Indian cotton prices rise, cotton mill profits compressed
According to foreign reports, cotton and cotton yarn prices may fall as India’s domestic stocks rise and good monsoon rains increase production expectations.
In the past week, Indian cotton prices fell slightly, with S-6 falling 0.9%. After India’s CCI’s large-scale acquisition, India’s domestic cotton inventory has increased significantly. Due to insufficient warehouse capacity, CCI has significantly reduced prices to sell cotton in stock.
At the same time, the good start of the monsoon rains in India also brings hope to this year’s output. In the future, Indian cotton stocks may exceed market expectations.
Due to rising cotton prices, profits of Indian cotton mills have been compressed, resulting in a decline in cotton yarn production. Cotton yarn prices have fallen slightly in the past three months and are expected to fall further in July-August. .
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