Cotton spot rate increased by Rs500 in a day to Rs22,700 per maund

MG News | September 20, 2022 at 04:08 PM GMT+05:00

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September 20, 2022 (MLN): Cotton spot rate increased by 500 in a day standing at Rs22,700 per maund compared to Rs22,200 per maund yesterday, data released by Karachi Cotton Association on Tuesday.

The average cotton price increased by Rs500 to 22,700 compared to Rs13,250 per maund in the same period last year, Year on Year increase is 41.63%.

The increase in prices is due to economic instability, Rupee devaluation, and recent disaster caused by heavy rainfalls in the country, it is expected that prices will increase further in the country.

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