Page 5 - TEXtalks International April/May 2022

05

Cotton prices on the rise; Pakistan’s

exports show an excellent upward

trend; yarn export increased 25.97%

In Pakistan, the cotton prices are the total value of imports of the
going up as in its neighbor India. It textile group in the first nine
is expected that the cotton crop will months of the fiscal year 2021-22
be affected in Pakistan due to the was recorded at $3,499.68 million,
rise in temperature and scarcity of which is 25.59% higher than the
water. The unprecedented corresponding period of the fiscal
fluctuation was observed in the year 2020-21. Import volume of the
rate of New York Cotton. The New textile group remained $2,786.5
York cotton rate reached the million in July-Mach 2020-21.
highest level of 155.95 per pound.
There are rumors that India may The PBS data shows that the
put a partial ban on the export of import of raw cotton, synthetic
cotton. The local spinners should fiber, and synthetic silk yarn
be cautious while importing cotton decreased in quantity during the
during the following season. North period under review. The import
India's cotton yarn market value recorded increased due to
higher commodities prices in the
continues to record gradual price international market. During three
increases as mills pass on cotton quarters of the current fiscal year,
price rise, even though demand is 533,871 metric tons of raw cotton
slowing down as downstream worth $1,205.47 million were
industry is not finding it imported, while in the
comfortable with increasing yarn corresponding period of the
prices. In India, average prices previous year.
hovered near Rs 8,220 per quintal
compared to Rs 5,728 per quintal Meanwhile, import of worn clothing
last year, marking an increment of recorded a 56.87 and 66.47%
45 percent on a year-on-year increase in quantity and value,
basis. Fashion retailers such as respectively. As per PBS data,
Shoppers Stop, Celio, and Arvind 764,139 MT of worn clothing worth
Fashions plan to increase prices $341.319 million was imported
given the unabated rise in cotton during the period compared to
prices, worrying the industry for 487,107 MT of worn clothing
more than a year. having a value of $205 million.
Import of other textile items also
Despite a decrease in cotton and increased 21.64 % during July
other raw materials import, March 2021-22 and surged to
Pakistan had to pay 25% more on $740.383 million from $608.677
imports of textile group million in the first nine months of
commodities due to higher 2020-21. Pakistan’s export to
international prices in the first nine China crossed $ 1.039 billion in the
months of the fiscal year 2021-22. first quarter of 2022, recording a
According to statistics issued by nearly 17% increase from January
the Pakistan Bureau of Statistics, to March this year.

April/May 2022