International News: 2022 Pakistan Cotton Textile Enterprises Are in Crisis

In 2022, Pakistan's cotton market will not improve, and downstream cotton textiles will be in crisis

 

Due to the lack of downstream orders, the purchase and sale of cotton and cotton yarn continued to be deserted. Due to the gloomy local economic situation, the purchases in all links tended to be cautious. At present, the price of new cotton in Sindh Province is maintained at 14,500-17,500 rupees/Moende, the price of cotton in Punjab is 15,500-17,500 rupees/Moende, and the price of cotton in Balochistan is 15,000-17,500 rupees/Moende; Pakistan Karachi Cotton Association (KCA ) The spot offer is currently at Rs 16,500/mound. At present, the purchase price of seed cotton in various places is 5000-8000 rupees per 40 kg according to the quality.
 

The president of the Pakistan Textile Mills Association (APTMA) recently stated that the textile industry is suffering from a serious financial crisis, and about 60% of the factories in the country have been closed. If the situation is difficult to improve, the number of factory closures will still increase in the future, and the unemployment rate will further rise. In addition, some people in the textile industry pointed out that the continuous interest rate increase by the Central Bank of Pakistan (SBP) has brought negative impacts. In the future, it may be difficult to open a letter of credit to import cotton, and the production capacity of the textile industry will further decline.