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Steady cotton yarn prices in south India amid cyclone Biparjoy fears

In Mumbai, cotton yarn prices stayed at their previous levels. The market sentiment remained bearish due to low demand from the weaving industry. A trader from the Mumbai market told Fibre2Fashion, “Cotton yarn may remain bearish for the next few weeks. We may only see an improvement in demand in July when power loom workers return from their summer break. Power loom owners will have to purchase yarn for production.” 

Trade sources mentioned that the market was in a ‘wait and watch’ mode ahead of the cyclone. Buyers were hesitant to make new purchases, as the natural calamity could disrupt regular activities. Gujarat has already seen disruptions in trade and industry. The local administration has banned various activities as a precaution. Even though the cyclone has weakened, it could still cause severe damage.