US-China trade ban lift raises cotton prices across the globe

MG News | October 14, 2019 at 11:00 AM GMT+05:00

0:00

October 14, 2019 (MLN): A likely end to the trade war between US and China has increased the prices of cotton globally.

The cotton prices in Pakistan’s domestic market have risen by Rs. 200 in the last two days to season high of Rs. 9,200 per maund.

More so, if the trade ban between China and USA is lifted, the prices of cotton in the domestic markets might further go up.

USA is expected to end $250 billion worth of duties on Chinese goods from Tuesday, which will possibility result in decline in cotton prices across globe.

Moreover, China has decided to buy $50 billion worth of agri-products from the USA, which will also include bulks of cotton.

Prior to this ban, China was buying cotton within the range of $8 to $16 billion from the USA.

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