In the past week, Pakistan’s domestic cotton yarn prices have fallen, and downstream enterprises’ purchases have been weak. However, exports to China are expected to recover, supporting the stabilization of cotton yarn export prices.
Due to the new sales tax implemented in Pakistan, domestic yarn transactions are extremely sluggish. Cotton yarn export prices have stabilized after falling sharply in the past few weeks. Foreign procurement demand provides support. China Buyers need to replenish yarn stocks, and their willingness to purchase in the near future is acceptable.
Pakistan cotton prices have also begun to stabilize after being under pressure for half a month. Prices are unlikely to rise significantly because some new flowers have begun to arrive at ginning plants.
Indian yarn prices stopped falling, while cotton prices continued to decline. S-6 fell by 1,000 rupees, a decrease of 2.2%. Ginning mills have begun selling off the stocks they had hoarded earlier due to the bullish market outlook. Domestic cotton yarn prices in India continue to fall, and yarn mills still have to face the reality that cotton prices are higher than those in neighboring competitive countries (especially Pakistan).
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