INSIGHTS
- Mumbai and Tiruppur’s cotton yarn markets are seeing sluggish buying and falling pricing.
- Mumbai market mills and dealers are under pressure to sell stocks, which lowers stock prices.
- The lack of demand in Tiruppur causes vendors to lower their prices.
- The cost of cotton in Gujarat was constant. Buyer interest is hampered by the cotton market’s weakness.
Due to the slowdown in purchasing, the cotton yarn market in south India is still experiencing difficulties. Mumbai and Tiruppur both saw a fall in cotton yarn prices. Several mills in Gujarat have received orders from Chinese clients, according to trade sources, although the number of orders for cotton yarn export from China is not large. Customers are interested in buying yarn, but they are looking for enticing deals and reduced costs.
The pressure on mills and brokers in Mumbai to get rid of their inventory is causing cotton yarn prices to decline. Prices per kilogramme fell by around $4 to $5. “Mills called brokers once again in an effort to locate potential purchasers. “Mills are pushing brokers to find potential buyers now, whereas normally brokers have to ask mills for their demands when they have buyers,” a merchant from Mumbai
60 count carded cotton yarn in Mumbai was sold for 1,480-1,515 and 1,340-1,380 per 5 kg, respectively (without GST). According to TexPro, a market research tool , other prices range from 345 to 350 per kg for 60 combed warp to 1,440 to 1,480 per 4.5 kg for 80 carded (weft) cotton yarn. For 44/46 count carded cotton yarn and 40/41 count carded cotton yarn and warp, respectively, from 273-278 per kg and 295 to 305 per kg.
Slow demand caused yarn prices in the Tiruppur market to decline by 2-4 per kilogramme. “Stockists and mills are under pressure to find customers. The downstream industry had relatively little demand. The only choice left for sellers is to lower prices, a dealer from Tiruppur told.
According to TexPro, 30 count combed cotton yarn costs between $272 and $276 per kg (excluding GST), 34 count combed cotton yarn costs between $285 and $290 per kg, 40 count combed cotton yarn costs between $300 and 305 per kg, and 30 count carded cotton yarn costs between $247 and $250 per kg. 40 count carded cotton yarn costs between 260 and 265 per kg.
Cotton prices in Gujarat have stayed the same despite a modest uptick in recent sessions. Gains in ICE cotton prices have encouraged purchasers to enter into fresh contracts amid an upswing. However, the natural fiber market’s deterioration puts purchasers off. During the Asian trading session, ICE cotton rose 2.18 percent to trade at $83.49 per pound. Cotton yarn was traded at a slightly higher price than the previous week, between 61,500 and 62,000 rupees each candy weighing 356 kg. Gujarat received between 24,000 and 26,000 170 kilogramme bales of cotton, with an estimated 90,000 bales arriving throughout all of India.
