South India’s cotton yarn prices remained stable today amid weak market sentiments. Basic raw material was traded at previous prices because demand from downstream industry was low. Buyers in the entire value chain were cautious in the absence of end consumers. Price disparity at various levels was also the one of the causes for concern for the industry.
The Mumbai market witnessed a steady trend as buyers remained absent. “Demand from weaving industry further dampened as they were not getting support from garment units. Traders and manufacturing units were very cautious about fresh buying. They do not want to build up their stocks,” a trader from Mumbai told Fibre2Fashion.
In Mumbai, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,720-1,770 and ₹1,650-1,670 per 5 kg (GST extra) respectively. 60 combed warp was priced at ₹360-365 per kg. 80 carded (weft) cotton yarn was sold at ₹1,540-1,580 per 4.5 kg. 44/46 count carded cotton yarn (warp) was priced at ₹318-323 per kg. 40/41 count carded cotton yarn (warp) was sold at ₹305-310 per kg and 40/41 count combed yarn (warp) was priced at ₹325-330 per kg, according to Fibre2Fashion’s market insight tool TexPro.
Cotton yarn prices also remained stable in the Tiruppur market. There was limited buying activity due to seasonal impact, but buyers were cautious about the purchases. Traders said that the disparity in textile value chain was not good for the industry. Today, 30 count combed cotton yarn was traded at ₹305-310 per kg (GST extra), 34 count combed at ₹315-320 per kg and 40 count combed at ₹320-325 per kg in the Tiruppur market. Cotton yarn of 30 count carded was sold at ₹275-280 per kg, 34 count carded at ₹282-285 per kg and 40 count carded at ₹292-295 per kg, as per TexPro.
In Gujarat, cotton prices eased after a hike in the beginning of this week as the commodity was traded lower in domestic and global futures. According to the traders, spinning mills were buying cotton but they are very cautious and calculative due to the disparity persisting in the entire value chain. Cotton prices came down by ₹500-800 per candy of 356 kg. Cotton prices were noted at ₹68,500-69,500 per candy in Gujarat. Gujarat’s cotton arrival remained a topic of dispute as some traders estimated it at 20,000-25,000 bales of 170 kg, while others estimated it at 34,000-40,000 bales.
Source: Fibre2Fashion
