Cotton production expected to rise by 28 percent

The cotton production is expected to rise nine percent in the international market and 28 percent in Pakistan.According to a research company, the JS Research, the production will be around 139 million cotton bales globally this year.The Food and Agricultural Ministry set a target of 15 million bales of cotton production this year. The production target will influence the cotton prices in coming days.The cotton was sold at $2.43 a pound in the international market while it price touched the record height of Rs 13,000 a maund in Pakistan during the last fiscal year.The expected price of cotton in the international market this year is expected to be around $1.25 a pound. Current cotton price is Rs 8,700 a maund, while weather conditions in coming days will greatly influence the cotton production.Last year’s floods had severely damaged the cotton crops in Pakistan and various other countries.