India'S Cotton Exports Stagnate Because Domestic Prices Are Higher Than International Prices.
Since the beginning of June, global cotton prices began to decline, and India exporters began sending cotton to Chinese partners, hoping to store their cotton in local warehouses and wait for prices to rise and gain profits.
However, international cotton prices continue to decline, and this operation also faces enormous financial pressure.
India is the second largest cotton exporter after the United States.
In the past three months, international cotton prices have fallen by 25% to 68 cents per pound.
Cotton prices in India fell by only 6% during the period.
This allows Chinese importers to import higher quality cotton from other countries at a lower price.
Analysts said that China's demand for India's cotton imports was also related to the request of the Chinese authorities for cotton processors to import only about 20% more than the annual import quota of 850 tons.
At present, the cotton that has arrived in China but has not yet been sold is still lying in the warehouse of the Chinese port.
At the same time, China's cotton factories also prefer long staple cotton from Brazil.
However, if these exporters in India export the cotton that has arrived in China to India again, it is obviously not economical, because it needs to pay extra freight and the domestic price of India is also low.
At first, India businessmen believed that
El Nino
The weather will affect output, so domestic cotton prices will go up, but up to now, the weather has not been as expected.
book
market
Since the year, India has
Exit
11 million 500 thousand bales of cotton, higher than the 11 million 400 thousand package of the previous year, will reduce India's cotton export volume by 35-40% in the next market year.
In Vietnam and Bangladesh, several cotton mills have bought India cotton and processed it into cotton yarn and exported to China, but the problem is that China's imports of cotton yarn are also shrinking.
Therefore, these factors cause India's cotton exports to stagnant at present.
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