Contradictory behaviours within the textile value chain have left cotton yarn traders and buyers clueless. Cotton prices remained steady in Mumbai and Tiruppur today amid poor buying from the weaving industry. Demand from weaving and garment industries was weak, so yarn prices failed to find support. But cotton prices are rising amid limited arrival.
Mumbai market witnessed a stable trend in cotton yarn prices. “Buyers were reluctant at increasing cotton yarn prices. Demand from the weaving and garment industry was not supportive. But cotton prices are gaining due to low arrival,” a trader from Mumbai told Fibre2Fashion.
In Mumbai, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,670-1,720 and ₹1,600-1,620 per 5 kg (GST extra), respectively. 60 combed warp was priced at ₹355-360 per kg. 80 carded (weft) cotton yarn was sold at ₹1,500-1,540 per 4.5 kg. 44/46 count carded cotton yarn (warp) was priced at ₹310-315 per kg, according to Fibre2Fashion’s market insight tool TexPro. 40/41 count carded cotton yarn (warp) was sold at ₹300-305 per kg and 40/41 count combed yarn (warp) was priced at ₹320-325 per kg.
Tiruppur market also recorded a stable trend in cotton yarn prices. Earlier, buyers came up to replenish their stocks, but they are cautious about further purchases. Traders felt that contradiction in textile value chain was not good for the industry, and buyers are adopting the wait and watch policy. 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, the upward trend continued in cotton prices. Prices strengthened further by ₹1,000-1,500 per candy of 356 kg. There were speculations that two MNCs have begun buying cotton yarn in Gujarat for ₹68,000 per candy. According to the traders, cotton prices are rising as seed cotton was gaining amid lower arrival. But demand from the downstream industry remained poor. There is disparity in prices of ginning and spinning mills. Cotton prices were noted at ₹67,000-68,000 per candy in Gujarat. Seed cotton was traded at ₹1,900-2,000 per maund of 20 kg. Total arrival was estimated at 22,000-23,000 bales of 170 kg in Gujarat mandis.