By S.M. Inam
KARACHI: Cotton prices surged by Rs 500 per maund, reaching Rs 1,700 per maund, as the ongoing Middle East conflict disrupts imports and supply chains, according to Ehsan-ul-Haq, chairman of the Cotton Ginners Forum. The shortage of quality cotton, along with rising polyester prices, has contributed to the price spike.
Haq explained that the suspension of cotton imports due to regional instability has led to increased demand and tighter availability in local markets. He warned that further escalation in the Middle East could continue to affect cotton supply and domestic prices.
Meanwhile, global oil prices also saw upward movement, with Brent crude trading at $105 per barrel and WTI crude near $100 per barrel, adding pressure to the energy and commodities markets. Analysts say the combined impact of rising cotton and oil prices could strain textile and manufacturing sectors in Pakistan.
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