Rs 357 billion paid to growers for purchase of 14.378 million bales

Textile mills, exporters and ginners paid Rs 357 billion to the cotton growers for the purchase of 14.378 million cotton bales till March 1, 2012, All Pakistan Textile Mills Association (APTMA) told Business Recorder here on Thursday. They said that the average cotton lint price for 2011-12 season remained Rs 5,602 as against 2010-11 season's average price of Rs 9,060 when lint prices shot up to 165 cents per pound.
They said textile sector transferred Rs 439 billion to the agriculture sector for the purchase of 11.761 billion bales during 2010-11 season with an additional benefit of Rs 229 billion over the previous year as cotton prices were extraordinarily high in the local and global markets.