Indian floral yarn prices plummet, export prices remain strong

Indian floral yarn prices plummet, export prices remain strong

With the sharp decline in cotton prices, India’s domestic cotton yarn prices were lowered during the week of September 13-20, while export prices remained strong.

According to statistics, the domestic price of JC30S in India fell by 3 rupees/kg last week, a decrease of 1.5%, and a cumulative decrease of 16 rupees/kg in the past four weeks, a decrease of 7.5%. The price of S-6 cotton in India fell by 1,400 rupees/kandi, or 3.3%. Affected by this, the profits of Indian textile companies rose by 6.9% last week.

As India’s cotton and cotton yarn inventories continue to increase and market consumption continues to be sluggish, India has begun to restrict the production progress of textile companies. As cotton prices fall, it is expected that the export price of cotton yarn will be reduced accordingly. However, it is understood that the price of cotton yarn in India is still holding fast. According to statistics, the export price of JC30SFOB increased by 5 cents to US$2.95/kg last week, but the price of JC32SFOB exported to China fell by 5 cents/kg to US$2.82/kg.

According to the U.S. Department of Agriculture, India’s cotton production this year is increased by 11%, consumption is increased by 2.1%, and ending stocks surge by 24%. High production and high stocks will put serious pressure on cotton prices. With a large amount of new cotton coming on the market in October, cotton prices are expected to fall to even lower levels, and Indian cotton and textiles may have a more competitive advantage in the export market. Indian floral yarn prices plummet, export prices remain strong

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