In the past week, Indian cotton yarn prices continued to fall, and cotton prices continued to weaken. Clothing exports fell by 91% year-on-year in April, and yarn exports are expected to fall by 80-90%.
That week, the price of cotton yarn in India fell, other yarns were stable, and the quotations from all parties began to stabilize. It is understood that India’s cotton yarn production dropped significantly in March and April. India’s CAI recently reduced cotton consumption in March by 50,000 bales (170 kg/bag), April consumption by 200,000 bales, and May consumption is expected to be reduced by another 130,000 bales.
As of now, the operating rate of Indian cotton mills has gradually recovered, and cotton consumption in this fiscal year (April 2020-March 2021) is expected to eventually decrease by 510,000 package, 15% off.
According to a survey by Indian industry organizations, India’s cotton yarn exports in April are expected to decrease by 80-90% year-on-year, and actual exports this fiscal year are expected to decrease by 35-40%. Statistics from the Indian Apparel Export Association show that India’s apparel exports fell 91% year-on-year in US dollars in April.
