Cancellation of Energy Subsidies, Pakistani Yarn Export Prices Rise

In the past week, the price of cotton yarn in Pakistan fell slightly or remained stable due to insufficient demand from downstream enterprises. Cotton yarn suppliers lowered their quotations as garment factories cut production due to higher energy tariffs starting in July.

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It is reported that the energy subsidy for Pakistan's textile industry will end on June 30, and the subsidy will not be extended because the International Monetary Fund has not provided funding. Affected by it, the export price of cotton yarn rose slightly.

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In May, Pakistan's textile and clothing exports fell by 20%, and there will be insufficient orders for brands from Western countries in the next month. Shipments at the port of Karachi are back to normal after falling due to the typhoon last week.

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Cotton prices in Pakistan have fallen as farmers rush to sell seed cotton to ginners ahead of Diwali.

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In the past week, cotton prices in India continued to fall, with S-6 down 0.3%, and polyester staple prices down 1.9%. Organic cotton and BCI cotton prices were stable, but BCI cotton was still higher than ordinary cotton. The export price of Indian cotton yarn has not changed, and the domestic cotton yarn price is stable.