The reduced demand from the downstream industry is still exerting pressure on the cotton market in North India. Mumbai and Ludhiana, two important cotton yarn markets, have reported a gradual lowering of prices. Next month, traders anticipate an uptick in demand. Panipat, India’s main centre for home furnishings, has weak sentiments as well. A key issue is the downturn in export demand, which has dropped to about 60% from the same time last year.
Similar to this, cotton yarn prices in Delhi have been gradually declining since the beginning of the month due to low demand in the final week of March. “Cotton yarn prices declined progressively as demand remained weak,” a dealer from Delhi told F2F. TexPro reports that 30 count yarn was sold for between 275 and 280 per kilogramme (without GST), 40 count yarn cost between 305 and 310 per kg, 30 count yarn cost between 255 and 260 per kg, and 40 count yarn cost between 285-290 per kg.
Despite a decreased demand, prices on the Panipat recycled yarn market have remained stable. “Weak export market demand is to blame for the current low sentiments. Home furnishings export demand from Panipat decreased by 60% over the previous year. According to Peetam S. Sachdeva, a well-known operator in the recycled yarn industry, just 40% of export demand was insufficient to sustain the market.
The price of 10s recycled PC yarn (grey) in Panipat ranged from 88 to 92 rupees per kilogramme (including GST); 10s recycled PC yarn (black) 60-65 per kilogramme; 100-105 per kg for 20s recycled PC yarn (grey); and 150-155 per kg for 30s recycled PC yarn (grey). Prices for recycled polyester fibre (PET bottle fibre) were observed at 73-75 cents per kg, while those for comber were noted at 140-142 cents per kg.
Due to a price drop in ICE cotton and weak demand from spinners in the final days of the current fiscal year, the price of cotton in North India has decreased by 80 to 100 rupees per maund of 37.2 kg. Due to March’s market closure, buyers have been scarce, which has caused spot prices for cotton to fall. With only 10,000 170 kilogramme bales reported, cotton arrival in North India is likewise on the lower side. Arrival is probably as the season draws to a close, to contract even further. Punjab and Haryana traded cotton for between $6,00 and $7,00 per maund, higher Rajasthan for between $6,200 and $6,300 per maund, and lower Rajasthan for between $57,500 and $59,500 per candy of 356 kg.
