Local cotton prices surge with international market

Cotton prices experience an increase after the international prices go up. For the first time the international cotton price exceeded the local price level of cotton.Cotton price in the local market go up by 100 rupees per 40 kg to reach 7100 in Punjab and 7200 in Sindh. Cotton prices had gone up by 4.5 cents per pound in New York market. According to the market sources, the recent increase in the commodity prices is due to increased purchases by the exporters.