ndian cotton price in 2017-2020

As can be seen from the chart above, Indian cotton price in 2017-2020 hovered at 40,000rupees/candy for a long time, and last year it rose sharply to a high of more than 100,000 rupees/candy (the highest level was equal to $166 cents/lb), after which the price began to fall. However, as of yesterday, Indian cotton price remained above 63,000 rupees/candy (equal to $97 cents/lb), which is still at the high level of global cotton prices. High cotton prices inhibit consumption, coupled with weakening overseas demand, India's textile and apparel exports have fallen sharply for several months in a row. The latest data show that the preliminary value of India's textile and apparel exports in November fell 15.5% year-on-year, which has been five consecutive months of double-digit decline. Apparel exports performed better than textiles, and the latter declined by 30% y-o-y in November. From January to November, India's textile and apparel exports fell 2.4% year-on-year, of which textiles dropped by 11%, but apparel grew by 11.1%, indicating that India's textile exports shrink obviously this year.