Pakistan's cotton imports dropped sharply in June

According to the Pakistani Federal Bureau of Statistics, Pakistan’s cotton imports in June this year were 21,800 tons, a decrease of 40% year-on-year, the lowest level in seven months. Since February of this year, Pakistan’s cotton imports have gradually decreased, mainly due to the rising cost of cotton imports. In the same month, the average price of cotton imports in Pakistan reached 102 cents/lb, the highest in 14 months. The devaluation of the rupee also promotes the export of textiles and clothing from Pakistan, while also increasing the cost of cotton imports. Due to the slowdown in the export growth of cotton yarn in Pakistan and the rupee exchange rate approaching the record low, the import of cotton in July is still not optimistic.