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Himfr Reports Pakistan's cotton export rebound

By: frbiz man

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After a rebound in September, in the next few weeks, Pakistan's cotton exports may decline because the domestic cotton prices rose sharply due. In the 7-9 month, Pakistan's cotton exports rise in the use of the results of the previous cotton stocks.

After last week's sharp increase in domestic cotton prices, the current cotton textile producers in Pakistan which has spread panic. Pakistan's Textile Industry Association and even the major requirements in the next Saturday to convene an emergency general meeting, it is because they believe that a serious industrial crisis was due to the unprecedented increase in cotton prices caused the rise in cotton prices has eroded the survival of Pakistan's cotton industry capacity. Who will pay such costs surge? Pakistan's textile factory, weaving factory, domestic apparel production company or Pakistani textile and clothing industrial products to foreign consumers.

Karachi Cotton Association, according to official calculations, as of October 14, Pakistan's cotton price from Rs 2,500 / Meng (37.32 kg) up to 3322 Rs / Meng, within two weeks rose by 33%.

Sharp rise in cotton prices in Pakistan is due to panic buying of cotton plants caused by rumors spread by insects, resulting in panic buying of cotton. The recent rise in U.S. cotton futures prices can also explain the rise in cotton prices in Pakistan cause.

The limited rise in cotton prices
Although in the next few days, Pakistan's cotton prices may continue to rise, but not down to the level before September.

According to various reports, in the recent weeks, Pakistani cotton yarn prices rose by only 8% -10%, far lower than the rate of increase in cotton prices.
Part of the resistance of cotton weaving mill the recent rise in cotton prices. Currently, they are prepared to the extent such a price increase passed on to consumers, as they do over the past few months is this.

Recent statistics show that in 7-9 month, Pakistan's cotton exports rose 13.6% to 366 million U.S. dollars. In the 7-8 month, Pakistan's cotton exports fell by 7%, while exports increased by 6.41%, to 233 million U.S. dollars. In 7-8 month, Pakistan's cotton export unit price from the same period in 2002, 64 cents / square meter up to 73 U.S. cents / square meter. Pakistan's cotton export prices from 2001-02, 59 cents / square meter rose to 66 in 2002-03 cents / square meter, an increase of 12%.

Sales to the United States and Hong Kong down
Pakistan to the United States and Hong Kong, the two largest export market in cotton declined. In the 7-9 month, Pakistan's cotton exports to the United States fell by 15%. Hong Kong's exports to decline by 17%. While exports to Turkey rose by 68%, reflecting this year's Turkish textile imports from Pakistan rise. To Bangladesh and Sri Lanka also increased in cotton exports, as exports to EU countries also increased.

Pakistan's cotton exports to the EU increased mainly due to OPEC from January 1, 2002 increase the quota, in exchange, Pakistan reduced the import tariffs from the EU. The EU is considering to increase in 2003 and 2004 imports from Pakistan, while Pakistan's tariff from 25% to 20%, ranging series of textile products, including part of the finished cloth.

As of October 15, the EU imports from Pakistan reached 36,700 tons of gray cloth, than last year's imports are rising sharply.

Article Source: http://depositarticles.com/

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