India: downstream demand expands, fancy yarn price rises
India: downstream demand expands, fancy yarn price rises
According to foreign media reports, with the expansion of demand from downstream exporters and cotton yarn manufacturers, India's domestic cotton prices have been supported. With the coming of the new year, the shortage of domestic high-grade cotton stocks also provides support for cotton prices. Recently, Indian S-6 spot price has recovered to 36800-37000 rupees / kand.
According to Indian cotton exporters, India's cotton export demand is good at present, which is much better than that in June to July. The export in 2019 / 20 has increased to 5 million bales (170 kg / bag), higher than the 4-4.2 million bales in the previous year. At the same time, the increase of Indian cotton yarn export also led to the rise of domestic cotton prices. According to the Gujarat Spinning Mills Association, India's cotton yarn exports have increased by 10% in the past two months, and the mill operating rate generally exceeds 70%. With the increase of export demand, Indian cotton yarn (30 yarns) rose to 186-187 rupees / kg.
This year, the cotton area in Gujarat, India, was 2.3 million hectares in Australia, down from nearly 2.7 million hectares in the previous year. The main reason is that some cotton farmers have switched to other crops with higher income, such as peanuts.
Most textile products are on the rise. I don't know if the spring of polyester yarn is coming.