India’s purchasing and stockpiling supports cotton prices and textile companies’ production profits decline
In the week of October 5-11, cotton prices in India rebounded, cotton yarn prices fell slightly, and textile enterprises’ production profits dropped significantly. According to statistics, the price of S-6 cotton in India last week increased by 1,000 rupees/kandi, an increase of 2.6%. The current cotton price is still far lower than the price before the cotton price plummeted. The price of cotton yarn in Punjab Province fell by 1 rupee/kg. JC30SFOB exports The price increased slightly by 3 cents to US$2.98/kg.
It is predicted that a large amount of new cotton will be launched in India from the end of October to the beginning of November, and cotton prices may have room for a sharp decline. However, as India’s CCI temporary purchase and storage work begins, cotton prices are expected to be supported. Therefore, textile companies can only purchase lower-priced cotton from the government to ensure profits in spinning production. India’s purchasing and stockpiling supports cotton prices and textile companies’ production profits decline
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