Pakistan: limited import demand

Buying interest for imports continues to be subdued this week. Due to relatively high local cotton prices and very low availability, mills are keen on importing, but are heavily restricted by the ongoing issues in opening Letters of Credit, even for executing current contracts.

Business for Brazilian Middling 1-3/32″ has been reported at around 1,300/1,400 ‘on’ March 2023, and some low Micronaire lots have moved at three to four cents lower. Further sales of US recaps have been arranged for nearby shipment around 1,000/1,500 ‘on’ the same cover month. A limited volume of Ugandan cotton has been purchased at around 1,150/1200, again ‘on’ March.

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