INDIAN COTTON YARN MARKET UPDATE
Cotton yarn prices in south India likely to rise next week
The cotton yarn demand in south India remained bearish as hundreds of small and medium units have scaled down their production due to the Pongal festival season. Few varieties of cotton yarn were traded at slightly lower price, but other varieties were sold at previous prices in Tiruppur market. Traders expect prices to pick up after festivities next week.
In Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded steady at ₹1,910-1,990 per 5 kg and ₹1,690-1,740 per 5 kg respectively. 80 count carded cotton yarn of weft variety was sold at ₹1,890-1,940 per 5 kg, while carded cotton yarn (46 count) of weft variety was sold at ₹1,730-1,760 per 5 kg. In Ahmedabad-Rajkot region, cotton compact hosiery grey yarn 30/1 was quoted at ₹357 per kg and 30/1 weaving yarn at ₹365 per kg.
In Tiruppur market, cotton yarn prices remained steady despite poor demand. Cotton yarn of 30 count combed was traded in Tiruppur at ₹350-360 per kg, 34 count combed at ₹360-365 per kg, and 40 count combed at ₹390-395 per kg. Cotton yarn of 30 count carded was sold at ₹320-325 per kg, 34 count carded at ₹325-330 per kg, and 40 count carded at ₹345-350 per kg, according to tool TexPro. Prices of cotton yarn of 30 count carded and 40 count carded declined by ₹5 per kg due to poor demand.
In Tiruppur, workers have gone on holiday to celebrate Pongal and other regional festivals. “They will come back after one week. So, production activities will pick up next week in Tiruppur, Coimbatore and other textile hubs,” a Tiruppur-based trader told. “Cotton yarn price rise is inevitable when buyers come back to the markets. They have to buy yarn at any cost as they have to fulfil summer clothing demand.”
A trader from Ahmedabad, Narayan Lakhotia told that cotton yarn prices remained steady as demand was very weak. “But the scenario will change at the end of this month. Fabric manufacturers will have to buy yarn at higher prices to meet demand from downstream industry. Demand for summer clothing will be good, so the prices are expected to rise for the entire value chain of textile industry.”
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