South India's cotton yarn market steady amid muted demand

The Tiruppur market has observed a steady trend in cotton yarn prices, despite poor uptake from the weaving industry. Both the weaving sector and garment manufacturing units are focusing on clearing their existing stocks in the current festival season. Purusottam Parmanandka, the joint managing director of Tiruppur-based yarn trading company Kesharinandan Knit Fabrics Pvt Ltd, told Fibre2Fashion, "The weaving industry has shown poor lifting of cotton yarn. Buyers did not anticipate much demand for fabric from the garment industry. However, buyers may return for restocking as Diwali approaches." 

Prices in the Tiruppur market were noted as 30 count combed cotton yarn at ₹260-265 per kg (excluding GST), 34 count combed cotton yarn at ₹268-273 per kg, 40 count combed cotton yarn at ₹280-285 per kg, 30 count carded cotton yarn at ₹238-243 per kg, 34 count carded cotton yarn at ₹241-246 per kg and 40 count carded cotton yarn at ₹250-255 per kg, according to Fibre2Fashion's market insight tool TexPro. 

The Mumbai market has also observed a steady trend in cotton yarn prices amid slower demand. However, there has been better buying activity in 30/32 count yarn. A trader from Mumbai informed Fibre2Fashion, "There hasn't been much movement in cotton yarn prices, but trading and production activities have been normal in Maharashtra and surrounding areas. The 30/32 count cotton yarn has seen higher demand over the last few days." 

In Mumbai, 60 carded yarn of warp and weft varieties was sold at ₹1,400-1,420 and ₹1,275-1,330 per 5 kg (excluding GST), respectively. Other prices include 60 combed warp ₹315-322 per kg, 80 carded weft ₹1,380-1,420 per 4.5 kg, 44/46 carded warp ₹250-255 per kg, 40/41 carded warp ₹236-242 per kg, 40/41 combed warp ₹262-266 and 30/32 carded warp ₹225-230 per kg, as per TexPro.  

In Gujarat, cotton prices weakened today, following improvements on Monday. Prices eased by ₹200-300 per candy of 356 kg in the local market. Traders anticipate that arrivals will pick up within the next week as mills commence production, at least on a token basis, during the auspicious fortnight of Navratri. However, spinning mills have shown little interest in purchasing, citing disparities in yarn production. Shankar-6 cotton for the new season was quoted between ₹57,500-58,000 per candy of 356 kg, while old cotton was priced around ₹58,200-58,800 per candy. The day's arrivals in Gujarat stood at approximately 18,000 bales of 170 kg, with all-India arrivals estimated at 70,000-75,000 bales. 

ALCHEMPro News Desk (KUL)