Mumbai market witnessed a decrease of ₹2-8 per kg for some counts and varieties of cotton yarn. Demand from domestic as well as from export markets remained weak. A trader from Mumbai told Fibre2Fashion, “There is some buying activity for export orders. But these orders were not very attractive for suppliers and millers.” Gujarat based spinning mills have reduced their selling prices for carded yarn.
Cotton yarn prices slipped by ₹2-8 per kg in Mumbai and Tiruppur today as demand was weak. Traders feel that the entire textile value chain is waiting for prices to ease during the cotton arrival season. Market pipeline shrunk as consumer industry is purchasing raw materials in lesser quantity. Current situation is expected to continue in the near future.
In Mumbai, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,690-1,740 and ₹1,600-1,620 per 5 kg (GST extra) respectively. 60 combed warp was priced at ₹360-365 per kg. 80 carded (weft) cotton yarn was sold at ₹1,570-1,630 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 ₹287-292 per kg and 40/41 count combed yarn (warp) was priced at ₹305-310 per kg, according to Fibre2Fashion’s market insight tool TexPro.
Tiruppur also witnessed weaker demand which led to a decline in cotton yarn prices. The prices came down by ₹2-7 per kg as mills and traders were feeling the pressure to clear their stocks. Traders said that buyers were cautious in every industry of the textile value chain. Nobody is willing to take any risks. Current situation is not likely to end anytime soon. Today, 30 count combed cotton yarn was traded at ₹295-300 per kg (GST extra), 34 count combed at ₹310-315 per kg and 40 count combed at ₹320-325 per kg in the Tiruppur market. Cotton yarn of 30 count carded was sold at ₹268-272 per kg, 34 count carded at ₹275-280 per kg and 40 count carded at ₹282-285 per kg, as per TexPro.
In Gujarat, cotton was traded at ₹66,000-66,500 per candy of 356 kg. The prices decreased by around ₹7,000 per candy since last Tuesday. Ginners are saying that farmers were not inclined to increase arrival and decrease the prices. They are facing losses in the current seed cotton (kapas) prices. According to the traders, arrival is not likely to improve in December. Spinners, ginners and other downstream industry are looking for prices to fall.
Fibre2Fashion News Desk (KUL)