Declining demand causes Indian yarn prices to continue to fall

In the past week, many textile mills were still closed due to the lockdown of the epidemic, and the decline in demand caused the price of Indian yarn to continue to fall.　　 At present, the domestic demand for cotton yarn in India continues to be under pressure. Cotton prices have fallen sharply in a few weeks. The decline has increased in the past week. S-6 has fallen 2.5% in a single week and has fallen by 5.4% in the past four weeks. Officials of the Cotton Association of India (CAI) said on Tuesday (May 5) that due to the current blockade and fears that cotton consumption will decrease, the carryover inventory will increase at the end of the Indian cotton year at the end of September this year. The recent Indian cotton price has dropped by 12-15%. .　　 CAI said that due to the closure of the factory, India’s cotton consumption has been reduced by 3 to 3.5 million bales, so CAI will lower its cotton consumption forecast for this year. India’s cotton export target for this year is 4.2 million bales. Currently, 3.2 million bales have been shipped. The remaining 100 bales will be shipped from May to September. According to CAI, the current price of cotton in India is 10-12% lower than that in the international market. Once the blockade is lifted, demand from Indian textile mills will improve. Bangladesh, Vietnam, and China will also have great demand for Indian cotton. Inquiries from China, Vietnam, and China, once the blockade is over, the inquiries will increase significantly. Article keywords: 　India cotton yarn cotton yarn prices overseas textiles