Optimistic mood in south India cotton yarn, prices up in Mumbai

Mumbai market saw increase of ₹1-2 per kg in various counts and varieties of cotton yarn, especially in carded yarn. The market has witnessed increase in buying from power looms and auto looms. A trader from Mumbai market told Fibre2Fashion, “Cotton yarn will improve in the coming weeks as summer garmenting will pick up. Recent rise in cotton prices and improvement in garment exports also supported yarn prices.”

In Mumbai, 60-carded yarn of warp and weft varieties were sold before Diwali at ₹1,430-1,470 (approximately $16.95-$17.43) and ₹1,370-1,410 per 5 kg (approximately $16.24-$16.72) (excluding GST), respectively. Other prices include 60 combed warp at ₹334-341 (approximately $3.96-$4.04) per kg, 80-carded weft at ₹1,400-1,470 (approximately $16.60-$17.43) per 4.5 kg, 44/46-carded warp at ₹258-268 (approximately $3.06-$3.18) per kg, 40/41-carded warp at ₹252-262 (approximately $2.99-$3.11) per kg and 40/41 combed warp at ₹282-290 (approximately $3.34-3.44) per kg, according to trade sources.

In Tiruppur, knitting cotton yarn prices were steady but the market witnessed optimism for higher demand in the coming days. Traders said that recent gains in domestic cotton and the global market improved market sentiments. Buyers may come ahead for fresh buying and will rush to book cotton yarn before the prices increase. Gujarat based spinning mills are quoting cotton yarn prices higher by ₹1-2 per kg.

In Tiruppur, knitting cotton yarn prices were noted as: 30 count combed cotton yarn at ₹260-267 (approximately $3.08-3.17) per kg (excluding GST), 34 count combed cotton yarn at ₹269-276 (approximately $3.19-3.27) per kg, 40 count combed cotton yarn at ₹280-290 (approximately $3.32-3.44) per kg, 30 count carded cotton yarn at ₹236-241 (approximately $2.80-2.86) per kg, 34 count carded cotton yarn at ₹231-243 (approximately $2.74-2.88) per kg, and 40 count carded cotton yarn at ₹249-254 (approximately $2.95-3.01) per kg.

In Gujarat, cotton prices further rose by ₹500 per candy of 356 kg since late last week. Cotton procurement by Indian government’s nodal agency Cotton Corporation of India (CCI) reduced availability of seed cotton for ginning mills. Seed cotton and ginned cotton prices improved further. Additionally, increase in ICE cotton also supported domestic prices. Traders said that cotton arrival did not increase in the current season like the previous years. Farmers are not in a hurry to sell their crop at low prices. They are waiting to improve prices of seed cotton in the coming months. Cotton arrival was estimated at 30,000-40,000 bales of 170 kg in Gujarat, and 170,000-180,000 bales in the country.

The benchmark Shankar-6 cotton was quoted between ₹54,500-55,000 (approximately $646.12-$652.04) per candy of 356 kg, while southern mills were looking to buy cotton at ₹55,000-55,500 (approximately $652.04-$657.97) per candy. Seed cotton (Kapas) was traded at around ₹7,650-7,700 (approximately $90.69-$91.29) per quintal.

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)