India’s new export registration system will have little impact on the market in the short term

Recently, some traders reported that on December 8, India’s Directorate General of Foreign Trade (DGFT) announced the cancellation of the cotton and cotton yarn export registration system. Therefore, in the future, Indian cotton and cotton yarn exports will no longer be restricted and there is no need to register with relevant departments. Register. However, since import demand will not change, some traders reported that this system will have little impact on the market in the short term, but in the long term, it may be beneficial to some companies next year.
Cotton trade transactions dropped to freezing point this week. Some companies reported that cotton yarn has never been deserted. Some companies predict that the market will not improve before the end of the year. Recently, low-priced Indian cotton yarn has begun to arrive in Hong Kong in large quantities. Among them, yarn that can be used for bleaching is the best-selling. Due to buyers Customers are pressing prices hard, and companies say they can barely stay in business. As the end of the year approaches, companies are under increasing pressure to repay their loans, so if the buyer can take delivery of the goods in cash, there may be a certain price concession.
Some traders said that trade has improved recently. Both cotton and cotton yarn trading volumes have recovered, and prices have begun to stabilize. Companies believe that the current price will not fall sharply again. For some low-priced Indian cotton on the market, , cotton yarn, the company said that although the quality of Indian cotton this year is very good, at this price, local cotton in India cannot receive very good quality, and it may only be mid-range flowers.
Regarding Xinjiang cotton, companies said that the quotations for Xinjiang cotton were confusing in the mid-to-late period. Some companies even reported hand-picked cotton at 13,300 yuan/ton for self-pickup, but the quantity was very small. Another cotton company in Xinjiang sold some new flowers today at a price lower than the official delivery price of 14,100 yuan/ton. The company said that the company suffered a huge loss at this price. This was mainly due to the sharp decline in cotton prices. User relations, choose to give appropriate profits to customers who bought cotton at high prices in the early stage.