Indian cotton prices bottom out and cotton yarn export prices remain strong
Affected by the bottoming out of Indian cotton prices, Indian cotton yarn export prices are extremely strong. According to statistics, in the week of November 9-15, cotton yarn prices in India rose slightly, with the price of JC30S rising slightly by 5 cents to US$3/kg, and the price of T65/C3530S falling slightly by 9 cents to US$2.46/kg.
In China, as the price of polyester continues to fall, the price of 30S knitted yarn exported from India to China fell by 3 rupees/kg last week, and has dropped by 12 rupees/kg in the past four weeks, a decrease of 8.3%. The prices of other types of yarn have remained stable. .
It is understood that Indian cotton prices bottomed out last week, and Pakistani textile companies have asked the government to liberalize import licenses for Indian cotton, which may continue to support Indian cotton prices.
However, excessively high cotton prices will weaken the competitiveness of Indian cotton yarn in the international market. Affected by high cotton prices in the first few months of 2017, India’s cotton yarn production decreased significantly.
According to statistics, India’s cotton yarn production decreased by 1.9% year-on-year in 2016/17. From April to August 2017, India’s cotton yarn production decreased by 1.7% year-on-year. Except for 100% pure cotton yarn, the production of other yarns in India has declined. Indian cotton prices bottom out and cotton yarn export prices remain strong
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