Cotton prices in Tiruppur drop due to weak demand

Tiruppur, May 13 (KNN) South India’s cotton yarn market is experiencing weak demand from the weaving industry which has led to the fall in cotton yarn prices in the Tiruppur market by Rs 2-5 per kg. 

According to a report by Fibre2Fashion, contrary to the South. prices remained stable in the Mumbai market. 

As per its trade sources serious challenges throughout the textile value chain have been reported including slower demand, frequent discounts, tough negotiations, payment crises, and a growing stockpile. 

Among traders the feeling of uncertainty about future demand remains prevalent.

In Tiruppur, the dip in cotton yarn prices ranged from Rs 3-5 per kg. 

Pressure is building on mills and stockists to slash prices, with mills either reducing cotton yarn prices or offering higher discounts to attract buyers. 

“The entire textile value chain is under exceptional stress due to limited buying. Global brands are reluctant to place large orders due to a lack of confidence in demand, particularly in Europe and the United States. The weaving and spinning industries are also feeling the heat of the slowed export demand,” a trader from Tiruppur told Fibre2Fashion.   (KNN Bureau)