KARACHI: The cotton prices are once again pushed higher on unclear expectations of end to 15 percent duty on yarn export, Geo News reported Tuesday.Pakistan Cotton Ginners Association (PCGA) member Ehsanul Haq told Geo News that expectation regarding the abolishment of 15 percent duty on yarn exports caused to shove the cotton prices higher, adding cotton price rose by Rs100 per maund in Punjab to Rs6200; while, in Sindh, it mounted to Rs6100 per maund up Rs100.
Ehsanul Haq said cotton prices surged during last 24 hours by Rs500 in Punjab and Rs600 in Sindh, adding this raise has been caused by less availability of phutti and ambiguity regarding regulatory duty on yarn export.
It should be mentioned here that the government promulgated 15 percent regulatory duty for span of one month and this is about to come to an end on July 26.