According to statistics from the Pakistan Ginners Association, as of January 31, the cumulative volume of new cotton on the market in Pakistan reached 947,000 tons, a year-on-year decrease of 35%, the lowest level in the past 20 years.
As of January 31, Pakistan had processed a total of 939,400 tons of new cotton, with a total sales of 870,000 tons, textile mills purchased 858,000 tons, and exported 11,900 tons. The sales inventory was 69,500 tons.
Due to the sharp decline in cotton production, Pakistan’s supply and demand gap reaches 9 million bales this year, and cotton imports may hit a new high in recent years.
In the past week, Pakistan’s cotton yarn export prices fell slightly due to a decrease in Chinese purchases, while Pakistan’s domestic cotton yarn prices rose again.
In the past two weeks, Pakistan’s cotton yarn export quotations have fallen by about 5 cents/kg. On the contrary, strong demand from the domestic garment industry has caused domestic cotton yarn prices to continue to rise. 30-count carded yarn rose 1.18% that week, and blended yarn prices also continued to rise due to tight supply.
That week, the spot price in Karachi, Pakistan, was stable at 10,800 rupees/maund, the spot transaction was sluggish, the high-grade supply was almost exhausted, and the prices of BCI cotton and organic cotton continued to rise. The price of imported US cotton began to fall.
Although domestic cotton prices in Pakistan are currently stable, cotton yarn prices are still expected to remain strong due to the recovery of textile mill operating rates. </p
