In the past week, the novel coronavirus epidemic has caused China to extend the Spring Festival holiday, delaying the purchase of foreign yarn, and the overall price of Pakistani cotton and cotton yarn has fallen.
That week, there was insufficient demand from Pakistani textile mills and domestic yarn prices fell. At the same time, the recent decline in cotton prices at home and abroad has also put pressure on cotton yarn prices.
Pakistan’s domestic supply gap has increased. After the government liberalized cotton imports, yarn mills were very active in purchasing imported cotton and lost interest in domestic cotton. Domestic cotton spot transactions were very low. downturn.
However, despite China’s insufficient procurement, Pakistan’s cotton yarn export prices remain stable.
