Indian floral yarn prices rise and export competitiveness is insufficient
In the week of May 25-31, the rise in cotton prices supported the increase in cotton yarn prices in India. According to statistics, the price of cotton yarn in Punjab Province increased by 1 rupee/kg last week, an increase of 0.5%; in the past three weeks, it has increased by 3 rupees/kg, an increase of 1.5%; in the past 12 months, it has increased by 15%. Since the current cotton price in India is only at a relatively high level, the domestic cotton yarn price in India may not have reached the highest level, while the price level of Indian cotton yarn in the international market is at a relatively low level.
The prices of polyester staple fiber and viscose staple fiber in India remained stable last week. The price of S-6 cotton rose to 85.14 cents/pound. As India’s cotton planting area is expected to increase by about 30%, cotton prices may fall around November. At the same time, Indian yarn exports are not very competitive in the international market, especially under the current sluggish yarn export market. It is understood that cotton yarn exports from India to China dropped by 57% in March 2017, and export volume was surpassed by Vietnam and Pakistan, becoming the third largest exporter to China. Indian floral yarn prices rise and export competitiveness is insufficient
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