Cotton price on the rise in local and Intl markets

Surge in cotton price has been witnessed in local and international markets due to decrease in production. According to International Advisory Committee report, five percent decrease in overall production of cotton is feared during the current fiscal year. Overall production of cotton is expected to be 113 million bales. Price of cotton is round about 4,000 rupees per 40 kg in local markets while it is near to 4,800 rupees per 40 kg in international markets. Price of cotton has already been increased by 21 percent as compared to last year price. This year, cotton production would remain 1.2 million bales lower, due to which, price is likely to be increased.