North India cotton yarn prices stable amid cautious optimism

The Ludhiana market observed stability in cotton yarn prices. Spinning mills are receiving higher local as well as export demand. There was no pressure on mills to sell their production. A trader from the Ludhiana market told Fibre2Fashion, “Mills expect better demand from local and export markets. Local buyers are purchasing cotton yarn on a regular basis as current prices are hovering at comfortable levels. Export demand may also improve as the falling rupee provides a cushion to Indian mills.”

In Ludhiana, 30-count cotton combed yarn was sold at ₹260-270 (approximately $3.00-3.12) per kg (inclusive of GST); 20 and 25-count combed yarn were traded at ₹250-260 (approximately $2.89-3.00) per kg and ₹255-265 (approximately $2.95-3.06) per kg, respectively; and carded yarn of 30-count was noted at ₹240-245 (approximately $2.77-2.83) per kg today, according to trade sources.

The Delhi market also saw steadiness in cotton yarn prices. There was a sense of optimism for better demand from the export market. Domestic demand was average in the market. According to market sources, Indian yarn was facing price disparity due to costlier cotton prices in the domestic market. However, the falling rupee may provide relief to Indian mills and exporters.

In this market, 30-count combed knitting yarn was traded at ₹260-262 (approximately $3.00-3.03) per kg (GST extra), 40-count combed at ₹282-290 (approximately $3.26-3.35) per kg, 30-count carded at ₹237-239 (approximately $2.74-2.76) per kg, and 40-count carded at ₹262-265 (approximately $3.03-3.06) per kg today.

India’s home textile hub, Panipat, was facing poor demand from the retail segment. Slow buying is discouraging consumption industries from purchasing raw materials. Recycled yarn prices remained stable in the market. Raw materials like polyester staple fibre and cotton combers were also traded steadily in the market. A trader from Panipat mentioned that there was slightly higher buying of retail products due to the Maha Kumbh being held in north India’s Uttar Pradesh. The event generated demand for blankets and other winter clothing, but the demand is over now. This has led to slow buying for recycled yarn and its products.

In Panipat, 10s recycled PC yarn (grey) was traded at ₹78-82 (approximately $0.90-0.95) per kg (GST paid). Other varieties and counts were noted as follows: 10s recycled PC yarn (black) at ₹53-56 (approximately $0.61-0.65) per kg, 20s recycled PC yarn (grey) at ₹96-102 (approximately $1.11-1.18) per kg, and 30s recycled PC yarn (grey) at ₹130-135 (approximately $1.50-1.56) per kg. Cotton comber prices were noted at ₹102-108 (approximately $1.18-1.25) per kg, while recycled polyester fibre (PET bottle fibre) was noted at ₹79-84 (approximately $0.91-0.97) per kg today.

In North India, cotton prices increased further by ₹10 per maund of 37.2 kg over the last couple of days. However, prices remained stable on the first day of this week. Traders noted that ginners are actively buying seed cotton to build sufficient stocks for the coming off-peak arrival months. Seed cotton prices have been steady over the last couple of days. Farmers are able to sell their produce at current prices very quickly. Spinning mills are also purchasing cotton in preparation for the forthcoming seasonal demand.

North India’s cotton arrival was 9,500 bales of 170 kg, comprising 500 bales in Punjab, 2,500 bales in Haryana, 3,500 bales in upper Rajasthan, and 3,000 bales in lower Rajasthan. Cotton prices in Punjab ranged from ₹5,590 to ₹5,600 (approximately $64.58-64.69) per maund of 37.2 kg, while in Haryana, prices ranged from ₹5,580 to ₹5,600 (approximately $64.46-64.69). In upper Rajasthan, cotton was priced between ₹5,590 and ₹5,610 (approximately $64.58-64.81) per maund. In lower Rajasthan, it was priced at ₹53,300 to ₹54,400 (approximately $615.72-628.43) per candy of 356 kg. Seed cotton was priced at ₹7,200-7,600 (approximately $83.17-87.79) 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)