Indian cotton yarn export prices are unusually strong
From the week of November 30th to December 6th, the export price of Indian cotton yarn was extremely strong, and the rebound in cotton price provided support to the price of cotton yarn. According to statistics, the export price of India’s JC30SFOB remains at US$3/kg, and the FOB price of 30S blended yarn remains at US$2.6/kg.
It is understood that after Maharashtra cotton was attacked by insect pests, Gujarat faced the threat of storm again, so Indian cotton prices rebounded slightly. It is expected that as weather concerns recede, cotton prices will likely return to lower levels soon.
In terms of exports to China, the export price of cotton yarn from India to China increased by 4 cents, and the export prices of cotton yarn from Pakistan and Indonesia to China increased by 3 cents. The increase in Pakistan’s cotton yarn export prices is due to firm domestic and ICE cotton prices.
After the implementation of India’s GST had a negative impact on exports, India’s MEIS increased export incentives from 2% to 4%, including clothing and home textiles. Indian cotton yarn export prices are unusually strong
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