Cotton yarn prices down in Mumbai, south India sees limited demand

The Mumbai market witnessed a drop of ₹2-3 per kg in most counts and varieties. Mumbai is set to vote on May 20, in the fifth and last phase of Maharashtra. A trader from Mumbai informed Fibre2Fashion, "After the voting, the market will see better payment flow. Buyers and sellers were not interested in new deals. Slow demand in the retail market also remained a cause for concern.”

In Mumbai, 60 carded yarn of warp and weft varieties were sold at ₹1,410-1,460 (approximately $16.89-$17.48) and ₹1,310-1,375 per 5 kg (approximately $15.69-$16.47) (excluding GST), respectively. Other prices include 60 combed warp at ₹330-334 (approximately $3.95-$4.00) per kg, 80 carded weft at ₹1,400-1,440 (approximately $16.77-$17.24) per 4.5 kg, 44/46-carded warp at ₹252-260 (approximately $3.02-$3.11) per kg, 40/41-carded warp at ₹257-262 (approximately $3.08-$3.14) per kg, 40/41 combed warp at ₹290-295 (approximately $3.47-$3.53) per kg, and 30/32-carded warp at ₹245-247 (approximately $2.93-$2.96) per kg, according to trade sources.

The Tiruppur market also witnessed sluggish demand from fabric manufacturers. However, the market did not see any fall in cotton yarn prices. Trade sources indicated that payment flow also slowed down as the entire value chain is facing slow demand. Traders and manufacturers were facing the problem of huge stock due to poor buying.

In Tiruppur, knitting cotton yarn prices were noted on Thursday as follows: 30-count combed cotton yarn at ₹268-273 (approximately $3.21-3.27) per kg (excluding GST), 34 count combed cotton yarn at ₹277-282 (approximately $3.32-3.38) per kg, 40-count combed cotton yarn at ₹290-295 (approximately $3.47-3.53) per kg, 30 count carded cotton yarn at ₹244-249 (approximately $2.92-2.98) per kg, 34-count carded cotton yarn at ₹251-255 (approximately $3.01-3.06) per kg, and 40-count carded cotton yarn at ₹257-262 (approximately $3.08-3.14) per kg.

In Gujarat, cotton prices gained slightly after a deep fall last week. The prices recovered ₹200-300 per candy of 356 kg as sellers were discouraged by lower prices. Traders said that after the steep fall in cotton prices, producers and ginners were not interested in selling their stocks. Cotton arrivals are decreasing day by day. Cotton arrivals were recorded at 14,000-15,000 bales of 170 kg in Gujarat, with all-India arrivals estimated at 38,000-40,000 bales. In Gujarat, the benchmark Shankar-6 cotton was quoted between ₹57,000-57,500 (approximately $682.60-$688.59) per candy of 356 kg, while southern mills were looking to buy cotton at ₹57,500-58,000 (approximately $688.59-$694.58) per candy.

Disclaimer: The prices in this article are based on market sources and hence, readers are recommended to do their own research before making any decision. The publisher and their affiliates are not liable for any inaccuracies or actions taken based on this information.

ALCHEMPro News Desk (KUL)