Military Camouflage,Military Camo,Army Camouflage,Camouflage Material CHANGXING JINMAOCHANG TEXTILE CO.,LTD. , https://www.jmcknittedfabric.com
India, the world's second-largest producer, saw its cotton prices rise slightly this week
Due to the acquisition of state-owned institutions, the cotton price in India, the world's second-largest producer, rose slightly this week and the export demand was weak. However, the acquisition of state-owned institutions may reduce the pressure on cotton supply in the spot market. Arunbhai Dalal, a trader in Ahmedabad, Gujarat, said that in some states the government has started to buy and the other states will start buying. Government takeovers may push up cotton prices this week. In the marketing year starting October 1, 2012, state-run Indian Cotton Corporation (CCI) has purchased about 1.3 million bales (170 kg), and most of the cotton merchants expect that Indian cotton will buy another 7 million bales. This can curb cotton supply in the spot market in the coming weeks. Although the supply of cotton in the spot market has been increasing this year, it is still down 12% to 8.8 million bales as many peasants are reluctant to take goods and are waiting for government intervention. Yarn businesses may support domestic prices, and they expect exports to grow 20%. However, weakened demand for raw cotton from China, the world's largest textile-producing country and India's largest buyer of cotton, could weaken domestic cotton prices in India. Due to the slowdown in the European and American economies, weakened demand for textile consumption, China has reduced its fiber imports while its output in China has increased. The Cotton Association of India reported Monday that the Shankar-6 cotton, the largest traded volume, rose 200 rupees to 33,400 rupees ($ 600) / candy (356 kg) at around 77 cents / lb. The Cotton Exchange for January delivery on the Commodity Exchange (MCX) settled at Rs 16,410 on Tuesday.