Indian cotton yarn prices fall and yarn mills are asked to reduce production
It is understood that due to the current oversupply in the Indian cotton yarn market, cotton yarn prices continue to fall. In order to stabilize cotton yarn prices and spinning profits of spinning companies, Indian yarn mills are currently required to reduce production.
According to statistics, in the past seven days (September 7-13), cotton yarn prices in India have fallen further, with the price of C30S in Punjab falling by 4 rupees/kg, or 2%, and 7% lower than the past four weeks. At present, India’s cotton yarn output is still at a high level, while continued weak market demand has led to low cotton yarn prices. Therefore, the Indian Textile Entrepreneurs Federation (ITF) asked its members to reduce production by 35% within 2 months.
Indian cotton prices began to fall slightly last week, and it is expected that new Indian cotton will be available in mid-October. It is understood that the current decline in profits of Indian cotton mills is not only caused by the continued decline in cotton yarn prices, but also by the continued decline in cotton yarn prices.
According to statistics, India’s JC30SFOB export price fell by 10 cents, or 3.3%, last week, and the export price of 30S blended yarn fell by 10 cents, or 8%. Indian cotton yarn prices fall and yarn mills are asked to reduce production
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