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China's cotton price rises, India's cotton yarn demand resumes
In the past seven days (May 30 to June 5), Indian cotton prices have soared further, and spinning profits have been compressed again. It is expected that as the Indian rupee strengthens, export demand for cotton and cotton yarn will likely be suppressed. According to statistics, in the past seven days, the price of Indian S-6 cotton has increased by 1300 rupees/kg, a 3% increase, and a cumulative increase of 7% in the past four weeks. The price of 30S knitting yarn in Punjab has increased by 1 rupees to 216 rupees/kg, an increase of 2.4%, and a cumulative increase of 8.5% in the past three months. In recent days, the Indian rupee has continued to fall, and Indian cotton quotations have become more competitive. The surge in foreign demand has boosted Indian cotton prices. As China's cotton prices rose sharply, China's demand for cotton yarn imports from India began to recover. In the past seven days, the export price of India’s 30S cotton combed yarn has risen sharply to US$3.4/kg, the highest level in recent years. In the past seven days, China's cotton prices began to fall after experiencing a sharp rise, and the inventory of textile enterprises increased significantly during the period of rising cotton prices. According to India's existing cotton and cotton yarn inventory, it is expected that India's domestic cotton prices will be lowered in the short term. Recently, the Indian rupee has rebounded. This is the first rebound in the past four years. It is expected that India's cotton and cotton yarn exports will be suppressed by this impact. Article keywords: Indian cotton cotton yarn overseas textile