Another bumper crop of cotton is in offing and tremors are felt already on the price front. The Cotton Corporation of India (CCI) is getting ready for yet another year of minimum support price (MSP) operations.
Browsing: Fibres & Raw Materials
European polypropylene (PP) prices are going down by at least the ?80/tonne propylene monomer contract drop for August. Supply has eased from its former extreme tightness
Asia´s purified terephthalic acid (PTA) industry is expected to come under increasing pressure in 2016 as India adds 2.3 mt to its production capacity in the first half of 2016, industry sources said.
The devaluation of Chinese currency yuan will have an adverse impact on India´s textiles exports and clothing, which is facing sluggish growth due to recessionary conditions in global markets. The surprise move by China to devalue its currency is a threat to the pace of India´s exports, according to analysts.
Recycled polyethylene terephthalate (R-PET) prices in Asia fell to a record low and may continue trending down with importers in China opting to stay out of the market amid domestic economic weakness.
Crude oil futures fell to multi-month lows on both sides of the Atlantic in early August, while global oil demand growth is expected to increase by 90,000 bbl/day over previous estimates, the Organisation of Petroleum Exporting countries (OPEC) said recently.
The Cotton Association of India fears that India may be piling up huge inventory of cotton just like China, if the Cotton Corporation of India (CCI) does not take measures to offload its stock swiftly. Maintaining the cotton output at the last estimated level of 38.27 million bales (a bale is 170 kg), Dhiren N Sheth, President, CAI, says the Corporation had procured about 8.7 million bales from farmers as part of the Government’s minimum support price commitment.