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Bearish trend in north India's cotton yarn, prices down in Ludhiana

Market experts noted that spinning mills were reluctant to sell cotton at lower prices, providing an opportunity for stockists and traders to sell their stocks for profit booking. Meanwhile, buyers were hesitant about fresh bookings amid concerns regarding payment rules, and the government has not yet offered any relief. If a buyer purchases cotton yarn from micro and small manufacturers and carries forward the outstanding amount to the next fiscal, they may face income tax implications.

In Ludhiana, the price of cotton yarn eased by &#****;* per kg. A trader from the Ludhiana market informed Fibre2Fashion, "Buyers were not keen on fresh purchases to avoid payment liabilities for micro and small enterprises beyond March ** this year. The government has not provided any relief regarding this payment rule. Stockists were active in selling their stock for profit booking."