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Summary The ongoing rain spell interrupted cotton supply, sending cotton prices up by Rs 500 a maund.
The cotton picking came to a halt in Punjab and Sindh due to the current spell of torrential rains.Cotton price surged to Rs 6,500 a manud in Punjab while Rs 6,300 in Sindh due to the dearth of cotton in the market.Another reason behind the surge in cotton prices is the weakening condition of rupee against the US dollar.Meanwhile, some 1.5 million of cotton bales are expected to be damaged by rain.
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