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Pakistan Yarn And Cotton Market Prices Continue To Rise

2010/10/26 13:30:00 30

Because of the market

yarn

and

cotton

Shortage, yarn prices continue to rise in Pakistan market.

On Thursday, 7/S and 10/S had no sales, but 16/S, 20/S, 22/S, 24/S, 30/S, 40/S and 52/S markets were slow to sell.

32/S, 72/S and 80/S increased by 10% compared with the previous day.

Muhammad Ashraf Gandhi, former chairman of the all Pakistan yarn Merchants Association, said that if the government does not act, the weaving and knitting enterprises will be thoroughly destroyed and tens of thousands of workers will lose their jobs.

He also explained that the supply of natural gas and electricity was unplanned and damaged the production of enterprises.

He said that raising electricity prices and natural gas prices would hurt businesses.

The Pakistan Textile Exporters Association said their dissatisfaction was partly due to the fact that

European Union

Adequate and effective tariff concessions were not provided for Pakistan textiles.

PTEA vice president Adil Manzoor Ellahi said, first of all, the EU tariff reduction does not consider Pakistan's textiles, such as household textiles, knitwear and garments. Second, the sheet is Pakistan's largest export commodity, nor does it have the EU's tariff reduction list. Third, only 27% of Pakistan's textile exports ($1 billion 300 million) enjoy tariff concessions. Ultimately, tariff concessions still require a lot of policy decision approval, and will come into force in three months next January.

Pakistan's total exports to the European Union account for about 3 billion US dollars, accounting for a small part of the EU's imports from global countries.

Although Pakistan textile exports to Europe showed quarterly growth, it did not cause much confusion to the EU market.