Prices of cotton have dropped in local market

(Dunya News) – Cotton prices in local markets have dropped sharply after announcement from All Pakistan Textile Mills Association (APTMA) that they are closing down their textile mills, reducing the demand.

Cotton market opened after Eid holiday and on first day of trading session, the prices dropped sharply by Rs 300 to Rs 6100 per maund, said chairman Cotton Ginners Forum, Ahsanulhaq from Rahim Yar Khan.

Bearish trend witnessed in the cotton market since last two weeks and on average price of cotton has been declined by Rs 900 per maund, he said.

The continuous bearish trend in cotton market has perturbed the growers and people attached to the cotton circles.

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