Cotton prices continue to rise to provide support for Indian yarn prices
In the week ending February 14, Indian cotton yarn prices continued to rise. Demand has weakened, and the current price increase is due to the reduction of yarn mills.
The domestic S-6 spot price in India has increased by 1.9% in the past week, and the major cotton varieties have increased by 3-10% in the past four weeks. Exports are not competitive, and prices will fall sooner or later. At present, cotton prices in India continue to be bullish, which has led to repeated supply shortages. The surge in production costs and monetary policy have caused domestic yarn mills to suffer.
In December 2016, India’s cotton yarn output fell by about 4%, which provided support for yarn prices to a certain extent. Cotton prices continue to rise to provide support for Indian yarn prices
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