South India’s cotton yarn prices witnessed a mixed trend today. Prices of various varieties and counts increased in Mumbai but remained steady in Tiruppur. Traders said that the demand improved in the last week as costlier cotton encouraged buyers. However, they were not ready to pay any price. Next few weeks will be crucial for a steady market.
The Mumbai market witnessed a price rise of ₹5-10 per kg for most of the counts and varieties of cotton yarn. “Buyers were interested but they were looking for purchases as the last option. Aggressive buying was still not to be seen,” Jai Kishan, a trader from Mumbai, told Fibre2Fashion. Cotton yarn prices increased but buyers began to rethink their decision to purchase.
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.According to Fibre2Fashion’s market insight tool TexPro, 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. 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.
In the Tiruppur market, cotton yarn prices remained stable, but demand improved after an increase in cotton prices. Traders said that if the demand remains strong, cotton yarn prices may increase next week. The price rise in other regions may also support yarn prices in south India. According to the traders, smaller spinning mills were desperate to sell their stock which did not let yarn prices increase.
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 strengthened by ₹1,500-2,000 per candy of 356 kg. Lower supply from farmers and improved buying from spinners pushed up cotton prices. Cotton prices were at ₹66,000-67,000 per candy in Gujarat. Seed cotton was traded at ₹1,900-2,000 per maund of 20 kg. Total arrival was estimated at 22,000-25,000 bales of 170 kg each in Gujarat mandis.
Source: Fibre2Fashion
