North India’s cotton yarn market bearish, prices down in Ludhiana

Ludhiana market witnessed a drop of ₹5 per kg in cotton yarn prices. “Buyers were not keen to buy at current prices. The downstream industry was still uncertain. Payment conditions were also tight which further hampered buying,” a trader from Ludhiana market told Fashion2Fashion. 

North India’s cotton yarn market witnessed a bearish trend today due to poor demand. Cotton yarn prices were down by ₹5 per kg in Ludhiana as demand was sluggish from the consumer industry. But the prices were steady in Delhi. Traders said that the demand is poor because the garment industry is still reeling under reduced buying from consumers.

In Ludhiana, 30 count cotton combed yarn was sold at ₹277-287 per kg (GST inclusive); 20 and 25 count combed yarn were traded at ₹267-277 per kg and ₹272-282 per kg respectively; and carded yarn of 30 count was steady at ₹257-267 per kg, according to Fibre2Fashion’s market insight tool TexPro. 

In Delhi, cotton yarn prices remained stable and trading volume was also limited. A trader from Delhi market said that demand from the downstream industry once again softened. Cotton yarn was unable to receive confident buying from the consumer industry. In the market, 30 count combed yarn was traded at ₹280-285 per kg (GST extra), 40 count combed at ₹305-310 per kg, 30 count carded at ₹255-260 per kg and 40 count carded at ₹280-285 per kg. 

Panipat’s recycled yarn market also noticed noted weak buying. Traders said that negligible export orders caused buying from manufacturing units to decline. Few counts of recycled yarn slipped by ₹2-5 per kg. But comber and recycled polyester fibre remained steady. 

Today, 10s recycled yarn (white) was traded at ₹88-90 per kg (GST extra), 10s recycled yarn (coloured – high quality) at ₹105-110 per kg, 10s recycled yarn (coloured – low quality) at ₹80-85 per kg, 20s recycled PC coloured (high quality) at ₹110-115 per kg, and 30 recycled PC coloured (high quality) at ₹145-150 per kg. 10s optical yarn was priced at ₹100-110 per kg in the market and comber prices were noted at ₹150-155 per kg. Recycled polyester fibre (PET bottle fibre) was at ₹80-82 per kg, as per TexPro. 

North India’s cotton prices were steady despite lower production estimates. Cotton Association of India reduced production estimate by 9.25 lakh bales of 170 kg each to 330.50 lakh for the current marketing season 2022-23. According to local traders, demand remained weak from spinners, which did not support the price rise on account of lower production. Prices are unlikely to rise because of lower consumption due to price disparity. Cotton was traded at ₹6,250-6,375 in Punjab, ₹6,200-6,350 in Haryana and ₹6,400-6,500 per maund in upper Rajasthan; and at ₹60,500-62,000 per candy of 356 kg in lower Rajasthan. Cotton arrival was noted at 14,000 bales of 170 kg in north India. 

Fibre2Fashion News Desk (KUL)