Indian cotton yarn export prices plummet
Domestic prices of cotton yarn in India have stabilized, export prices have continued to decline, and cotton prices have continued to fall. With the recovery of domestic textile and apparel production, Indian cotton yarn prices have gradually stabilized. However, the price of imported yarn in China fell by 7 cents/kg in a single week, and the export quotation of Indian cotton yarn plunged sharply, with 30-count carded yarn falling to US$2.3/kg.
Indian cotton prices continued to decline, with the decline smaller than in previous weeks, with S-6 falling 1.4% in a single week. As CCI sells inventory at low prices, Indian cotton prices will fall across the board in the future. At present, Indian cotton prices are much lower than those in the international market, but domestic cotton prices are rising. As transportation is still disrupted, many cotton export orders have been cancelled, and export sales are very limited.
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