Internal and external troubles are putting Indian cotton yarn to the test
In the week of March 16-22, the export price of Indian cotton yarn fell slightly. The price of JC30SFOB fell by 8 cents to US$3.25/kg, a decrease of 2.4%; the FOB price of 30S blended yarn fell by 6 cents to US$2.92/kg. kg, a decrease of 2%; the FOB price of PV yarn exported to Indonesia plunged 15 cents to US$2.45/kg, a decrease of 4.8%. As China’s demand further declines, it is expected that Indian cotton yarn export prices will continue to decline in the future.
At the same time, cotton prices in other major cotton-producing countries such as India and Pakistan have continued to rise in the past few months. At the same time, affected by the depreciation of the US dollar and the appreciation of the Indian rupee, India’s exports to the United States decreased. The continuous depreciation of the Turkish lira in the past two years has led Turkish import companies to choose to calculate in local currency, reducing demand for imported yarn, especially Indian yarn. Therefore, the spinning profits of Indian textile companies have been continuously compressed, and cotton yarn production has decreased.
At present, the prices of polyester, polyester-cotton, and PV yarn in India have begun to decrease with the decline in polyester and viscose prices. Domestic and foreign troubles put Indian cotton yarn to the test
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