The price of cotton registered a decrease of Rs200 per mound, and now cotton is being sold at Rs18,300 per mound in Pakistan, it was reported on Tuesday.
Pakistan Ginners Association Chairman Ehsanul Haq said that cotton price decreased due to nonavailability of fine-quality cotton.
He said that rising temperatures and poor-quality seed during the current year are the main causes of the decrease in cotton prices.
Haq also cited yarn and fabric imports under the Export Facilitation Scheme and government inspections of ginning factories as factors affecting the market.
He raised concerns over reported financial scandals involving billions of rupees in Faisalabad’s yarn market and millions at some Sindh ginning factories.
