Stimulated by the continued rise in cotton prices and a new round of export policies, the price of cotton yarn in Pakistan continued to rise during the week of January 12-18. Domestic demand for 40S coarse count yarn, 52S, and 60S combed yarn rebounded sharply, and 30S coarse count yarn rebounded sharply. Yarn prices increased by 3.77% within two weeks, and export prices remained basically stable.
It is understood that the National Tariff Commission of Pakistan announced the imposition of countervailing duties on Indian cotton yarn with a count of 55.5 and above, with a tax rate of 26.89-55.80 rupees/kg. The decision will take effect from January 18, 2017, for a period of four months.
Last week, the price of polyester staple fiber in Pakistan stopped rising, and the price of 1.4D remained at 124 rupees/kg. PC and PV yarn prices remain stable. At the same time, the market expects that the new export policy will stimulate demand, and the spot price of cotton continues to rise to 6,450 rupees/Mund. Pakistan imposes countervailing duties on Indian cotton yarn
