Starting the week with long holidays, the market opened up again on Thursday, conceding further decrease in cotton prices lowering it to about Rs 100 per maund (37.32 kgs). With a hardly reported business, the prices went down to Rs 6,300 to Rs 6,400 per maund. It means that a decline of about 300 to 400 rupee occurred per maund.
The chairman of cotton grinner forum, Mr. Ahsan-ul-Haq said that almost 2 weeks ago, at the start of the new cotton year in Pakistan, the cotton sales started from 7000 rupees per 40kg and a further increase was expected at the prices. However, due to a sudden decrease in the cotton prices in international market, and the rejection of the requests made by APTMA in Pakistan, the cotton prices had decreased.
At the same time the cotton crop is facing a challenge due to extreme rain in the cotton zones of Pakistan the cotton crop is expected to face an attack of mili bugs and virus, he further added. To cope with the matter, the farmers need to take measure to drain out the rain water from the farms as soon as possible and clean the crop from herbs to keep it safe from virus attacks.
