In the past week, Indian cotton yarn prices continued to fall, and soon fell into decline again shortly after stabilizing. Affected by fierce competition in the export market (especially Pakistan), Indian cotton yarn exports continue to be under pressure. However, Indian cotton yarn exports are expected to recover starting next year.
That week, India’s domestic 30-count carded yarn fell by 2 rupees, a cumulative decline of 3.5% in the past four weeks, and 30-count combed yarn fell by 2 rupees, with a cumulative decline in the past four weeks. 4.9%.
As the Indian rupee appreciates, Indian cotton yarn exporters are facing fierce competition. Pakistan’s cotton yarn exports have benefited from the significant opportunities brought by the depreciation of the rupee and the China-Pakistan Free Trade Agreement. In this case, Indian cotton yarn exports will continue to be under pressure.
Next year, as India’s cotton production increases (the US Department of Agriculture predicts a growth of 9.4%), cotton exports will increase accordingly, imports will decrease by 6.7%, and domestic Cotton prices are expected to fall, improving the competitiveness of Indian cotton yarn.
