Peace be upon you:
Unexpected delay in the arrival of cotton under the import contracts, abnormal decrease in domestic production of cotton and the pressure of received large export orders have created an upward trend in the prices of cotton in the local market, which has increased the price of cotton by 20,000 per maund. Cotton Air has touched a high of 25.2024 with Rs.
While the FBR has called a meeting on January 13 regarding whether or not to maintain sales tax exemption on imported cotton and yarn.
Chairman Cotton Gener’s Forum Ehsanul Haque said that although the cotton with the agreements made in advance by the cotton importers has reached Pakistan, there are reports of cotton arriving in Pakistan from March to May under the new import agreements.
Due to which, due to the record increase in the domestic cotton purchase by the textile mills, a trend of rapid acceleration is being seen in the cotton prices, during which the cotton prices on a one-month deferred payment reached the highest level of the current season at twenty thousand rupees. per mana while routine payment has reached Rs.19,000 to 19,500 per mana while further acceleration is expected.
He said that this year the total domestic production of cotton is 51% less than the target and 32% less than the previous year, but due to the fact that mills have received orders for export of textile products in large quantities, the trend of cotton prices is being seen to increase.
