Pakistan Local Cotton Market:
(Local cotton market was active, buyers remained busy in bulk buying of cotton. Due to which firmness prevailed. On the other side , rainy season on cotton belt my hurt the crop due to which prices may rose further. While ,crop size in this season expected healthy)
1- In the domestic cotton market, the activity remained good, buyers showed interest in buying in fear that prices may rose up further and import is not feasible so far.
2- Prices of cotton also showed firmness. Spinning mills and buyers showed interest in buying quality cotton while ginners also showed interest of buying.
3- Cotton prices witnessed firmness after some volatility. Due to undue pressure from government sources to buy Phutti at the intervention price of cotton at Rs 8,500 per 40-kg set by the government.
4- All spot prices were lower compared with last month and mostly reflect the changes in new crop futures and uncertain consumption prospects for cotton.
5- Pakistan witnessed the most dramatic downfall at over 10 cents and likely reflects a greater volume of transactions as new crop arrives in local gin yards.
6- Pakistan production is forecast up more than 2.5 million bales relative to last year, and demand prospects are slowly recovering from the current year’s lowest level in over 20 years. This is also reflected in the lower Pakistan basis compared with the previous year. China was the only origin mostly unchanged, and spot prices in local currency (yuan) were in fact higher compared with last month. Lower prospects for China production continue to support domestic prices.
7- Last week, cotton prices in Punjab and Sindh showed firmness slightly trend due to the handsome business activity, price range was in between Rs 16,750 to Rs 17,700 per maund (0.74~0.77) Cents) while Phutti prices ranged from Rs 8,500 to Rs 9,000 per 40kg. The rate of cotton in Sindh is in between Rs 16,750 to Rs 17,050 per maund. The rate of cotton in Punjab is in between Rs 17,200 to Rs 17,700 per maund. KCA and prices remained same at Rs 17,000 per maund and PSF was at the level of 350 pkr/kgs.
Local Yarn Market:
(The local yarn market remains stable with slow business activity. PSF prices were also stable)
1- The local yarn market remains stable and measured in terms of asking prices, with slow business activity.
2- Most mills offer ready supplies, and specialized counts may start within a week.
3- PSF prices remained stable on the domestic market and for next week it is expected to remain constant.
4- The Faisalabad market is modest in demand, with average business activity and cash flow concerns remaining.
5- The market’s further business movement was cleared by the upcoming week leading to cotton prices and mandates from customers.
The followings are the latest querying prices of yarn in the local market based on ex-mills.
|Count||Price in Pak Rupees / 10 LBS||Price US$/Bale|
|16/1 Carded Weaving||3300 – 3400||480 – 495|
|20/1 Carded Weaving||3320 – 3520||480 – 510|
|30/1 Carded Weaving||3650 – 3825||530 – 555|
|30/1 PC Carded Weaving 52:48||2800 – 2960||405 – 430|
|40/1 Combed Compact Weaving||4250 – 4380||615 – 635|
|60/1 Combed Compact Weaving||5800 – 6000||840 – 870|
|80/1 Combed Compact Weaving||7900 – 8100||1145 – 1175|
|40/1 CVC Carded Weaving 60:40||3450 – 3570||500 – 520|
Export Yarn Market:
(The Export yarn market showed improved activity as customers showed interest by soft sentiment of market and booked decent quantities out of mkt. we might see handsome activity in days to come as price is matching with their psychological level)
1- The Export yarn market remained under very good business activity as customers took the interest in buying due to soft market sentiments.
2- Suppliers were offering prices actively but were quite flexible in presence of firm bids and confirmed orders with their selected suppliers.
3- Cotton market remained stable this week as customers remained in market and booked reasonable quantity of orders.
4- Suppliers are offering September shipments as they have a less space due to active business in the past couple of weeks.
|Export Yarn Prices|
Local Fabric Market:
(Local fabric market remained constant. Order placement is very less however local brands placed decent quantities at 5~6% lower than the asking prices)
1- Local fabric market remained constant. Processing units are placing orders carefully expecting further prices dropped down.
2- Asking prices were same as of last week due to stable raw material prices.
3- The local brands have placed decent quantities during the week on lower prices about 5~6% compared to the current prices.
4- Suppliers are booked for next 2~3 weeks and offering onward deliveries.
Export Fabric Market:
(Far eastern customers still away from buying however European and USA customers have placed limited quantity of orders. Asking prices are same as of last week)
1- Flow of inquiry is still slow from Far Eastern markets. Some of the suppliers were engaged into selling fabric to Chinese customers.
2- Asking prices were same as of last week without any change.
3- Suppliers are booked for next 2~3 weeks and looking anxiously for the new orders.
4- European and USA buyers have exchanged limited number of inquiries resultant limited buying both in narrow and wider width.
5- Asking prices were stable however customers were looking for 6~8% lower than the last orders hence limited booking was noticed.
6- Wider width suppliers are booked till end of Aug and offering onward deliveries.
|Local and Export Fabric Prices|
Bed Linen and Towel:
(Home textile business were less than last week due to inflation and less purchasing power of the consumers. Most of the factories are running around 60~70% of their capacities)
1- Round the globe the market is stagnant from last few months due to inflation and less demand from consumers.
2- This week in Home Textiles, the business activity is comparatively less than last week. The flow of inquiries from European, UK, and USA markets were not seen much. It is expected that the pattern will remain the same until August as stores still have a lot of stocks.
3- The factories are running at between 60-70 % of their capacity.
4- There is a financial crisis that still prevails but is expected to be better in the coming months.
(Pakistan’s garment sector is facing a difficult scenario due to a lack of orders. The increasing cost of production is putting the industry in a more difficult position)
1- Many countries have seen a drop in garment demand as people cut back on spending owing to economic uncertainties.
2- Pakistan’s garment sector received very few orders from international customers in terms of order placements.
3- Normally, factories receive projection-based orders from large retailers, but there has been a slow sentiment in the market in starting of 3rd quarter of 2023, one of the reasons being global inflation.
4- Factories are offering Oct 23 onward deliveries.
5- In the garment industry, sustainability is critical for reducing environmental impact, improving working conditions, meeting customer demand, increasing resource efficiency, and future-proofing the industry.
1- Crude oil prices opened at usd 72.99 with lower level as compared to last week closing figures.
2- In this week, crude oil price showed upward tendency and closed on higher side.
3- In last day of the week, crude oil price closed at usd 75.42 with increase of
usd 2.43 cents as of opening figure of week.
|Opening of Week||Closing Of Week||Change|
1- In last week values of Pak rupee depreciated against US Dollar’s, other major currencies showed mix trend in both interbank and open markets.
2- At the end of the week, Euro closed on a positive note with figure of 1.12 and British Pound also closed on negative note with figure 1.30 against USD.
|LC 120 Days||267.98||267.93|
New York Cotton Future:
1- New York Cotton futures opened at a lower level on Monday compared to the previous week’s closing figures.
2- NYCF rose next day , later showed mix trend and closed on the higher side.
3- On the last day of the week, OCT 2023 closed at 82.66 with upward of 271 points.
4- On the last day of the week, DEC 2023 closed at 81.22 with rose of 197 points.
5- On the last day of the week, MAR 2023 closed at 81.35 with higher of 196 points.
Liver Pool Indices:
1- Liverpool Index A opened at 90.85 on the same level as last week’s closing figure.
2- In this week Index “A” showed mix trend and closed on the positive side.
3- On the last day of the week, LPI “A” closed at 91.90 with an increase of 105 points..
|Opening of the Week||Closing of the Week||Change|