Cotton yarn prices stable in south India as buying drops

In Mumbai, the cotton yarn market has observed stability in prices despite a further weakening in demand. Mills have been offering discounts for bulk purchases, with the reductions ranging from ₹2-3 per kg. A trader from Maharashtra informed Fibre2Fashion, "Demand is unlikely to gain traction in the textile value chain during the current fortnight. Consumers tend to avoid making purchases during this period, which negatively impacts demand across the entire textile value chain. As a result, spinning mills appear to be under pressure and are offering discounts." 

In Mumbai, 60 carded yarn of warp and weft varieties was sold at ₹1,420-1,440 and ₹1,300-1,350 per 5 kg (excluding GST), respectively. Other prices include 60 combed warp at ₹322-328 per kg, 80 carded weft at ₹1,400-1,440 per 4.5 kg, 44/46 carded warp at ₹250-255 per kg, 40/41 carded warp at ₹236-242 per kg and 40/41 combed warp at ₹262-266 per kg, according to Fibre2Fashion's market insight tool TexPro. 

The cotton yarn market in Tiruppur has seen a stable trend in prices, despite slower demand from the weaving industry. A trader from Tiruppur informed Fibre2Fashion, "Pitru Paksh affects buying activities in rural areas, while urban areas are least affected due to the easing of traditions among the urbanite population. Spinners are under pressure to sell their stock as current demand is very weak." 

Prices in the Tiruppur market were noted as 30 count combed cotton yarn at ₹263-268 per kg (excluding GST), 34 count combed cotton yarn at ₹271-276 per kg, 40 count combed cotton yarn at ₹282-287 per kg, 30 count carded cotton yarn at ₹238-243 per kg, 34 count carded cotton yarn at ₹242-247 per kg and 40 count carded cotton yarn at ₹250-255 per kg, as per TexPro. 

In Gujarat, cotton prices have decreased due to limited buying and concerns over weak sentiment in the textile value chain. Traders noted that spinning mills have refrained from new purchases, citing lacklustre demand from the downstream industry. In the Gujarat market, Shankar-6 cotton was quoted between ₹60,400 and ₹60,800 per candy of 356 kg. Cotton arrivals in Gujarat were around 14,000 bales, each weighing 170 kg, while all-India arrivals were estimated at 45,000 to 46,000 bales. 

ALCHEMPro News Desk (KUL)