Cotton price has decreased by Rs500 per maund after the downward trend in rate was witnessed in Sindh and Punjab, reported 24NewsHD TV channel on Wednesday.
According to the Cotton Ginners Forum after the decrease the price dropped to Rs17,000 in Punjab and to Rs16,500 in Sindh.
In this regard, Chairman Cotton Ginners Forum Ehsanul Haque said that due to the continuous slide in the value of the US dollar and the surge in energy prices, the trend of falling cotton price has come to the fore.
He said that cotton price has decreased by Rs1,500 in the current week.
He demand initiation of buying cotton from TCP to stabilize the price.
Reporter: Ashraf Khan