Cotton yarn prices steady in south India as cash crunch impacts demand

In Mumbai, cotton yarn prices were hovering at previous levels. Powerlooms remained cautious for new buying. Heavy rains also restricted weaving industry’s production. A trader from Mumbai market told Fibre2Fashion, “Fabric demand was poor which caused for payment issue in the market. Buyers remained in hand-to-mouth situation due to uncertain market conditions. Traders and spinners were offering discounts if buyers gave commitment of buying in large quantity.”

In Mumbai, 60 count carded cotton yarn of warp and weft varieties was sold at ₹1,420-1,445 and ₹1,290-1,330 per 5 kg (excluding GST), respectively. 60 combed warp was offered at ₹325-330 per kg, 80 carded (weft) cotton yarn at ₹1,325-1,350 per 4.5 kg, 44/46 count carded cotton yarn (warp) ₹254-260 per kg, 40/41 count carded cotton yarn (warp) ₹244-248 per kg and 40/41 count combed yarn (warp) ₹270-275 per kg, according to Fibre2Fashion's market insight tool TexPro.

In the Tiruppur market also, cotton yarn prices were steady amid slower demand. The market continued to see poor demand from weaving industry. A trader from Tiruppur told F2F, “Cotton yarn prices did not see any major change. But the trend of lucrative discounts prevailed. Mills will review cotton yarn prices on Saturday for next month. Traders remained clueless about revival of demand.”

Prices in the Tiruppur market were noted as: 30 count combed cotton yarn ₹262-268 per kg (excluding GST), 34 count combed cotton yarn ₹273-280 per kg, 40 count combed cotton yarn ₹283-290 per kg, 30 count carded cotton yarn ₹240-245 per kg, 34 count carded cotton yarn ₹247-252 per kg and 40 count carded cotton yarn ₹250-257 per kg, as per TexPro.

In Gujarat, cotton prices noticed upward trend. The natural fibre found support from stronger ICE cotton. The prices have improved by ₹1,000-1,200 per candy of 356 kg in last couple of days. Traders said that spinners were also active for fresh buying. The market witnessed better sentiments. Cotton was traded at ₹55,700-56,200 per candy of 356 kg. Cotton arrival was estimated at around 10,000 bales of 170 kg in Gujarat, while the all-India arrival was estimated at 38,000-40,000 bales.

ALCHEMPro News Desk (KUL)