South India cotton yarn notices slow demand, prices ease in Tiruppur

Mumbai market saw stability in cotton yarn prices amid slow demand. A trader from Mumbai market told Fibre2Fashion, “Currently, power looms and auto looms are running on lower capacity. After state assembly election, the market may see higher demand as production activities may pick up in the downstream industry.”

In Mumbai, 60-carded yarn of warp and weft varieties were sold at ₹1,420-1,460 (approximately $16.81-$17.28) and ₹1,360-1,400 per 5 kg (approximately $16.10-$16.57) (excluding GST), respectively. Other prices include 60 combed warp at ₹332-339 (approximately $3.93-$4.02) per kg, 80-carded weft at ₹1,390-1,460 (approximately $16.45-$17.28) per 4.5 kg, 44/46-carded warp at ₹257-266 (approximately $3.04-$3.15) per kg, 40/41-carded warp at ₹251-260 (approximately $2.97-$3.08) per kg and 40/41 combed warp at ₹280-288 (approximately $3.31-3.41) per kg, according to trade sources.

Tiruppur market witnessed a slight fall in in cotton yarn prices in the last couple of days. The market had noticed fall of ₹1-2 per kg in cotton yarn after ease in the natural fibre in the beginning of this week. But the sentiments improved after rise in cotton prices in local and international markets. A trader from the market said that there was average demand from buyers. Current buying is enough to maintain cotton yarn prices at present levels. Garment export is good to support upstream value chain, but yarn export is not so pretty due to price disparity, which is hurting market sentiments in cotton yarn trade.

In Tiruppur, knitting cotton yarn prices were noted as: 30 count combed cotton yarn at ₹260-267 (approximately $3.08-3.16) per kg (excluding GST), 34 count combed cotton yarn at ₹269-276 (approximately $3.18-3.28) per kg, 40 count combed cotton yarn at ₹280-290 (approximately $3.34-3.56) per kg, 30 count carded cotton yarn at ₹236-241 (approximately $2.81-2.87) per kg, 34 count carded cotton yarn at ₹231-243 (approximately $2.73-2.88) per kg and 40 count carded cotton yarn at ₹249-254 (approximately $2.95-3.01) per kg.

In Gujarat, cotton prices gained by ₹300-500 per candy of 356 kg in the last couple of days. Rise in ICE cotton and procurement by Cotton Corporation of India (CCI) have raised market sentiments. CCI has begun cotton procurement in several states. But it is procuring cotton mainly from Telangana and Andhra Pradesh as the price of seed cotton is quite lower than the MSP in these states. Traders said that cotton buying from CCI will not allow prices to come down. The prices may remain range bound in the near future. Cotton arrival was estimated to be 25,000-30,000 bales of 170 kg in Gujarat and 155,000 bales across the country.

The benchmark Shankar-6 cotton was quoted between ₹54,000-54,500 (approximately $639.25-$645.17) per candy of 356 kg, while southern mills were looking to buy cotton at ₹54,500-55,000 (approximately $645.17-$651.09) per candy. Seed cotton (Kapas) was traded at around ₹7,600-7,650 (approximately $89.97-$90.56) 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)