China’s demand decreases, Pakistan’s cotton yarn export prices stabilize
In the past week, the prices of cotton and cotton yarn in Pakistan have continued to rise. Domestic textile and garment export companies have strong demand. However, export prices have begun to fall and stabilize after rising because demand from China has begun to decrease.
That week, Pakistan’s 20-count carded yarn rose by 80 rupees, an increase of 3.67%. The increase in yarn prices is supported by demand from garment exporters and rising raw material costs for yarn mills.
Pakistan’s textile and apparel exports increased by 23% year-on-year in December 2020, and increased by 8% from July.
That week, the spot price index in Karachi, Pakistan, rose to 10,800 rupees/maund, up 8.54% in the past four weeks, and the price of imported US cotton rose 3.75% to 89.30 cents/ pound.
However, Pakistan’s cotton yarn export prices are relatively stable due to reduced import demand before China’s Spring Festival holiday.
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