Cotton yarn buyers cautious in south India, prices down in Mumbai

Mumbai witnessed a downward trend as cotton yarn prices eased by ₹7-12 per kg. “Spinning mills had increased the prices of yarn which discouraged buyers. Buyers were more sensitive towards the pricing because they were struggling to protect their margins,” a trader from Mumbai told Fibre2Fashion. Traders expect overall market sentiment to improve but buyers are cautious about making new deals. 

Buyers in the south Indian cotton yarn market have become price sensitive. Mumbai market noticed a decline in cotton yarn prices today after the demand weakened due to higher prices. Buyers were discouraged as mills increased the prices of yarn. Tiruppur noted a steady trend in cotton yarn prices. Demand was slightly better even as buyers were cautious.

In Mumbai, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,520-1,550 and ₹1,425-1,475 per 5 kg (GST extra) respectively. 60 count combed warp was priced at ₹340-345 per kg. 80 count carded (weft) cotton yarn was sold at ₹1,450-1,470 per 4.5 kg. 44/46 count carded cotton yarn (warp) was priced at ₹282-287 per kg. 40/41 count carded cotton yarn (warp) was sold at ₹270-275 per kg and 40/41 count combed yarn (warp) was priced at ₹290-292 per kg, according to Fibre2Fashion’s market insight tool TexPro. 

Tiruppur market witnessed a higher volume of trade in cotton yarn. However, the prices remained stable at previous levels. Traders said that mills and traders were receiving trade enquiries from buyers. Improved buying was noted in combed as well as carded yarn. There was optimism about continuation of improved buying in the market. 

Today, 30 count combed cotton yarn was traded at ₹285-290 per kg (GST extra), 34 count combed at ₹300-305 per kg and 40 count combed at ₹310-315 per kg in the Tiruppur market. Cotton yarn of 30 count carded was sold at ₹255-260 per kg, 34 count carded at ₹265-270 per kg and 40 count carded at ₹270-275 per kg, as per TexPro. 

In Gujarat, cotton was traded at ₹63,000-63,500 per candy of 356 kg, increasing by ₹1,000-1,500 per candy in the last couple of days. According to the traders, seed cotton (narma) price increased again, therefore ginners faced disparity again. They increased the cotton prices to pass on the higher cost of production. Limited arrival and higher demand from mills supported cotton prices. Narma price increased to ₹1,750-1,825 per 20 kg. 

Fibre2Fashion News Desk (KUL)