South Indian cotton yarn market bearish; prices down in Mumbai

The Mumbai market also experienced a downtrend due to sluggish demand and increased selling pressure from traders and mills. A trader from Mumbai, speaking to Fibre2Fashion, noted, "The consumer industry, traders, and MNCs were quiet in the market, buying only out of urgent necessity. They are likely to consider re-entering the market next month." This selling pressure led to a price decrease of ₹2-3 per kg in the Mumbai market.

In Mumbai, 60 carded yarn of warp and weft varieties were sold for ₹1,490-1,520 (approximately $17.89-18.25) and ₹1,390-1,450 (approximately $16.69-17.41) per 5 kg (excluding GST), respectively. Other prices included 60 combed warp at ₹332-337 (approximately $3.99-4.05) per kg, 80 carded weft at ₹1,460-1,500 (approximately $17.53-18.01) per 4.5 kg, 44/46 carded warp at ₹265-272 (approximately $3.18-3.27) per kg, 40/41 carded warp at ₹260-265 (approximately $3.12-3.18) per kg, 40/41 combed warp at ₹296-302 (approximately $3.55-3.63) per kg, and 30/32 carded warp at ₹255-260 (approximately $3.06-3.12) per kg, according to Fibre2Fashion's market insight tool TexPro.

The Tiruppur market observed slow demand, yet prices remained steady. A trader from this market conveyed to F2F, “Everyone is busy managing their books and finances. They can postpone their purchasing until next week but cannot delay their bookkeeping. Buyers are very cautious about carrying over any liabilities into the next fiscal. They have to ensure there is no additional tax liability for this fiscal.”

In the Tiruppur market, cotton yarn prices were recorded as 30 count combed cotton yarn at ₹275-282 (approximately $3.32-3.40) per kg (excluding GST), 34 count combed cotton yarn at ₹280-288 (approximately $3.38-3.48) per kg, 40 count combed cotton yarn at ₹293-303 (approximately $3.54-3.66) per kg, 30 count carded cotton yarn at ₹245-253 (approximately $2.96-3.05) per kg, 34 count carded cotton yarn at ₹254-260 (approximately $3.06-3.14) per kg, and 40 count carded cotton yarn at ₹260-268 (approximately $3.14-3.23) per kg, according to TexPro.

In Gujarat, cotton prices stabilised due to subdued demand from spinning mills. The arrival of cotton was also slow after the Holi festival. However, MCX cotton showed a positive trend following an improvement in ICE cotton. Trade sources noted slow purchasing from the consumer industry, MNCs, and traders. Cotton arrival in Gujarat was recorded at 25,000-17,000 bales of 170 kg. Nationwide, the arrival was estimated at 60,000-62,000 bales. In Gujarat, the benchmark Shankar-6 cotton was priced between ₹60,000-60,500 (approximately $720.40-726.44) per candy of 356 kg. Southern mills were looking to purchase cotton at ₹61,000-61,500 (approximately $732.44-738.45) per candy.

Disclaimer: The prices in this article are for guidance only. 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)