Cotton prices fell 300-400 rupees per maund this week amidst market volatility and fresh rains impacting the crop. A new report from the Pakistan Cotton Ginners Association shows production down 77% compared to last year, with overall output collapsing from 14 million to 6.85 million bales. The Overseas Investors Chamber of Commerce and Industry warns this decline could force Pakistan to import $2-3 billion worth of cotton annually, severely straining the national economy. This significant import pressure could further weaken the Pakistani Rupee against the US Dollar, potentially pushing local gold and silver prices higher.
بحوالہ / Source: www.brecorder.com