In the past week, domestic yarn transactions in Pakistan were weak during Eid-ul-Fitr. The price of 30-count carded yarn did not change, and the export quotation also remained stable. Affected by the fall in the rupee exchange rate, the export shipments of Basha to China have increased in recent times.
Pakistan cotton prices have begun to rise following ICE cotton futures, and the price of imported US cotton has risen to 71.35 cents/pound. Rising raw material prices may prompt spinners to raise product quotations in the near future.
According to market feedback, Pakistan’s lint cotton spot is currently stable, and traders are cautious about cotton purchases considering the recent rainfall. Affected by rainfall, the quality and supply of Pakistani seed cotton have declined.
It is understood that the cotton planting area in Pakistan has decreased by 20% year-on-year this year, mainly due to the reduction in the supply of improved seeds and the failure of pest control. Ginning plants now only purchase seed cotton as needed. . At the same time, cotton picking in various places has also been hindered by rainfall. Cotton farmers are worried about the losses caused by rainfall, high temperature and termite pests. </p
