Cotton growers hit by price slump
A 20% cut in Pakistanis raw cotton prices over the past few months is anticipated to cause havoc for farmers agriculture, reports the Financial Times.
The price collapse is good news for textile businesses but has been caused partially by the withdrawal of a subsidy to farmers last year.
Other significant factors playing a part are that this years crop is expected to be significantly up on last years while overseas demand is weak.
- Cotton prices under pressure, FWi, 12 November, 1999
- Financial Times 26/11/99 page 38