India

Cotton prices fell more than 35% from its all-time high last month.

In January of this year, the price of 356 kg cotton (candy) was about 48500 rupees, and within a month, the price rose to a record high of 62000 rupee / candy. In March, the price lingered at 60000 rupees, then plummeted to 43000 rupees, and then picked up slightly.

The report said that 1 million 500 thousand bales of raw cotton and 1 million 500 thousand bags of processed cotton were not yet sold.

The spinning mill has 500 million kilograms of finished yarn without buyer.

These inventories lead to

Although global demand has led to price declines, businessmen have asked the government to reexamine it.

The average price of yarn dropped by more than 50%.

After a one-day strike nationwide, the spinning mills decided to reduce production by 1/3 in protest against the government's policies.

Shishir Jaipuria, chairman of the India Textile Industry Federation, said that although the farmers benefited a lot, the spinning mill was most seriously affected.

Tirup's printing and dyeing factory was closed, clothing production was reduced, and cotton and cotton yarn prices fell by more than 25%.

India's cotton exports will grow strongly, but now it seems that India has missed a good opportunity.