September 20, 2022 (MLN): The spot rate for cotton rose by 500 in a day, representing Rs 22,700 per maund compared to Rs 22,200 per maund yesterday, data released by Karachi Cotton Association on Tuesday.
Average cotton price increased by Rs 500 to 22,700 compared to Rs 13,250 per maund in the same period last year. The annual increase is 41.63%.
The price increase is due to economic instability, devaluation of the Rupee and recent disasters caused by heavy rainfall in the country, prices in the country are expected to rise further.
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