India Denim Falling Price Profits Hit
In recent two months, the price of denim in India's domestic market has dropped by 10% due to cheaper cotton.
As cotton prices plummet,
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The price of fabrics has begun to drop and may continue to decline.
The benchmark price, which was 140 rupees / meters earlier, has now dropped to 120 rupees / meters.
As cotton prices have plummeted in the past two months, denim prices are expected to drop by 10%.
Amir Akhtar, chief executive of Arvind denim textile factory, said: "in the past two months, the denim price in the domestic market has dropped by 10%, because the price of cotton has dropped." (Aamir)
Utsav Pandvar, chief financial officer of Aarvee denim, said: "we have cut the denim price by 5% and will cut 10% further.
Export demand is not big, but it is not too bad. Domestic demand is not a problem. "
KG denim said the price of cotton and cotton yarn has declined.
Denim
Businesses have no choice but to cut fabric prices.
Arvind's Denim market share is 24%, Aarvee's market share is 12%, and KG's market share is 5%.
The benchmark is still Carle - 6 cotton prices have fallen from the peak of 63000 rupees / candy (356 kg) in February to 31000 rupees / candy now.
The price of 40s combed cotton yarn also dropped from 275 rupees / kg in February to 165 rupees / kg.
The slowdown in demand for garment retail also has an impact on the denim market.
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The higher level also affects the profits of enterprises, and the weaving mills have to cut prices.
Cotton purchasing prices may be low now, but new procurement takes some time.
New cotton will enter the market in a few months.
Cotton prices plummeted in April and May, but looms refused to cut prices because export demand was strong.
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