Pakistan's domestic cotton prices continue to hold steady

As textile mills and exporters continue to support the formation of cotton prices, Pakistan’s domestic cotton prices continued to hold steady yesterday. The pick-up price of high-grade new flower ginning factories was about Rs 5,300-5,700/maund, which was 71.00-76.40 cents/lb. The previous day was flat.

The recently exported cotton includes Type 14671-1/16”, which is exported to the main port of Asia at the arrival price of 78.00-79.00 cents/lb.

According to statistics, Pakistan exported 28,517 tons of cotton in January, with an average price of 1,644 US dollars per ton. The cumulative export volume for the current fiscal year (2011.7.1-2012.6.30) was 88,485 tons, with an average price of about US$2072 per ton.