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Cotton yarn prices in Mumbai fell by ₹3-5 per kg following a decline in the cost of cotton fibre. The weaving industry's lacklustre demand further exacerbated the market's concerns. Fabric prices also decreased, reflecting a sluggish sentiment across the entire textile value chain. A trader from the Mumbai market told Fibre2Fashion, "There was a sense of panic in the market as traders were unsure how to cope with the situation. Prices are falling because no one wants to buy cotton in the current scenario."
In Mumbai, cotton yarn was traded lower by ₹3-5 per kg. The 60 count carded cotton yarn of warp and weft varieties was sold at ₹1,460-1,490 and ₹1,320-1,360 per 5 kg (excluding GST), respectively. Other prices include 60 combed warp at ₹340-345 per kg, 80 carded (weft) cotton yarn at ₹1,410-1,450 per 4.5 kg, 44/46 count carded cotton yarn (warp) at ₹268-22 per kg, 40/41 count carded cotton yarn (warp) at ₹252-262 per kg and 40/41 count combed yarn (warp) at ₹275-280 per kg, according to Fibre2Fashion's market insight tool TexPro.
In the Tiruppur market, cotton yarn prices have remained steady, but there could be a further downward adjustment due to cheaper cotton and the weaving industry's sluggish demand. The recent decline in cotton prices has provided some relief to spinners, allowing them to minimise their losses and potentially reach their breakeven point. A trader from Tiruppur told F2F, "Traders did not reduce prices over the last couple of days as they sought to maintain their margins. However, cheaper cotton may lead to a decline in yarn prices. Buyers still show reluctance towards new purchases."
Prices in the Tiruppur market were noted as 30 count combed cotton yarn at ₹266-272 per kg (excluding GST), 34 count combed cotton yarn at ₹277-283 per kg, 40 count combed cotton yarn at ₹287-294 per kg, 30 count carded cotton yarn at ₹242-246 per kg, 34 count carded cotton yarn at ₹249-254 per kg and 40 count carded cotton yarn at ₹253-260 per kg, as per TexPro.
In Gujarat, cotton prices have seen a sharp drop due to weak sentiments in the global market and low demand from spinning mills. The natural fibre has experienced a decline of ₹1,000-1,500 per candy (356 kg) over the last few days. According to trade sources, while prices may continue to ease, a significant drop is not anticipated. Spinning mills might be encouraged to purchase if prices continue to fall. Cotton was trading at ₹56,000-56,500 per candy of 356 kg. Cotton arrivals in Gujarat were estimated at 20,000-22,000 bales of 170 kg, while all India arrivals were projected to be around 80,000-90,000 bales of 170 kg.
Fibre2Fashion News Desk (KUL)