South Indian cotton yarn prices stable despite rise in fibre costs

In the Mumbai market, there was regular demand, but buyers were purchasing cotton yarn in limited quantities. A trader from Mumbai told Fibre2Fashion, "There was average demand from power looms as they observed the lifting of fabric from the garment industry. However, the prices of cotton yarn and fabric did not see any rise in the last few days. There was a lack of confidence among buyers regarding higher demand from the downstream industry."

In Mumbai, 60 carded yarn of warp and weft varieties were sold at ₹1,375-1,420 (approximately $16.46-$17.01) and ₹1,270-1,320 per 5 kg (approximately $15.21-$15.81) (excluding GST), respectively. Other prices include 60 combed warp at ₹322-327 (approximately $3.86-$3.92) per kg, 80 carded weft at ₹1,300-1,340 (approximately $15.57-$16.05) per 4.5 kg, 44/46 carded warp at ₹260-267 (approximately $3.11-$3.20) per kg, 40/41-carded warp at ₹247-255 (approximately $2.96-$3.05) per kg and 40/41 combed warp at ₹280-283 (approximately $3.35-$3.39) per kg, according to trade sources.

In Tiruppur, cotton yarn prices also remained stable. Trade sources indicated that spinning mills did not increase their rates this month despite the rise in cotton prices. They had to bear higher production costs and felt pressure from the export market as well.

In Tiruppur, knitting cotton yarn prices were noted on Thursday as 30 count combed cotton yarn at ₹264-270 (approximately $3.16-3.23) per kg (excluding GST), 34 count combed cotton yarn at ₹274-279 (approximately $3.28-3.34) per kg, 40 count combed cotton yarn at ₹285-290 (approximately $3.41-3.37) per kg, 30 count carded cotton yarn at ₹239-246 (approximately $2.86-2.95) per kg, 34 count carded cotton yarn at ₹244-249 (approximately $2.92-2.98) per kg and 40 count carded cotton yarn at ₹249-255 (approximately $2.98-3.05) per kg.

In Gujarat, cotton prices remained steady. However, traders witnessed higher demand compared to selling. Traders reported that buyers were rushing to the market to secure cotton, but sellers were not keen on selling. Currently, MNCs are offering to sell cotton at slightly higher prices than current market levels. Stockists and ginners are still waiting for higher prices to clear their stocks, expecting new cotton arrivals to begin in 3-4 months. They anticipate cotton prices to rise in the coming months.

Cotton arrivals were recorded at 6,000-8,000 bales of 170 kg in Gujarat, with all-India arrivals estimated at 18,000-20,000 bales. The benchmark Shankar-6 cotton was quoted between ₹58,000-58,500 (approximately $694.60-$700.59) per candy of 356 kg, while southern mills were looking to buy cotton at ₹59,000-59,500 (approximately $706.57-$712.56) per candy.

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)