Views: 2 Author: Site Editor Publish Time: 2019-11-22 Origin: Site
1. Pakistani cotton prices firm obviously
Since Sep, global cotton prices have diverged evidently, mainly affected by the own supply and demand change, and the most obvious change is the Pakistani cotton.
2. Pakistani cotton output reduces largely
According to Pakistan Cotton Ginners’ Association, by Oct 15, arrivals of new cotton reach 755kt, a fall of 26.5% compared to the corresponding period of last year. Arrivals in Punjab decrease by 34.4% to 348kt, and that in Sindh are down by 18.2% to 406kt. The large fall of arrivals trigger the worries over the cotton supply, and domestic cotton prices shore up.
PCGA revises lower the cotton areas from 2.659 million hectares to 2.513 million hectares, and the areas in Punjab decrease much. Therefore, cotton output is expected to lower to 2.162 million tons, a fall of 5.5% from last estimations, and down by 15.2% from the cotton target.
|PCCC 2019/20 cotton areas and output in Pakistan|
|million hectare||7/5 target||10/11 forecast||10/24 forecast|
The lower cotton output is also affected by the weather.