Cotton production increased by 83%
KARACHI: Pakistan’s cotton production rose by an impressive 83% in the 2023-24 season to a total of 6.79 million bales, providing relief to the country’s foreign exchange reserves, which are under significant pressure due to the need for cotton imports. However, despite the increase in cotton production, its market price has fallen to Rs 7,000 per 40 kg, significantly lower than the government’s announced support price of Rs 8,500 per 40 kg. This price difference discourages farmers from investing further in cotton cultivation as the government has yet to honor its promise to buy cotton to stabilize market prices. The
