South India’s cotton yarn prices remained stable today despite a fall in the prices of the natural fibre. According to trade sources, demand was not supportive, and regular but limited buying was unable to support market sentiments. Fearing losses, buyers were discouraged after cotton prices fell. Disparity and unstable market conditions are the main causes for concern for the value chain.
The Mumbai market was stable as buyers remained absent. “Handloom owners were not interested in buying as they were not sure of the demand from the garment industry. Mills want to raise the prices of yarn, but bearish market trend is not allowing the same to happen,” 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 remained steady in the Tiruppur market as well. Weaving mills reduced buying after cotton prices declined. Traders said that the recent fall in cotton prices discouraged buyers as they might have to face losses if yarn prices come down after a fall in the natural fibre. 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 came down by ?2,500-3,000 per candy of 356 kg since last week. However, the prices steadied as cotton found support at a lower level. cotton arrival improved during the last week. The arrival is estimated to be between 30,000 and 40,000 bales in Gujarat. Cotton was traded at ?66,000-66,500 per candy in Gujarat.
Fibre2Fashion News Desk (KUL)