KARACHI: Karachi cotton spot rate increased on the back of solid demand by mills. The Karachi Cotton Association (KCA) official spot rates went up by Rs 100 to trade at Rs. 6,500 per maund on Friday.
Slow and gradual rise in international cotton prices supported local rates to rise as well. Increase in spot rates is beneficial for growers as now they will be able to get the fair price for the crop. Rising urea prices along with double digit inflation raised cost of production which put the burden on farmers. High cotton rates not only encourage growers and farmers to participate actively in production of silver crop, but also encourage them to use good quality seeds which let them to produce high quality crop which contributes in national exchequer through higher cotton exports.
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