Pakistani cotton prices push up by the lower output

Global cotton market is still oversupplied, but since Sep, the global cotton prices have diverged obviously. For Pakistani spot cotton index, G3 1-1/16, prices have risen from Rs. 8,000 to 9,200 per maund, an increase of 15%, which is mainly attributed to the tight supply caused by sharp reduction of cotton output. In short, the condition may continue and Pakistani cotton prices may remain firm.