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Pakistan: the new tax system affect the textile market - cotton export prices fall Textile information - Textile net - Textile integrated services

by:Chengyi     2020-06-29
In the latest week, Pakistan, the uncertainty of the new tax system make the downturn in the domestic textile enterprises purchasing willingness to Pakistan domestic cotton prices down further. On July 1, free trade agreement between China and Pakistan into the second phase of the favorable conditions, China is expected to rebound in demand for the import of yarn. The United States department of agriculture data also can be seen that Pakistan's dependence on cotton imports more and more is also high. At present, the low domestic demand for cotton yarn in Pakistan, the industry of textile new sales confused, expected in August, as the new tax system gradually clear, the market clinch a deal will be improved. Last week, the international market has increased the demand for Pakistan cotton yarn, the yarn export prices stabilised somewhat, 30 combed yarn 1 last week. On July 1, 03%, and with the free trade agreement between China and Pakistan in the second stage, China's import demand will significantly expand for the yarn. Under the new agreement, China's many Pakistani textiles and clothing duty-free, including cotton. Cotton prices edged down in Pakistan last week, the reason is that next year ending stocks soared around the world, and before rose more than expected. In addition, the harvest of the crop of Pakistan has begun, the future domestic cotton supply will also increase. According to the U. S. department of agriculture's latest forecasts, 2019/20 Pakistan cotton yield increased 4%, but still below the long-term average history. Cotton import demand continues to expand, the import is expected to account for 28% of the total consumption, far higher than previous 8-2016/17 15%.
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