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The cotton yarn market in Mumbai continues to face financial constraints and slower demand. Most varieties and counts of cotton yarn remained stable, but 60 carded weft yarn has decreased by ₹20-25 per 5 kg. "Buyers were not interested in purchasing new consignments as they wanted to maintain a hand-to-mouth approach. The financial crunch is the main cause of poor buying, as buyers do not have the money to buy more yarn because the money did not come back from the downstream industry. The payment condition may improve in the first half of next month if market conditions remain stable, as payments will come back on a certain cycle,” Bharat Shah, a trader from Mumbai, told Fibre2Fashion.
In Mumbai, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,550-1,580 and ₹1,410-1,440 per 5 kg (GST extra) respectively. The 60 combed warp was priced at ₹350-353 per kg; 80 carded (weft) cotton yarn was sold at ₹1,460-1,500 per 4.5 kg; 44/46 count carded cotton yarn (warp) was priced at ₹280-285 per kg; 40/41 count carded cotton yarn (warp) was sold at ₹272-276 per kg and 40/41 count combed yarn (warp) was priced at ₹294-307 per kg, according to Fibre2Fashion’s market insight tool TexPro.
Prices in the Tiruppur market remained stable due to average demand, with no likely improvement in demand for the current month. However, Tiruppur and other textile hubs in south India have started the production of winter garments in anticipation of new export orders. “It is normal to begin production in advance for new export orders. However, garment manufacturers are not sure about the size of orders, so they are producing in limited quantities,” a trader from Tiruppur market told F2F.
In the Tiruppur market, 30 count combed cotton yarn was traded at ₹278-282 per kg (excluding GST), 34 count combed at ₹288-292 per kg, and 40 count combed at ₹305-310 per kg. According to TexPro, 30 count carded cotton yarn was sold at ₹250-255 per kg, 34 count carded at ₹255-260 per kg, and 40 count carded at ₹265-270 per kg.
Cotton prices in Gujarat have taken a bearish turn due to weaker demand from spinning mills. Following a drop in ICE cotton prices, cotton yarn prices have decreased by ₹400-500 per candy of 356 kg and were quoted at ₹62,000-62,400 per candy. Cotton arrival in Gujarat was estimated at 30,000-32,000 bales of 170 kg, while the all-India arrival was estimated at around 1.15 lakh bales.
Fibre2Fashion News Desk (KUL)