Karachi (Commerce Desk): Last week saw a sharp rise in the prices of standard cotton in Pakistan. Limited domestic availability, combined with import disruptions caused by tensions in the Middle East between the US, Israel, and Iran, led to an increase of Rs 500 per maund, pushing prices to Rs 17,000.
Ehsan Ul Haq told a private TV channel that rising global crude oil prices caused an unusual surge in polyester fiber costs, which also impacted Pakistan. The price of polyester fiber increased by Rs 30 per kilogram, which in turn raised the prices of cotton yarn and contributed to the spike in cotton prices.
Ehsan Ul Haq further explained that local textile mills are purchasing more high-quality cotton than in previous years to prepare summer clothing. Initially, this demand was met through imported cotton, but due to halted shipments amid global conflicts, mills have started sourcing cotton from the domestic market, sustaining the upward price trend.
