Cotton yarn gains up to ₹8/kg in South India on better demand

Tiruppur market noted uptrend in cotton carded yarn prices. Traders said that demand was slightly better for carded yarn. The prices gained by ₹2-5 per kg in south India’s major yarn market. A trader told Fibre2Fashion, “Current movement of the market indicates strong demand after mid-August. Cotton yarn prices are expected to rise on higher demand in second half of this month.” Today, 30 count combed cotton yarn was traded at ₹350-355 per kg (GST extra), 34 count combed at ₹362-367 per kg and 40 count combed at ₹365-370 per kg in Tiruppur market. Cotton yarn of 30 count carded was sold at ₹315-320 per kg, 34 count carded at ₹322-327 per kg and 40 count carded at ₹330-335 per kg, according to Fibre2Fashion’s market insight tool TexPro.

Mumbai market noted steady trend in prices, but the prices gained in last days of previous week. Traders said that buying was slightly better, so prices gained by ₹5-8 per kg in last week. But demand was not supportive today and yesterday at higher prices. A broker said that buyers were facing cash crunch as demand in fabric is yet to pick up. 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,900-1,950 and ₹1,800-1,850 per 5 kg (GST extra) respectively. 80 carded (weft) cotton yarn was sold at ₹1,760-1,780 per 4.5 kg. 44/46 count carded cotton yarn (warp) was priced at ₹365-375 per kg. 40/41 count carded cotton yarn (warp) was sold at ₹340-345 per kg. 40/41 count combed yarn (warp) was priced at ₹410-440 per kg, as per TexPro.

Cotton yarn prices gained in south Indian markets today as buyers were keen for fresh buying. The prices went up by ₹2-5 per kg in Tiruppur since last week, and by ₹5-8 per kg in Mumbai. Traders said that the prices increased last week due to better buying, but they steadied in this week. Traders expect further improvement in second half of this month.#

In Gujarat, cotton prices continued to see upward trend due to negligible arrival in the mandis. According to traders, prices are gaining despite limited buying because of nominal availability of cotton. Cotton prices increased by ₹1,000-1,500 per candy of 356 kg since last week. Cotton was traded at ₹88,000-95,000 per candy in spot market of Gujarat.

Fibre2Fashion News Desk (KUL)