Foreign news on November 22, cotton yarn prices in southern India remained stable despite falling cotton prices.
According to trade sources, demand is not supportive and regular but limited purchases cannot support market sentiment. Buyers stayed away after cotton prices fell due to fear of losses. Price differentials and unstable market conditions are major reasons for concerns along the value chain.
Mumbai market held steady as buyers remained absent. A trader in Mumbai said: “Handloom owners are not interested in buying because they are not sure about the demand in the garment industry. Spinners hope to increase yarn prices, but the negative market trend does not allow this to happen.”
In Mumbai, the price of 60-count woolen yarn is 1720-1770 rupees per 5 kg, 60-count combed cotton yarn is 360-365 rupees per kilogram, 80-count woolen yarn is 1540-1580 rupees per 4.5 kg, 44/46 thick Spun yarn is priced at 318-323 rupees per kilogram, 40/41 count woolen yarn is 305-310 rupees per kilogram, 40/41 count combed cotton yarn is 325-330 rupees per kilogram.
Cotton yarn prices in Tiruppur market also remained stable. After cotton prices fell, textile mills reduced their purchases. Traders said the recent fall in cotton prices has discouraged buyers as they may face losses if yarn prices fall following the fall in cotton prices.
In the Tiruppur market, the price of 30-count combed cotton yarn is 305-310 rupees per kilogram, 34-count combed cotton yarn is 315-320 rupees per kilogram, 40-count combed cotton yarn is 320-325 rupees per kilogram, 30 Count cotton yarn is priced at 275-280 rupees per kilogram, 34-count cotton yarn is 282-285 rupees per kilogram, and 40-count cotton yarn is 292-295 rupees per kilogram.
In Gujarat, cotton prices have fallen by Rs 2,500-3,000 per 356 kg since last week. However, prices stabilized as cotton found support at lower levels. Cotton arrival conditions improved last week. It is estimated that 30,000-40,000 bales of goods have arrived in Gujarat. In Gujarat, cotton is traded at Rs 66,000-66,500 per 356 kg.
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