Opening snapshot
Asia’s three benchmark BCI cotton prices moved on three different stories in the week ended June **, **** and only one of them was global. Pakistan’s KCA spot rate collapsed *.** per cent after the FY****–** federal budget left textile-sector taxes intact. China’s ****B drifted lower as overseas markets cracked and yarn mills slowed. India’s Shankar-* stable at ****;***/kg, held aloft by an MSP floor that is increasingly out of step with regional pricing.
Key price movement
As per TexPro, KCA spot (** mm) opened Monday at PKR ***.**/kg and closed Friday at PKR ***.**/kg, a *.** per cent weekly loss, driven by a single *.** per cent repricing on Tuesday, June **, when the KCA spot rate committee cut the official benchmark to PKR **,*** per maund. China’s ****B (** mm) eased from CNY **,***.**/tonne to CNY **,***.**/tonne (-*.** per cent), most of it in the back half of the week. India’s Shankar-* (** mm) held flat at ****;***/kg.
