Cotton yarn prices decline further in south India on selling pressure

A trader from Mumbai told Fibre2Fashion, “There is no demand in market which forced traders and stockists to reduce prices. Labour shortage in Bhiwandi also dampened cotton yarn buying in Maharashtra.” The sentiments are already weak after some weaving units defaulted in payment last week.

In Mumbai market, cotton yarn prices lost ₹5-15 per kg. 60 count carded cotton yarn of warp and weft varieties were traded at ₹2,000-2,050 and ₹1,920-1,970 per 5 kg (GST extra) respectively. Carded cotton yarn (44/46 count) of warp variety was traded at ₹1,900-1,940 per 5 kg. 80 count carded cotton yarn of weft variety was sold at ₹2,050-2,090 per 4.5 kg. 40 count carded cotton yarn (warp) was sold at ₹355-358 per kg. 40 count combed yarn (warp) was priced at ₹410-430 per kg, according to Fibre2Fashion’s market insight tool TexPro.

Traders from Tiruppur said that traders and stockists are now less confident about further support in yarn prices, and hence are selling their stocks in panic. Selling pressure caused for down fall of ₹2-5 per kg as buyers remained absent from the market. Current disparity in prices of textile value chain is discouraging buyers.

In Tiruppur market, 30 count combed cotton yarn was traded at ₹400-410 per kg (GST extra), 34 count combed at ₹420-425 per kg and 40 count combed at ₹435-440 per kg. Cotton yarn of 30 count carded was sold at ₹365-373 per kg, 34 count carded at ₹378-383 per kg, and 40 count carded at ₹387-390 per kg, as per TexPro.

In Gujarat, cotton prices gained slightly after down fall on Thursday. MCX had cut open position limits which caused for decline in cotton prices. But today, cotton prices improved due to lower supply. Cotton prices were hovering at around ₹97,500-98,500 per candy of 356 kg.

ALCHEMPro News Desk (KUL)