In order to improve export competitiveness, Indian cotton yarn prices are reduced
In the week of September 7-14, as cotton prices fell, Indian cotton yarn prices were lowered. Among them, the price of 30S carded yarn in Punjab Province fell by 4 rupees/kg (8 cents/kg), a decrease of 2.2%, and the price of combed yarn fell by 10 rupees/kg (16 cents/kg), a decrease of 5%. In the past four weeks, the price of combed yarn in Punjab Province has dropped by 48 cents, or 14.8%. After the sharp decline, as cotton prices rebounded, the price of cotton yarn was subsequently raised. The current price of cotton yarn in Punjab Province has returned to the level three months ago. In contrast, cotton yarn prices in Madhya Pradesh remained stable with little increase or decrease.
Last week, with the correction of international cotton prices, the price of S-6 cotton in India increased by 900 rupees/kandy (1.24 cents/pound), an increase of 2.1%. In order to improve the export competitiveness of cotton yarn, the FOB price of 30S carded yarn in India was reduced by 5 cents to US$3.05/kg.
It is understood that the export price of Indian 32S carded yarn to the Chinese market increased by 4 cents, while that of 20S fell by 1 cent. India’s exports to China have fallen sharply. According to statistics, in July 2016, India’s pure cotton yarn exports to China fell by 74% year-on-year, and the cumulative decline from January to July was 35%. Exports to Bangladesh increased from 20% in the same period last year to 55% this year. It is expected that Bangladesh will become the main destination for Indian cotton yarn exports in the future. In order to improve export competitiveness, Indian cotton yarn prices are reduced
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