Spun yarn prices have further fallen in India, with polyester-cotton and 100% polyester sharply down in the last four weeks.
Spun yarn prices have further fallen in the last seven days in India.
In Tirupur, polyester-cotton prices have lost 5 rupees per kilo or 2.6%, having dropped nearly 6% in only four weeks.
100% polyester yarns have even plunged by more than 10% in the meantime, after again declining by 7 rupees in the past seven days.
In Bhiwandi, weaving yarn prices have also fallen, although less significantly.
100% PSF yarns are down 7.3% in four weeks but 100% cotton has only decreased by 2.4%.
In Ludhiana, knitting polyester has plunged by 8.6%, with carded poly-cotton dropping 6% in four weeks.
Demand is relatively weak in India and spinners are forced to lower their prices.
The fall of polyester staple fiber prices at the start of June has triggered a sharp decline of spun polyester prices.
Cotton prices have even begun declining in the last seven days with Shankar 6 losing 600 rupees per candy or 1.3%.
Although tight supply is reported on the market after production has heavily fallen from the previous season, domestic cotton prices are being pressured by the sharp decline of cotton prices on the international market.
With traders and spinners turning to foreign cotton, fiber and yarn prices are sliding in line with New York.
On export markets, in addition, Indian spinners are confronted with surging competition from Pakistan where the rupee has again significantly dropped in the past weeks.
On the other hand, cotton import prices have less fallen in rupee terms in Pakistan than elsewhere, limiting the decline of yarn export prices in dollar terms.