India fancy yarn prices remain firm, GST implementation tends to stabilize

During the week of August 10-16, India's cotton stocks were low, cotton supply tended to be tight, and cotton and cotton yarn prices remained firm. It is expected that Indian cotton prices will continue to remain at a high level before a large number of new cottons are launched in November.　　According to statistics, the FOB price of 30S cotton combed yarn in India remained unchanged at US$2.90/kg last week. Ludhiana's polyester price rose by 3 rupees/kg to 147 rupees/kg, and the price of 30S polyester-cotton blended yarn fell slightly by 5 cents to 2.65 US dollars/kg.　　 At present, the implementation of the GST unified tax system in India is basically stable. As the taxes and fees related to textiles have been reduced from 18% to 5%, it is expected that yarn production may increase in the future.　　 In the Chinese market, due to the weak price competitiveness of Indian and Vietnamese yarns, China's demand for Indian yarns has gradually decreased, and it has begun to import large quantities of Vietnamese yarns. Article Keywords: 　Indian Cotton