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Sluggish trend in south India cotton yarn; mills increase rates

Market experts said that spinners increased the mill rate of yarn prices due to costlier cotton. But there was no rush of buyers to book new deals before the increase in prices. Cotton yarn prices are reportedly facing tight money. Few traders felt that the upcoming election was also causing tight cash flow.

The Tiruppur market noted steadiness in cotton yarn prices. A trader from the Tiruppur market told Fibre2Fashion, “Spinners have increased mill rates of cotton yarn after a recent hike in the natural fibre. However, we have to wait until next week to see the response from buyers. In anticipation of a price rise, the consumer industry was not in a hurry to buy yarn before the rise in prices.”