Pakistani cotton yarn exports reached 13.2kt in Oct 2022

Pakistani cotton yarn exports reached around 13.2kt in Oct 2022, down greatly by 8.3kt on month. The exports only accounted for 41% of the same period last year, and were even lower than the lowest point of 16.2kt when epidemic broke out in 2020. The averaging monthly exports hit new low in recent decade. At present, Pakistani yarn still accounted for around 50% in Chinese market. However, the continuous epidemic in Guangdong, which is one of the main consumption places of siro-spun yarn, brought much pressure to downstream digestion of siro-spun yarn since mid-Oct. Meanwhile, imported siro-spun yarn sales were much harder amid the competition with low-priced Chinese one. Besides, some apparel brands in Europe released trace requirement to save procurement cost, making high-cost imported Pakistani siro-spun yarn lack support in the future market.