Cotton prices fell yesterday due to a decline in consumption by spinning mills.
According to a dealer, monthly average consumption of the country’s textile sector was between 1.3 million and 1.4m bales, but it has now been plummeted to around 400,000 bales since the start of Ramazan.
He said the government had also increased the duration of load-shedding for the textile sector during the holy month from eight hours to 12 hours. “This has also hurt consumption,” said the dealer.
