Indian cotton yarn prices fell slightly
In the week of April 5-12, the price of cotton yarn in India fell slightly. Due to the appreciation of the Indian rupee, the increase in raw material costs and to ensure the profits of textile companies, India’s cotton consumption was slightly reduced. According to statistics, domestic cotton yarn prices in India fell by 1 rupee/kg last week, and S-6 cotton prices fell by 900 rupees/kandy, a decrease of 2%. The profits of textile companies rebounded slightly.
In terms of exports, the price of C30SFOB in India fell by 5 cents/kg to US$3.35/kg. As China’s domestic cotton prices stabilize and cotton yarn becomes more competitive, China’s demand for Indian yarn begins to decline. Last week, the price of C21SFOB exported from India to China fell by 2 cents/kg.
It is understood that in addition to rising production costs, factors such as the appreciation of the Indian rupee and the depreciation of other countries’ currencies have also weakened the international market’s demand for Indian cotton yarn. In order to reduce losses, it is expected that India’s cotton yarn output may decline this year.
According to the latest USDA data, China’s cotton consumption increased and India’s cotton consumption decreased in 2016/17. The decrease in India’s cotton consumption may be due to an increase in the use of chemical fibers. Compared with the past few years, high-level cotton yarn prices are more easily accepted by the Indian domestic market, mainly due to the increase in India’s domestic purchasing power and consumption levels and the increase in clothing retail prices. Indian cotton yarn prices fell slightly
AAA
Disclaimer:
Disclaimer: Some of the texts, pictures, audios, and videos of some articles published on this site are from the Internet and do not represent the views of this site. The copyrights belong to the original authors. If you find that the information reproduced on this website infringes upon your rights, please contact us and we will change or delete it as soon as possible.
AA
