Pakistan Local Cotton Market:
(The local cotton market saw a slight increase due to a pest infestation affecting the standing cotton crops, resulting in a minor uptick in both prices and market activity. Buyers were actively making purchases in anticipation of possible future price hikes)
1- The local cotton market experienced a modest uptick as a result of a pest infestation affecting the standing cotton crops, leading to a slight rise in prices and market activity. Buyers were actively purchasing in anticipation of potential further price increases. Additionally, the international market trends provided some support for the escalation of local cotton prices.
2- Prices are expected to stay stable as a result of a significant influx of cotton and decreased demand for yarn orders both domestically and internationally. moreover, Rising inflation has had a significant impact worldwide, diminishing the purchasing power of end customers.
3- Drones and helicopters were employed to apply advanced chemicals over a 2500-acre expanse in Jampur and Rajanpur regions. Farmers are content, given the collaborative efforts of Agriculture Extension & Pest Warning teams. This year, the cotton production across the entire province has doubled in comparison to the previous year.
4- Last week, cotton prices in Punjab and Sindh increased around 1000~1200 per maund in fear of damage crop by pink fly, price ranging from Rs 18,000 to Rs 19,100 per maund, (USC 0.74~0.78 lbs) with Phutti prices at Rs 8,500 to Rs 9,000 per 40kg. In Sindh, cotton rate was Rs 18,000 to Rs 19,000 per maund, while in Punjab it ranged from Rs 18,000 to Rs 19,100 per maund. KCA increased by Rs. 1,000 to reach Rs. 19,000 per maund, while PSF remained same at 378 PKR/kg.
Local Yarn Market:
(The local yarn market is anticipated to remain unhurried as per US dollar trend and prices of local cotton plus demand from end customer)
1- The local yarn market remained slow with limited inquiries. Prices dropped by Rs. 5~7/lbs due to the plunging trend of the US dollar while local cotton is stable.
2- Most mills sold yarn for 30 days & further interested in selling yarn at existing prices.
3- The prices of PSF are stable in the domestic market and are expected to increase by Rs 2~3 more by next week.
4- The Faisalabad market is normal in demand, with consistent levels of business activity.
|Count||Price in Pak Rupees / 10 LBS||Price US$/Bale|
|16/1 Carded Weaving||3650 – 3800||490 – 510|
|20/1 Carded Weaving||3700 – 3930||500 – 530|
|30/1 Carded Weaving||3850 – 4150||520 – 560|
|30/1 PC Carded Weaving 52:48||3160 – 3300||425 – 445|
|40/1 Combed Compact Weaving||4700 – 4850||635 – 655|
|60/1 Combed Compact Weaving||6400 – 6600||860 – 890|
|80/1 Combed Compact Weaving||8400 – 8550||1130 – 1150|
|40/1 CVC Carded Weaving 60:40||3750 – 3900||505 – 525|
Export Yarn Market:
(Export yarn market showed improved business activity. customers from all regions floated hansom numbers of enquiries against which order materialization was also good. We might see good buying sentiment in days to come a head of appreciation of Pak Rupee against Usd and firm cotton prices)
1- The export yarn market showed good business activity. customers form all regions have floated decent numbers of enquiries against which orders were materialized as well.
2- If we overall see the market conditions, suppliers are comfortably booked and they are not selling under any pressure.
3- Prices remained stable due to firm cotton prices and appreciation of Pak Rupee against Usd.
4- Demand is increasing from Chinese customers and they have placed good numbers of orders during the week under review.
5- European customers are also back from holidays and now working in full swing. There has been reasonable enquiries from European customers and materialization was also good.
6- We might see market in same range in days to come
7- Good & average suppliers are booked till end October and offering November deliveries.
|Export Yarn Prices|
Local Fabric Market:
(Slow activity was seen in local fabric market as uncertainty prevailed due to depreciation of dollar-rupee parity. Customers are targeting about 5~6% lower than current price levels)
1- Uncertainty prevailed in the local fabric market throughout the week for both narrow & wider-width fabrics, resulting in slow activity and the week closed with limited trading activity for both narrow and wider-width fabrics.
2- Fabric prices slightly moved downward due to the depreciation of dollar-rupee parity.
3- Buyers are not showing interest in buying at current levels and only booking urgent orders. Weavers extended their booking level in narrow width till mid-October and have coverage of their wider-width looms till early November ~mid-November.
4- Suppliers slightly increased their conversion rate as compared to last week, due to increase in their production cost.
Export Fabric Market:
(Average number of inquiries were received from Far Eastern markets however improved business activity was seen from Europe and USA. Prices for narrow and wider width remained stable)
1- Limited number of inquiries were exchanged by Far Eastern customers with 4~5% lower their targets than the existing prices.
2- Asking prices remained stable during the week despite of appreciation of PKR against US. dollar.
3- Suppliers are booked till mid of Oct and offering end Oct onward deliveries.
4- Improved flow of inquiries were observed from European and USA buyers resulting limited buying during the week.
5- Wider width fabric prices were same as of last week level.
6- Currently suppliers are booked till end of Oct and offering mid Nov ~ end Nov deliveries..
|Local and Export Fabric Prices|
Bed Linen and Towel:
(In home textile, much effort is needed to be placed on R&D , not only on products but now also on textile mechanical technology to induct and introduce more smart and efficient machinery to compete)
1- Current week’s market situation in Home textiles looks relatively stable, however , US dollar fluctuation and cotton rates may affect future bookings.
2- G20 summit in India and its outcome will definitely have a long term effect on Pakistan Home textiles market as well. It is being speculated that India will get GSP status from EU Union as well which will result in a severe competition. Pakistan needs to take urgent steps to counter the anticipated effects.
(Generally garment demand is slow due to uncertain economy situation around the globe. Negligible orders received from Eu and USA. Denim sector is optimistic to get more orders during 3rd quarter for sustainable products)
1- As a result of economic uncertainty, some countries have seen a decrease in garment demand as consumers cut back on spending.
2- In terms of order placements, Pakistan’s garment industry received a negligible number of orders from European and US customers.
3- Normally, factories receive projection-based orders from large retailers, but the market has been slow in the third quarter of 2023, owing in part to global inflation.
4- Simultaneously, factories anticipate BULK ORDERS in response to improvements made in the 3rd quarter of 2023. Factory delivery is available in late November/Early December 2023.
5- In denim sector, the worldwide market is still striving to recover from inflation, but manufacturers are optimistic about the next seasons since consumers still have a high demand for sustainable products and are prepared to pay a premium for environmentally friendly products
1- Crude Oil prices opened at USD 87.29 with a lower level as compared to last week’s closing figures. in this week, crude oil prices showed upward sentiment and closed on the higher side.
2- In the last day of the week, Crude Oil prices closed at USD 90.77 with an increase of USD 3.48 cents as of the opening figure of the week..
|Opening of Week||Closing Of Week||Change|
1- In the last week values of Pak rupee appreciated against US Dollar, and other major currencies showed a mixed trend in both interbank and open markets.
2- At the end of the week, the Euro closed on a positive note with a figure of 1.07 and the British Pound closed on a negative note with a figure 1.24 against the USD.
|LC 120 Days||289.99||289.94|
New York Cotton Future:
1- New York Cotton futures opened on a higher level on Monday as compared to the previous week’s closing figures. NYCF showed mix sentiment during the week and closed on negative notes.
2- On the last day of the week, OCT 2023 closed at 85.39 with a decrease of 158 points.
3- On the last day of the week, DEC 2023 closed at 86.44 with a drop of 134 points.
4- On the last day of the week, MAR 2023 closed at 87.36 with a lower of 59 points.
Liver Pool Indices:
1- Liverpool Index A opened at 95.90 on lower level than the previous week’s closing figure.
2- In this week Index “A” rose next three sessions, later dropping on closing and hence closed on the positive side.
3- On the last day of the week, LPI “A” closed at 97.50 with a increase of 160 points.
|Opening of the Week||Closing of the Week||Change|