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Demand for north Indian cotton yarn low; comber prices rise in Panipat

In the Ludhiana market, there was lower buying from the consumer industry, and cotton yarn prices remained range bound. A trader from the Ludhiana market told Fibre2Fashion, "Fabric supply is likely to increase in the coming weeks as over a thousand containers of knitting fabric will be released soon after declaration and duty settlement by concerned importers. Cotton yarn may further slow down due to increased supply of fabric in the textile value chain." Indian Finance Minister Nirmala Sitharaman had announced a duty hike on knitting fabric to restrict large imports of cheaper fabric. Following this, these containers were stuck at domestic ports. Sources also said that the higher return of winter garments in the Ludhiana market would also hurt the buying capacity of the downstream industry.

In Ludhiana, ** count cotton combed yarn was sold at &#****;***-*** (approximately $*.**-*.**) per kg (inclusive of GST); ** and ** count combed yarn were traded at &#****;***-*** (approximately $*.**-*.**) per kg and &#****;***-*** (approximately $*.**-*.**) per kg, respectively; and carded yarn of ** count was noted at &#****;***-*** (approximately $*.**-*.**) per kg today, according to trade sources.