Due to customer reluctance following a recent decrease in the prices of the natural fibre, cotton yarn prices in South India have been finding it difficult to maintain present levels. According to traders, a post-Holi labour shortage and the end of the fiscal year, in addition to sluggish demand, have all contributed to the negative market sentiment. Demand and price trends for cotton yarn are not anticipated to change very soon.
The cotton yarn market in Mumbai has observed a bearish trend, with prices being stable but no trading taking place at the present values, as dealers have reported. “Workers from North India have still not returned from their homes after Holi. Businessmen are often busy with annual accounting and settling trades because of the final two weeks of the current fiscal year 2022–2023. In the present fortnight, smooth manufacturing is not their primary priority. The market’s mood will probably stay negative through the end of this month, according to Mumbai-based trader Bharat Shah. Weak sentiment has also been observed in the Tiruppur market as purchasers have pulled back from the market following the recent drop in cotton prices. According to trade sources, the recent decrease in ICE cotton and domestic cotton was related to the US financial crisis. Cotton’s deterioration has put buyers off since they anticipate a greater decline in the near future. According to a top official of a textile company, clients were unwilling to buy even one kilogramme more of raw materials than they actually needed. urgent need. Prices are anticipated to stay low through the end of March. Cotton was sold in Gujarat for between 60,500 and 61,500 every candy weighing 356 kg. Trade sources claim that because spinners were hesitant to acquire a lot, cotton prices in Gujarat have further decreased. Prices were not supported by a decrease in cotton arrival. The daily arrival of cotton has decreased from 150,000–160,000 bales last week to approximately 115,000 170 kg bales as a result of recent rain and thunderstorms in the country’s centre and south. Gujarat’s arrival was predicted to be between 25,000 and 30,000 bales.
At Tiruppur, 30 count combed cotton yarn was sold for between 280 and 185 rupees per kilogramme (including GST), 34 count combed for between 292-297, and 40 count combed for between 308 and 312. per kilogramme. According to TexPro, 30 count carded cotton yarn sold for between 255 and 260 per kg, 34 count carded for between 265-270 per kg, and 40 count carded for between 270 and 275 per kg.