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Related Keywords: assessed on the basis of data, Cotton Crop Assessment Committee, cotton crop size, Cotton crop target, due to lack of interest of farmers, likely to miss, rains, set for this year, substandard seed, yield parameters of cotton

Pakistan is likely to miss the cotton crop target set at 15.1 million bales for this year by 1.72 million bales due to lack of interest of farmers, rains and substandard seed. The total cotton crop is expected to be around 13.38 million bales.

Related Keywords: cotton bales, cotton price, cotton trading, Karachi Cotton Association, Karachi cotton exchange, Pakistan cotton market, picking of phutti, rains, textile mill-owners

Concerns over supply cotton trading surged at six week high of 23,600 bales after rains in Punjab on Tuesday. If rain continues, the price of cotton likely to go further up.

The rains have slowed down picking of phutti (seed-cotton) in Punjab. It has also caused increase in price of cotton by Rs50 per maund (37.324 kilograms) to Rs5,450 per maund in the afternoon on Wednesday.

According to Taqi Abbas, a broker at the Karachi Cotton Exchange, uncertainty convinced textile mill-owners to buy big lots of the commodity.