Pakistan's cotton prices are under pressure

According to foreign reports, the recent drop in ICE cotton futures and the weak demand from textile mills have brought pressure on Pakistan's cotton prices. The country's cotton market has continued to slump, and ginning factories have reduced prices and promotions, but the effect is not obvious. Exports have some low-malt cotton transactions. The importers are mainly Southeast Asian countries and the price is about 120 cents/lb. At the same time, some domestic textile mills continue to sell Shankar-6 stocks at a pick-up price of Rs 9,500/Maud. The latest quotation for Sindh and Punjab provinces is Rs 7000-8,300/Maud, at a discount of 100.45-119.10 cents/lb.