North India cotton yarn may not see support until Diwali

Ludhiana market did not see active buying of cotton yarn, although consumer industries are buying in limited quantity. A trader from Ludhiana told Fibre2Fashion, “After beginning of Navratri, buyers are coming to the market. But they are buying in very limited quantities. They are cautious for buying ahead of cotton arrival. Summer season’s buying will come up after one month.”

In Ludhiana, 30 count cotton combed yarn was sold at ₹262-272 (approximately $3.13-3.25) per kg (inclusive of GST); 20 and 25 count combed yarn were traded at ₹252-262 (approximately $3.01-3.13) per kg and ₹257-267 (approximately $3.07-3.19) per kg, respectively; and carded yarn of 30 count was noted at ₹242-247 (approximately $2.89-2.95) per kg today, according to trade sources.

Delhi market also witnessed steady trend in cotton yarn prices. The market saw average demand from downstream industry. According to trade sources, there will be limited trading activities in cotton yarn trade until Diwali. Now, it is time for retail sale of garment and other textile products. The market will have to wait for next summer season’s buying and manufacturing activities.

In this market, 30 count combed knitting yarn was traded at ₹267-270 (approximately $3.19-3.22) per kg (GST extra), 40 count combed at ₹289-297 (approximately $3.45-3.54) per kg, 30 count carded at ₹244-246 (approximately $2.91-2.94) per kg, and 40 count carded at ₹269-272 (approximately $3.21-3.25) per kg today.

India’s home textiles hub of Panipat noticed increase of ₹2 per kg in recycled polyester fibre price. However, recycled yarn and cotton comber did not see any significant movement in their prices. Market sources said that there was thin trade in recycled yarn market as people are busy in political engagements and discussions as the results of the state assembly elections are awaited. Buyers are expected to turn up after the election results are declared. Sources said that rising crude oil amid escalation of military conflict in the Middle East and costlier PET bottle supported recycled polyester fibre. The producers are receiving enough demand to command higher prices. They are passing increased cost of production to the buyers.

In Panipat, 10s recycled PC yarn (Grey) was traded at ₹78-82 (approximately $0.93-0.98) per kg (GST paid). Other varieties and counts were noted at 10s recycled PC yarn (Black) at ₹53-56 (approximately $0.63-0.67) per kg, 20s recycled PC yarn (Grey) at ₹96-102 (approximately 1.14-1.21) per kg and 30s recycled PC yarn (Grey) at ₹130-135 (approximately $1.55-1.61) per kg. Cotton comber prices were noted at ₹100-107 (approximately $1.19-1.27) per kg. The price of recycled polyester fibre (PET bottle fibre) was noted at ₹75-80 (approximately $0.89-0.95) per kg today.

In north India, new cotton prices eased by ₹50 per maund amid increasing arrival. Cotton arrival increased to around 3,800-4,000 bales of 170 kg in the region. Trade sources said that mills are buying cotton as per their requirement, but the prices came under pressure due to higher arrival. First cotton recipient state Haryana will see more arrival after couple of days when assembly elections fervour subsides once the results are declared, and a new state government is formed. Traders said that cotton quality is quite good and higher yield is expected due to conducive weather. But lower acreage will bring down total cotton production in north India.

Haryana noticed cotton arrival of 1,500 bales, Punjab 600 bales, upper Rajasthan 800 bales and lower Rajasthan 1,000 bales. New cotton was traded in a range of ₹5,760-5,770 (approximately $68.60-68.72) per maund of 37.2 kg in all the markets of north India. While seed cotton was priced at ₹7,000-7,400 (approximately $83.37-88.14) per quintal of 100 kg.

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)