ISLAMABAD: The cotton price has touched an all-time high in Pakistan on Friday.
The price per 40kgs of cotton has now risen to Rs15,000 after an increase of 500 rupees.
Cotton Ginners Forum Chairman Ahsanul Haq said there was a trend of surging prices in the international markets. He said the main factors were huge cotton buying by China from the US and the low cotton production in India.
He said the future cotton deals in the US have reached a new record.
He, however, said the production of 10 million cotton bales in Pakistan will have a good impact on GDP growth.