Pakistan Cotton Update 18-January-2024
Pakistan Cotton Update 18-January-2024
Market Overview:
- Trend: Steady
- Regional Cotton Prices:
- Sindh: 18,000-20,000 (Quality-dependent)
- Punjab: 18,000-20,000 (Quality-dependent)
Cotton Crop Season 23/24:
- The season is concluding with an estimated 8.3 million bales.
- PCGA figures as of January 15, 2024: 82.5 million bales, with an additional 87,033 bales in the last fortnight.
- Expectation of around 50,000 more bales to be added.
Stock Situation:
- Current stock: 487,987 bales.
- Caution urged due to an unpredictable global socioeconomic situation.
Global Socioeconomic Situation:
- Unpredictable global conditions are working against bullish sentiments.
Local Market Challenges:
- Poor financial situation in the local market.
- Challenges include high energy costs and weak demand.
Conclusion:
- While the market trend is steady, caution is advised due to global uncertainties and local economic challenges. Vigilance is necessary despite seemingly sufficient stock.
Pak Cotton Market Data as of January 15, 2024:
- Arrival: 8,258,115
- Exporters/Traders: 292,126
- Textile Consumption (Tex): 7,478,002
- Total Stock: 487,987
- Press Stock: 432,562
- Phutti Stock: 55,425
- Last Year’s Stock (15-01-23): Data not available
Fortnightly Flow:
- This Year Fortnightly Flow: 87,033
- Last Year Fortnightly Flow (15-01-23): Data not available
Last Year’s Comparison:
- Last Year Total Arrival (15-01-23): Data not available
Industrial Activity:
- Factories in Operation: 165