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South Indian cotton yarn market bearish; steep fall in Mumbai

Overall, cotton yarn in south India has continued to exhibit a bearish tone. However, the Tiruppur market in south India remains optimistic about better demand in the coming weeks as normalcy is expected to return to Tamil Nadu following the completion of voting in the general elections. In contrast, the Mumbai market does not anticipate an improvement in demand in the near future.

The Mumbai market has noted a declining trend in cotton yarn prices. Weaving cotton yarn has slipped by &#****;*-** per kg, although mills have slashed prices by up to &#****;* per kg. A trader from Mumbai, speaking to Fibre2Fashion, reported, "There was poor uptake from the downstream industry. The garment industry was very slow in buying fabric. The slow demand and recent fall in the price of cotton have contributed to the fall in yarn prices. Mills have also tried to attract buyers by offering lower prices.”