With the Holi festival round the corner, domestic demand for cotton yarn has come down in South India. As a result, cotton yarn prices in Tiruppur have taken a stable trend. Actually, apart from the coming of the festival, the holiday of the workers in the factories has also been a major reason for this. According to traders, the absence of laborers and the financial closure slowed down production activities in March. Domestic demand was weak as compared to export demand, but prices held steady at Mumbai and Tiruppur.
In Mumbai, the market experienced weak demand from the downstream industry. However, export buying turned marginally better and cotton yarn prices held steady. Jai Kishan, a Mumbai-based trader, said, "Workers were going on leave for the Holi festival, and the financial closure in March also curtailed production activities. Hence, local demand was slow. However, there was no drop in prices." I."
In Mumbai, cotton yarn of 60 count of warp and weft varieties traded at Rs 1,525-1,540 and Rs 1,450-1,490 per 5 kg (GST extra), respectively. Cotton yarn of 80 cards (weft) was priced at Rs 1,440-1,480 per 4.5 kg. The price of 44/46 count carded cotton yarn (warp) was ruling at Rs 280-285 per kg. 40/41 count carded cotton yarn (warp) was trading at Rs 260-268 per kg and 40/41 count combed yarn (warp) was trading at Rs 290-303 per kg.
Meanwhile, prices remained stable in Tirupur market as well. Trade sources said demand was moderate, which may support the current price level. Mills located in Tamil Nadu were running at 70-80 per cent production capacity. The market may get support next month when the industry renews its production in the next financial year. In the Tiruppur market, 30 count combed cotton yarn was trading at ₹280-285 per kg (GST extra), 34 count combed at ₹292-297 per kg and 40 count combed cotton yarn at ₹308-312 per kg.
In Gujarat, cotton prices declined again after a marginal gain in the previous session. Trade sources said spinners were buying cotton, but they were cautious about prices. The mills were trying to grab cheap deals. Cotton arrivals in India were estimated to be around 1.58 lakh bales (170 kg) per day, while 37,000 bales were recorded in the Gujarat market. The prices were hovering between Rs 62,500 to Rs 63,000 per candy of 356 kg.
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