Indian cotton yarn export demand remains weak

In the past week, despite the rebound in cotton prices, the price of cotton yarn in India continued to fall and the profits of spinning mills fell.　　 During the week, the domestic S-6 price in India rose by 1.9%. It fell sharply on the first Monday of August, and only rebounded in the past two weeks. However, cotton yarn prices have fallen, with most varieties falling by 2 rupees per kilogram, and dollar quotations have fallen even more because the rupee exchange rate has fallen again.　　 Statistics show that the domestic cotton yarn prices in India have fallen by 10-14% in the past three months, the profits of yarn mills have shrunk sharply, and the operating rate has dropped.　　In terms of exports, the rebound in cotton prices limits the room for cotton mills to cut prices. Affected by the Sino-US trade war, Brexit and economic recession, Indian cotton yarn export demand remains weak.　　 The U.S. Department of Agriculture predicts that India's cotton consumption will increase in 2019/20, and that the growth of cotton production will exceed the growth of yarn production. However, the recent poor weather in India may have an impact on production, and the increase in MSP prices will also increase the cost of cotton used by the spinning mills. Article Keywords: 　India Cotton Yarn Cotton Export Cotton Price Overseas Textile