The latest data points out that in September this year, Pakistan’s cotton imports were 8,375 tons, a year-on-year decrease of 3.6%, and a decline for 16 consecutive months. Pakistan’s high cotton yield may be one of the reasons for the decline in imports. It is expected that USDA’s expectations for Pakistan’s cotton imports this year will decline.
In the first two months of this year, Pakistan imported a total of 16,100 tons of cotton, a year-on-year decrease of 9.1%. USDA’s forecast target for October is 327,000 tons, a year-on-year increase of 25%, which means that in the next 10 months, Pakistan’s average monthly import volume will reach 31,000 tons, and this number is higher than the average import volume in the past 16 months. Obviously, the USDA overestimated Pakistan’s “appetite”. In addition, the gap between Pakistan’s cotton production and consumption will increase. On the one hand, China’s demand for foreign yarn imports has weakened, which means that the amount of cotton used will decrease; on the other hand, there are rumors that the domestic cotton price support price set by the government is not enough. Low will encourage cotton farmers to pick and sell.
