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North India cotton yarn unmoved by budget, prices stable

The Ludhiana market noticed average to slow demand from the downstream industry. Market participants are trying to get a clear direction on budget provisions. The market saw stability in cotton yarn prices. A trader from the Ludhiana market told Fibre2Fashion, “Higher duty on knitting fabric may provide indirect support if it really proves effective in checking the flooding of fabric. Importers are trying to find a way to escape the provision of higher duty.” The Indian government has imposed a duty of ** per cent or &#****;*** per kg (whichever is higher) on knitting fabric, mainly imported from China.

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.