Domestic cotton yarn prices in India have continued to rise over the past week as cotton prices continue to strengthen, resulting in lower profit from yarn mills and complaints from downstream textiles and clothing industries.

As cotton prices continue to rise, yarn mills have been forced to raise the price of cotton yarn to ensure profits, but the price increase can not be passed downstream, and end-users are determined to rise prices. Domestic cotton yarn prices in India have risen about 2 percent in the past week, but they are still well below the 7.8 percent rise in cotton prices. India's cotton production has slumped this year, cotton supplies are dwindling, and gauze mills are trying to replenish their reserves.

Indian cotton companies have begun selling cotton acquired by MSP on the public market. Indian cotton is currently uncompetitive in the international market, especially in recent days, the rupee continued to rebound.

The export price of Indian cotton yarn, driven by the rebound in rupees and the rise in cotton prices, was raised by 10% to $2.23 / kg for airflow spinning FOB and to $2.87 / kg for 20 ring spinning. Thirty combed yarns rose to $3.05 -3.10 / kg.

From http://info.texnet.com.cn