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Indian export market demand is sluggish, cotton yarn prices continue to fall

by:Chengyi     2021-03-15
In the past seven days (August 2-8), India’s domestic cotton prices have fallen slightly, while yarn prices have remained unchanged, the RMB/rupee exchange rate has remained stable, and export prices have rebounded.  According to statistics, in the past seven days, the domestic cotton price of S-6 in India has dropped by 200 rupees to 48,100 rupees/candi, a decrease of 0.41%. The domestic price of 30S cotton knitting yarn remained unchanged at 221 rupees/kg, and the profit margin of local spinning enterprises increased.   In recent months, the exchange rate of the RMB against the Indian rupee and the U.S. dollar has fallen, China's import prices have risen, and the import demand for cotton and cotton yarn has both fallen. In order to ensure its competitiveness in the Chinese market, the prices of cotton and cotton yarn that India exports to the Chinese market have been lowered. According to statistics, in the past seven days, the CNF price of 32S cotton yarn from India dropped slightly by 3 cents to US$3/kg. The export price of Vietnamese yarn of the same grade was US$3.16/kg, Uzbekistan was US$2.98/kg, and Indonesia was US$3.19/kg.   It is understood that the pink cotton bollworm once again appeared in Indian cotton fields, causing heavy losses to cotton farmers. It is expected that Indian cotton prices will gradually rise due to this support for some time in the future. Article keywords:  India yarn cotton fell
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