the local market as the production of the crop has decreased internationally.

Cotton Ginners Forum Chairman Ahsanul Haq said in China the production of cotton has decreased 2.20 percent and it is hoped that if China would buy cotton from other countries then the prices would go up. According to a report, China imported 68,000 bales of cotton from the US on 11 December. As many as 218 textile mills from Pakistan are going to take part in textile fair in Frankfurt in January 14-18 next year. The fair can help Pakistani textile mills in getting orders which is ultimately going to push the cotton prices up.  It is feared that energy crisis can affect these orders.