In recent weeks, Indian cotton prices continued to rise, heavy rainfall has damaged many new cotton in different parts of the country.
In the same week, India's s S-6 spot price rose by 5.2% in 2019. With the increase of new cotton listing, local prices have declined. However, recent rainfall threatens the yield and quality of new cotton, supporting cotton prices. India's CCI is expected to resume large-scale acquisitions, so that the market price is not lower than MSP.
In recent two weeks, China's cotton prices rose sharply, which also stimulated India's cotton exports. Domestic cotton yarn prices also began to strengthen, and the price of 30 Combed Yarns rose steadily.
Pakistan's cotton yarn demand at home and abroad continues to increase, in recent week, prices continue to rise sharply, low inventory of cotton mills also give cotton mills reasons to raise prices.
In the same week, Pakistan's 20 Combed Yarns rose by 3.63%, the export price increased even more, and the new demand continued to increase. However, cotton export prices began to stabilize, which means that the rise of cotton and cotton yarn may gradually slow down. In recent four weeks, the spot price of Karachi in Pakistan has increased by 14.77%, BCI cotton and organic cotton prices have also increased, and the arrival price of American cotton has increased by 4.32% in a single week.
