Affected by the increase in domestic and foreign market demand, the price of cotton yarn in India has recently increased by 10-12 rupees/kg, a single-week increase of 4.5-5.5%, and the cumulative increase in the past three months has exceeded 20%.
In the past two months, India’s cotton yarn exports have rebounded sharply, which is directly related to the recovery of textile and apparel production in China, Bangladesh, Portugal, and Peru. India’s cotton yarn exports increased by 37% year-on-year in September. At the same time, Indian cotton exports to China, Bangladesh, and Vietnam have also increased significantly.
In the past two weeks, India’s cotton yarn exports have increased, and the FOB price of 30-count combed yarn has increased by 2.97 cents/kg, a cumulative increase of 25 cents in the past four weeks, an increase of 9.2 %. The increase in cotton prices in October also led to the recovery of cotton yarn prices.
This year, the decline in cotton production in India has supported domestic cotton prices, and CCI has begun to purchase seed cotton in large quantities. Under the MSP plan, government stocks will increase by not less than 12.5 million bales (170 kg/bag).
