In the past week, the price of cotton yarn in Pakistan has begun to fall. Clothing sales have dropped again after the second outbreak of the epidemic in European countries, affecting the demand for raw materials by Pakistani garment factories.
At the same time, domestic cotton prices fell again, causing spinners to lower their quotations. 20-count carded yarn fell 1.46%, but export prices were relatively strong. This was because spinners Inventories are low.
In the past two weeks, the price of cotton in Pakistan has fallen sharply, in line with the trend of the international market. The Karachi spot price index has fallen by 6.93% cumulatively, and the quotation of imported US cotton has dropped to 76.70 cents. /pound.
However, due to the sharp decrease in cotton production this year, the price of cotton in Pakistan is expected to remain strong for some time to come. The USDA forecast shows that Pakistan’s cotton production in 2020/21 will drop by 19.3% year-on-year and 34% in two years. Therefore, cotton imports are expected to increase by 50% in two years.
According to market feedback, Pakistan’s output is said to be as low as 1.2 million tons, and it needs to import 1.3 million tons to meet domestic demand. As of the end of January, 500,000 tons have been signed, so the annual Demand will continue to increase in the future.
In the past week, Indian cotton yarn prices fell for the first time in 3 months, and Europe was blocked by the second epidemic It will have an impact on Indian textile production and sales. The cancellation of export orders led to a decline in cotton and cotton yarn consumption.
The export price of Indian cotton yarn fell, with 30-count combed yarn falling to US$2.96/kg, and cotton prices remained stable. Cotton production in India fell by 1% this year. Although the cotton planting area increased, excessive rainfall and insect pests led to a decline in cotton yields. </p
