Cotton export registers over 1000 percent increase during July 2011
KARACHI: Over 1000 percent increase in Phutti export has been recorded during the first month of current fiscal year.
As per cotton exporters during July 2011 phutti worth 11521000 dollars was exported and this way phutti export registered increase by 1022 percent as compared to last year. In July 2010 phutti was exported valuing 1026000 dollars only.
Cotton brokers told Pakistani cotton was fetching attractive price in competitive international market. International buyers are preferring to purchase Pakistani cotton and due to this reason record export of cotton was registered during July 2011. However cotton price is likely to increase due to damage caused to cotton crop by the recent heavy rains throughout the country.