Cotton prices in Pakistan fall, yarn prices stabilize at high levels
In the week of March 25-31, the official cotton spot price in Karachi, Pakistan, fell by 50 rupees to 6,750 rupees/mund due to ICE cotton futures. The fall in cotton prices has restored cotton demand from Pakistani textile companies, and cotton prices are expected to remain strong in the future.
Domestic and export prices of Pakistani cotton yarn were stable that week, but there is currently no obvious sign of recovery in cotton yarn demand. With the increase in cotton yarn inventory, it is expected that the price of Pakistani cotton yarn will remain stable in the future. Due to rising cotton prices and stable yarn prices, profits of Pakistani yarn mills have dropped significantly.
Last week, the price of 1.4D polyester staple fiber in Pakistan was 128 rupees/kg (US$1.22/kg), down 2.29% from the level in the past four weeks. The price of polyester staple fiber in the Far East fell sharply, with the spot price of CNF Karachi imported from China falling to US$0.96/kg. As competition in the international market continues to increase, domestic polyester staple fiber prices in Pakistan may be under pressure to fall. Viscose fiber prices in Pakistan remained unchanged last week. The prices of polyester-cotton yarn (PC) and polyester-viscose yarn (PV) also remained stable. Cotton prices in Pakistan fall, yarn prices stabilize at high levels
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