In the week of October 12-18, affected by the Diwali festival in India, cotton yarn prices in India remained unchanged. It is expected that as cotton prices fall in the next few weeks, cotton yarn prices will decrease accordingly.
It is understood that due to the previous increase in cotton yarn prices, India’s cotton yarn exports have decreased. Currently, more buyers are waiting for cotton prices to fall further. At the same time, the market is worried that CCI’s temporary purchase and storage price may provide certain support for cotton prices. Therefore, for Indian textile companies, the cost of cotton yarn production is still high. According to statistics, the current price of cotton in India has fallen to the average level of cotton prices in the past five years, but is still higher than the lowest point in January 2015.
According to the latest trading volume data, India’s cotton yarn exports in July decreased by 6.07% year-on-year. Exports to Bangladesh and China dropped significantly, while exports to Pakistan, Egypt, and Turkey surged. From April to July, India’s cotton yarn exports decreased by 23.87% year-on-year, of which exports to China dropped significantly by 55.59% year-on-year. The market share dropped from 32.29% in the same period in 2016 to 18.84%. It is expected that India’s cotton yarn exports to China may increase in the next few months. A slight rebound is possible. The cost of Indian cotton yarn is high, and exports to China are greatly reduced
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