In the past week, cotton prices in India have been stable, but yarn prices have continued to fall. 30-count pure cotton yarn has fallen by 6-7% in three months. The price of 100% viscose yarn fell by 2.4% in a single week and nearly 6% in four weeks, while the price of polyester and viscose yarn stabilized.
In April this year, India’s cotton yarn exports fell sharply. In addition to the epidemic, India’s cotton yarn exports have begun to shift from China to Bangladesh and Vietnam in recent years. At the same time, Indian cotton exports to Bangladesh are also expected to increase. Recently, CCI has announced that it will begin exporting cotton stocks at low prices.
As India’s cotton production is expected to be bumper this year, Indian cotton prices may weaken in the future. According to the forecast of the Cotton Association of India, cotton stocks in India have risen to a new high in the past five years due to increased production and reduced consumption. The latest statistics show that the current cotton planting area in India has increased by 11% year-on-year, and good monsoon rains will increase production.
As of July 24, India’s 2020 monsoon rainfall was 6% higher than the long-term average, the highest in the past six years. The area planted with autumn harvest crops exceeded 80 million hectares, completing 75% of the plan and a year-on-year increase of 18.5%.
From July 1 to July 11, nearly 80% of India’s 36 regions received more than normal rainfall, 18 regions had the same rainfall as previous years, and only 7 regions had rainfall above normal. few. Rainfall in India in August is still critical, and a good harvest of autumn crops is expected. </p
