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Cotton futures’ uptrend slowed down in the week ended 5th July 2019 amid expectations of massive production in the coming season, largely in India. Meanwhile, Brazil substituted US cotton suppliers on the Chinese markets due to the US-China trade war.

Viscose staple fibre prices jumped in China, fell in India, and remained flat in Pakistan during the week. In China, VSF offers rose further this week amid limited availability and decreasing supply in the markets. A few downstream buyers restocked VSF again this week despite having bought in huge quantities previously.

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Viscose staple fiber (VSF) offers in the Asian markets were lowered again in the last week of May 2019 due to lackluster downstream buying interest amid cautious mentality as a whole. Viscose filament yarn prices were range-bound despite the fall in raw material cost. The market sentiment doesn't seem to improve much and it is likely that it will remain bearish in the coming weeks as well.

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Related Keywords: cotton arrivals, cotton buyers in Pakistan, cotton imports in Pakistan, cotton prices in Pakistan, cotton spinners, cotton trade, textile exports

On Tuesday, cotton prices in Pakistan slid amid lackluster trade due to lack of buying interest from spinners and higher imports of cotton, whereas, cotton prices in the world markets moved higher.

The spot rate settled at PakRs5,500/maund (37.324 kilogram each), down PakRs50/maund from the previous level. Around 1400 bales of cotton were changed hand in the ready markets of Sindh and Punjab.

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In India, cotton prices edged up in the third week of February on fresh demand from domestic yarn mills after prices declined in the previous week. Gujarat Sankar-6 cotton gained INR500 to INR33,600 per candy. Other varieties saw prices gain INR200-800 per candy.

Related Keywords: bailout package for cotton farmers, collapse of the crop in Pakistan, cotton cultivation in Pakistan, cotton exports worth, cotton farmers, cotton output in Pakistan, cotton prices, cotton prices in Pakistan, textile exports of Pakistan

Mian Shahid, chairman of United International Group, on Sunday demanded a bailout package for cotton farmers affected by recent collapse of the crop in Pakistan.

He stated that dismayed farmers were switching to other crops which could reduce area under cotton cultivation by 20 per cent which would further bring production down.

Textile sector would be hard pressed as four billion dollars would be needed to import cotton which would hit the foreign exchange reserves and gross domestic product growth, he added.

Cotton prices tumbled across markets in the last week of July with numbers plunging midweek on fears that China, the world’s largest purchaser of cotton, may continue having problems with its economy. The US weather forecast for the southern US are dry, which emerged as good news for the growing cotton crop.

Benchmark December Futures lost further US cent 0.43 per pound for the week and the near month October contract fell US cents 1.83. The Cotlook A index also lost US cents 0.80 per pound while the China Cotton Index inched down 20 Yuan a ton.

Related Keywords: cotton export to china, cotton price, cotton prices in india, cotton prices in Pakistan

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In early June, YnFx had predicted that cotton prices will remain subdued in June as global supply and demand volumes then pointed to sustained weakness while a number of factors were underpinning the recent improvement. As the month crossed its first half, cotton prices were depressed across major markets on ample supply amid poor demand.

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Related Keywords: cotton prices in Pakistan, import duty on cotton yarn in Pakistan, Karachi Cotton Association

Rumours that five per cent import duty will be imposed on cotton yarn in Pakistan set the cotton markets on fire on 27 March. The markets swayed on news that recommendation of duty imposition has been prepared and would be put up for approval in the next meeting of the Economic Coordination Committee (ECC).