Cotton yarn prices up in Mumbai; optimism persists in south India

Cotton yarn prices in the Mumbai market witnessed an increase of ₹3 per kg for 60 and 44 counts. Improved buying supported cotton yarn and other items in the textile value chain. Speaking to Fibre2Fashion, a Mumbai-based trader said, “Buying improved in central India’s cotton yarn market. Current prices are attractive, and the wedding season is most likely to boost market sentiments.” 

South India’s cotton yarn market was optimistic today as buying improves due to the ongoing wedding season. Cotton yarn prices of some counts and varieties rose in Mumbai. Tiruppur did not witness any price rise, but traders expect higher trade and better liquidity. Cotton prices were also high because of strong futures and limited arrival.

In Mumbai, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,710-1,760 and ₹1,620-1,640 per 5 kg (GST extra), respectively. 60 combed warp was priced at ₹362-367 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 ₹315-320 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 ₹318-325 per kg, according to Fibre2Fashion’s market insight tool TexPro. 

Cotton yarn prices remained steady in Tiruppur and overall demand remined weak, traders said. There is a lack of confidence with respect to future buying from the downstream industry, however, the market is optimistic due to the wedding season. “Wedding season can boost trading activities in retail market which will improve liquidity in the entire value chain,” a Tiruppur-based trader told Fibre2Fashion. 

Today, 30 count combed cotton yarn was traded at ₹300-305 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 ₹270-275 per kg, 34 count carded at ₹275-280 per kg and 40 count carded at ₹285-290 per kg, as per TexPro. 

In Gujarat, cotton was traded at ₹68,700-₹69,200 per candy of 356 kg. The prices increased by around ₹1,200 per candy since last Tuesday. Prices found support from stronger cotton futures and stagnant arrival. According to the traders, cotton arrival is likely to improve after elections end in Gujarat. MNCs and agri companies along with spinning mills are currently purchasing cotton in limited quantities. 

Fibre2Fashion News Desk (KUL)