China's purchases decrease, Pakistan's cotton yarn export prices drop slightly

According to statistics from the Pakistan Gin Mills Association, as of January 31, the total number of new cotton marketed in Pakistan reached 947,000 tons, a decrease of 35% year-on-year, the lowest level in the past 20 years.　　As of January 31, Pakistan has processed a total of 939,400 tons of new cotton, sold a total of 870,000 tons, purchased 858 thousand tons of textile mills, exported 11,900 tons, and had an unsold inventory of 69,500 tons.　　 Due to the sharp drop in cotton production, Pakistan's supply and demand gap this year reached 9 million bales, and cotton imports may hit a new high in recent years.　　 In the past week, the export price of Pakistani cotton yarn fell slightly because of the decrease in Chinese purchases and the price of domestic cotton yarn in Pakistan has risen again.　　 In the past two weeks, the export quotation of Pakistani cotton yarn fell by about 5 cents/kg. On the contrary, the strong demand in the domestic apparel industry led to the continuous rise of domestic cotton yarn prices. That week, 30 carded yarns rose 1.18%, and the prices of blended yarns continued to rise due to tight supply.　　 During the week, the spot price in Karachi, Pakistan was stable at Rs. 10,800/maod, the spot transaction was sluggish, high-grade supplies were almost exhausted, the prices of BCI cotton and organic cotton continued to rise, and the price of imported US cotton began to fall.　　 Despite the current stable domestic cotton prices in Pakistan, cotton yarn prices are expected to remain firm due to the recovery of textile mills' operating rates. Article keywords: 　Pakistan yarn cotton yarn export yarn price overseas textile