In the past week, cotton prices in India rebounded as cotton yarn prices continued to rise.
That week, the price of S-6 cotton in India rose by 3.2%, and CCI’s large-scale purchases supported market prices. According to USDA’s latest forecast, India’s cotton output will not increase this year, and exports are expected to increase by 56%.
Despite rising cotton prices in India, the global market remains competitive. Cotton stocks in India will continue to rise this year, doubling compared to two years ago.
With Indian cotton yarn prices rising sharply in recent weeks, China’s demand for Indian cotton yarn may decrease in the future, and Vietnamese yarn is now more competitive.
Pakistan cotton and cotton yarn prices also continue to rise as the recovery in demand from China brings optimism to the market mood.
Pakistan’s cotton yarn export prices continued to rise that week. Foreign orders have continued to increase in recent weeks. Chinese downstream manufacturers have ordered a large number of Pakistani yarns for recent delivery, prompting Pakistan’s domestic yarn prices to increase. The factory raises its quotation.
Affected by this, although European customers are less interested in buying, the export price of Pakistan’s cotton yarn still increased by 2% across the entire range. At the same time, Pakistan’s domestic yarn prices have also risen to a record high, and the operating rates of downstream textile and garment factories have recovered.
Based yarn prices are expected to remain strong in the coming weeks amid optimism brought about by Chinese demand.
