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South Indian cotton yarn market may remain bearish until March end

The Mumbai market has noted a bearish trend in cotton yarn, with prices remaining stable, but no trade occurring at current prices, as traders have indicated. "After Holi, workers have yet to come back from their native places in North India. In addition, businessmen are busy with annual accounting and squaring up trades due to the last fortnight of the current financial year ****-**. Smooth production is not their top priority in the current fortnight. Market sentiment is likely to remain bearish until the end of this month," Bharat Shah, a Mumbai-based trader told Fibre2Fashion. 

In Mumbai, ** count carded cotton yarn of warp and weft varieties were traded at &#****;*,***-*,*** and &#****;*,***-*,*** per * kg (GST extra) respectively. ** combed warp was priced at &#****;***-*** per kg; ** count carded (weft) cotton yarn was sold at &#****;*,***-*,*** per *.* kg; **/** count carded cotton yarn (warp) was priced at &#****;***-*** per kg; **/** count carded cotton yarn (warp) was sold at &#****;***-*** per kg and **/** count combed yarn (warp) was priced at &#****;***-*** per kg, according to Fibre2Fashion’s market insight tool TexPro.