• $1000

Pakistan’s cotton consumption hits 21-year low

SOURCE: https://www.qinsun-lab.com/News-and-events/2108.html

Due to the severe shortage of foreign exchange in the country, local banks have been restricting cotton imports in US dollars, which has led to delays in customs clearance documentation and difficulties in opening letters of credit for importers. Currently, Pakistan’s dollar reserves are at extremely low levels and it is unclear when they will be replenished, and this uncertainty has led to disruptions in shipments and difficulties in contract execution.