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Related Keywords: a top priority, cotton association, cotton is part of the national export strategy, cotton production declined, demand for cotton is expected to rise, heavy rains, mostly stopped in the previous year, Myanmar government textile factories, production likely to double, re-opening textile factories this year, textile and garment industry

Myanmar government textile factories which were mostly stopped in the previous year as cotton production declined due to heavy rains in July, August and November. This year with the re-opening of the government textile factories, the demand for cotton is expected to rise and production likely to double, according to traders.

Related Keywords: constant demand by mills and spinners, cotton bales, Cotton prices rise, heavy rains, new cotton crop, official spot rate higher, Pakistan cotton market, prices could go up further after Eid-ul-Fitr, Punjab phutti prices, Sindh seed cotton prices

Cotton prices rise further due to heavy rains and persistent demand by mills and spinners, at cotton market on Wednesday, dealers said. The official spot rate was higher by Rs 50 to Rs 5,750. In Sindh seed cotton prices were at Rs 3100-3300 while in Punjab phutti prices were at Rs 3100 and Rs 3350, per 40 kg, respectively.

According to the market sources, cotton prices moving up with the passage of time the world over owing to shortage problem.

Related Keywords: cotton bales, Cotton Crop Assessment Committee, current season compared to last season, cut in acreage, domestic market, forced to plant cotton less, heavy rains, hit by pest attaks, Pakistan cotton production plunge, PCGA, soft local and international prices forced farmers, Sowing delays also hit the crop harder

Pakistan’s cotton production plunged 34.28 percent to 9.768 million bales in the current season compared to the country’s output of 14.863 million bales in the same period of last season, ending in the mid of April. The drop in output this season is due to the crop’s soft local and international prices forced the farmers, hit by pest attacks and heavy rains, to cut acreage, according to the Pakistan Cotton Ginners’ Association (PCGA).