Cotton price hiked to Rs18,600 per 40kg
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After a hike of Rs300, the cotton price has surged to Rs18,600 per mound in Punjab while Rs18,200 in Sindh, reported 24NewsHD TV channel on Thursday.
Cotton Ginners Forum (CGF) Chairman Ehsanul Haq linked the rise in cotton price to hike in dollar’s rate and Trading Corporation of Pakistan’s (TCP) decision to purchase cotton.
Ehsanul Haq said that incidents like Jaranwala may affect the GSP Plus status granted to Pakistan by the European Union.
Reporter Ashraf Khan