| GEO Business|
| Price of Phutti per 40kg down by Rs600|
| Updated at: 0953 PST, Saturday, July 05, 2008|
KARACHI: The cotton (phutti) price has declined to Rs600 per 40kg during last one week.
Sr. cotton trader Nasim Usam told Geo News price of phutti per 40kg has witnessed sharp decline from Rs2200 to Rs1600 in Punjab during last few days.
Arrival of new phutti crop in market and its supply is the main reason behind reduction in phutti rates, he added.
He further said, “Phutti supply will increase further in next few weeks due to which increase in its rates could not be expected.”