Cotton yarn prices in south India did not experience significant movement, with only average demand coming from the downstream industry. However, there was a slightly higher demand for fine counts of cotton yarn, as seasonal demand improved in the south Indian market. Trade sources indicated that export demand was not very encouraging, contributing to the stability of cotton yarn prices in the Mumbai and Tiruppur markets. Nevertheless, the increased summer demand from the south Indian market offered a glimmer of hope for the cotton yarn market
In south India, cotton yarn prices remained stable, driven by average demand and increased interest in fine counts.
Mumbai and Tiruppur showed cautious optimism, despite slow exports.
Gujarat saw steady cotton prices, influenced by moderate purchasing by spinning mills and potential government procurement, amidst concerns about future cotton quality.
The Mumbai market experienced stability in cotton yarn prices. However, there was an increased demand for fine counts of cotton yarn, as the southern states of the country witnessed higher demand for Dhoti, Lungi, and other cotton garments. A trader from Mumbai, speaking to Fibre2Fashion, stated, “Although cotton yarn prices did not rise due to average demand from the downstream industry, the south Indian market shows good demand for cotton yarn of 60 counts and above.
In Mumbai, 60 carded yarn of warp and weft varieties was sold at ₹1,400-1,420 and ₹1,295-1,350 per 5 kg (excluding GST), respectively. Other prices include 60 combed warp at ₹318-325 per kg, 80 carded weft at ₹1,400-1,440 per 4.5 kg, 44/46 carded warp at ₹254-263 per kg, 40/41 carded warp at ₹242-248 per kg, 40/41 combed warp at ₹262-266 and 30/32 carded warp at ₹230-235 per kg, according to Fibre2Fashion’s market insight tool TexPro.
The Tiruppur market also observed improved buying of finer cotton yarn, although prices remained stable across all counts and varieties. A trader from Tiruppur, speaking to F2F, said, “The overall demand from the weaving industry was not encouraging, as export activities continued to be slow. The weaving and garment sectors were facing uncertainty due to the buyers’ tone. However, the summer demand from south Indian states brought hope to the market. An improvement in fabric demand and prices could potentially boost cotton yarn prices.”
In Tiruppur market, cotton yarn prices were noted as 30 count combed cotton yarn at ₹258-262 per kg (excluding GST), 34 count combed cotton yarn at ₹268-273 per kg, 40 count combed cotton yarn at ₹280-284 per kg, 30 count carded cotton yarn at ₹233-236 per kg, 34 count carded cotton yarn at ₹237-242 per kg and 40 count carded cotton yarn at ₹240-246 per kg, as per TexPro.
Cotton prices remained steady in Gujarat due to average purchasing by spinning mills. Prices are likely to continue this steady trend, influenced by the government’s probable procurement of unginned cotton (Kapas) and limited buying. Traders have noted that spinning mills are still grappling with a payment crisis, stemming from sluggish demand in the downstream industry. However, some mills are attempting to accumulate large stocks, concerned about the potential decline in cotton quality in the coming months.
In the Gujarat market, Shankar-6 cotton was quoted at a price range of ₹55,000 to ₹55,500 per candy of 356 kg. Southern mills were looking to purchase cotton at ₹55,800 to ₹56,000 per candy. The arrival in Gujarat was recorded at 37,000 bales, each weighing 170 kg. Across India, the estimated arrival was between 170,000 and 180,000 bales 170 kg each.
Fibre2Fashion News Desk (KUL)