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Cotton prices experienced a decline due to sluggish milling demand, with prices falling by -1.1% recently. This drop in cotton prices is influenced by weak yarn demand and slow activity in mills, reflecting a broader trend of reduced demand in the cotton market.
Factors such as lower global yarn demand and a decrease in cotton exports from India by 61% in September 2022 compared to the previous year have contributed to the pressure on cotton prices amidst the challenging market conditions[1][3][4]. Additionally, India's cotton stocks are projected to decrease significantly in the upcoming year, indicating a complex landscape for the cotton industry impacted by various demand and supply dynamics[5].
Citations:
[1] https://www.linkedin.com/posts/deepakperiwal_cotton-fell-as-sluggish-milling-demand-remains-activity-7196757963645079554-QGEz
[2] https://oec.world/en/blog/indian-cotton-yarn-exports-drop-61-percent-in-the-first-three-quarters-of-2022
[3] https://textalks.com/pressure-on-cotton-prices-as-mill-demands-slow-amid-low-global-yarn-demand/
[4] https://www.linnseed.com/front/news_detail/533
[5] https://www.gleaf.in/index.php/news/cotton-remained-firm-as-demand-for-india-cotton-continues-to-be-strong
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