China will help Pakistan’s textile significantly and support textile sector for its further rehabilitation in the Pandemic
Pakistani cotton price continued to rise to 72 cents per pound. Affected by the recovery in cotton price, yarn price has continued to rise in the past two weeks as well. In July, Pakistan exported 36,600 tons of cotton yarn (up 19.33% year-on-year). Textile and clothing factories have been resumed to full capacity production.
Gwadar Pro on Sunday stated Monthly Report of China Cotton Market released by China Cotton Net quoting that the global economic recovery has been slow, while the Chinese economy has recovered swiflty.The textile imports volume of China rose 6.5% year-on-year in July, well ahead of market expectations. As a result, China’s textile demand has continued to pick up significantly in August. As the orders of autumn and winter season fabric increasing, the related demands of textile have increased.
Comparing with the same period in last year, the textile and garment exports have rose 14.4% in July. As a result, domestic and export prices of cotton have risen by more than 2% in the past two weeks.
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