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Cotton yarn prices surge in north India following MSP hike

The Ludhiana market saw a surprising gain of &#****;* per kg in cotton yarn prices after the MSP hike by the government. Although demand was not encouraging from the garment and fabric industry, traders and stockists raised cotton yarn prices. A trader from the Ludhiana market told Fibre2Fashion, "Higher MSP will push up raw material prices in the entire value chain of cotton yarn. Spinning mills may increase prices of cotton yarn. Stockists and traders have hiked prices immediately. However, buyers were keen to purchase at the previous prices.”

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.