In the week of July 19-26, cotton yarn prices in India remained unchanged, while polyester fiber and viscose fiber prices rose again.
According to statistics, the prices of polyester staple fiber and viscose fiber in India increased by 3 rupees/kg and 1 rupee/kg last week, an increase of 2.3% and 0.6%. The price of polyester yarn has increased by about 8% in the past four weeks. The price of polyester and viscose yarn increased by 2 rupees/kg from last week, with a cumulative increase of 3.4% in the past four weeks.
It is understood that the stability of cotton yarn prices in India is mainly due to weak market demand. At the same time, Indian cotton yarn exports have continued to decline in the past few months due to falling demand from China. According to official Indian statistics, India’s cotton yarn production fell by 6.7% in May, while cotton yarn inventories also declined. As India’s cotton production is forecast to rebound significantly, cotton prices are likely to fall sharply next year, and spinning profits of textile companies will also increase.
The current implementation of GST in India continues to disrupt the market, but there are signs that the GST rules may be partially revised to support small producers and traders. Market demand is weak and Indian cotton yarn exports continue to decline
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