India’s cotton yarn production declines and export quotations continue to rise
In the week of March 9-15, although Indian cotton prices fell, Indian cotton yarn export quotations continued to rise supported by the decline in cotton yarn production. The domestic price of S-6 in India fell by 1,100 rupees/kander that week, a decrease of 2.5%, but the price was the same as four weeks ago.
India’s JC30SFOB quotation rose by 13 cents to US$3.33/kg that week, blended yarn rose by 8 cents to US$2.76/kg, and China’s 32S import price rose by 4 cents within a week, with a cumulative increase of 8 cents in the past two weeks. . In contrast, domestic prices of cotton yarn in India remained stable. Punjab 30S is stable at 214 rupees/kg.
At present, Indian cotton yarn prices are supported by the decline in domestic yarn production. Previously, monetary policy caused India to shut down many production capacities. In the first 10 months of this fiscal year (April-January), Indian cotton yarn production fell by 2.2% year-on-year. In addition, the shift of factory production to blended yarn has also reduced cotton yarn output. India’s blended yarn output has increased by more than 6%, and total yarn output has remained stable. Although the output of pure cotton yarn has declined, the current market share still reaches 71.4%. India’s cotton yarn production declines and export quotations continue to rise
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