Due to increased pressure from spinning mills and stockists due to the weaker demand, cotton yarn prices in north India fell by up to Rs. 5 per kilogramme. Market participants were still unsure of which markets to purchase from for home and export purposes. In the markets of Delhi and Ludhiana, cotton yarn was exchanged for less. In the Panipat market, recycled polyester fibre and cotton comber were on the decline. As demand from both local and international markets was moderate, recycled cotton yarn’s price remained stable.
Cotton yarn prices were on the decline in the Ludhiana market. Weaving sector demand was lower since it was highly uncertain whether local and export garment demand would increase. A dealer from the Ludhiana market, Gulshan Jain, stated that “Mills were facing very slow demand from both the export market and the domestic market.” consumer goods sector. Many mills were forced to take an extra day off each week in order to cut production. To cut down on yarn production and cotton consumption, they are concentrating on producing higher counts. A market analysis states that 30 count cotton combed yarn sold for between Rs. 270 and Rs. 280 per kg (GST included). Combed yarn in counts 20 and 25 was sold for between Rs. 260 and 265 per kilogramme and between Rs. 265-270 per kg, respectively. Carded yarn with a 30 count was observed to cost between Rs. 250 and 260 per kg. The market’s price of cotton yarn decreased by Rs. 5 per kilogramme.
Cotton yarn prices also showed a lower trend in the Delhi market. There was no indication that the demand from the downstream sector would improve. The Delhi market merchant said, “Millers and Cotton yarn prices had to be lowered by stockists. 30 count cotton yarn had a decrease of Rs. 5 per kg.According to a market report, “30 count combed yarn was sold for between Rs. 265-275 per kg (GST additional), 40 count combed for between Rs. 300-305 per kg, 30 count carded for between Rs. 243-250 per kg, and 40 count carded for between Rs. 280-285 per kg.
The market for recycled yarn in Panipat also saw negative sentiment. The price of cotton comber and recycled polyester fibre decreased by Rs. 2–3 per kilogramme. Trade sources claim that lower customer demand caused the price of cotton comber to decrease. Due to a decrease in the cost of virgin polyester staple fibre and its raw ingredients, the price of recycled polyester fibre also decreased. Export and very low domestic demand persisted. Grey 10s recycled PC yarn was sold for between Rs. 85 and Rs. 90 per kg (GST Extra). The price per kilogramme for 10s recycled PC yarn (black), 20s recycled PC yarn (grey), and 30s recycled PC yarn (grey) was Rs. 55–60, Rs. 95–100, and Rs. 150–155, respectively. Price ranges of Rs. 138–142 per kilogramme for crab were recorded. Recycled polyester fibre (also known as PET bottle fibre) is priced between Rs. 72 and Rs. 75 per kg. Due to little demand, 10s recycled PC yarn (black) was exchanged at a reduced price.
In the meantime, despite less demand, cotton prices stabilised in north India. Poor demand from the apparel industry, according to traders, lowered market spirits. Until the apparel industry starts to want more cotton, cotton prices are unlikely to be supported.