cotton industry | COTTON PRICE

Stable North Indian cotton yarn; confidence noted as a result of Chinese orders

Published: May 10, 2023
Author: DIGITAL MEDIA EXECUTIVE

Despite weak demand from the weaving industry, cotton yarn prices in north India remained constant. Nevertheless, the market was upbeat due to rumours of orders for cotton yarn export from China. Several spinning factories have reportedly secured orders to deliver cotton yarn to Chinese customers, according to trade sources. After the price of cotton on the ICE recently increased, these export orders were changed.

The cost of cotton yarn in the Ludhiana market stayed constant. However, because domestic and foreign demand for garments was stagnating, there was little buying from the weaving sector. “There were rumours that many spinning mills had received sizable export orders for cotton yarn from Chinese buyers,” a merchant from the Ludhiana market told . Chinese importers were prompted by the recent spike in ICE cotton prices to to redirect a portion of orders to Indian exporters, possibly supporting the domestic cotton yarn market.

Additionally stable were cotton yarn prices in the Delhi market. However, there was little demand from the weaving sector, despite the mills’ and stockists’ best attempts to bolster consumer confidence. The domestic cotton yarn consumer industry’s demand did not increase. “Spinning mills are trying to enhance market sentiment,” a trader from the Delhi market told F2F, “but demand has yet to see any significant improvement.”

TexPro reported the following prices for various counts of cotton yarn in Delhi: 30 count combed yarn traded for 270–280 per kg (without GST), 40 count combed yarn at 300–305 per kg, and 30 count carded yarn at 248–255. 40 count carded yarn costs between 280 and 285 per kilogramme.

Panipat’s recycled yarn sector was experiencing negative sentiment. Trade sources claim that the home furnishings industry is dealing with two problems. After a sharp increase in 2020, export demand has decreased to just 50%, and the sector is also experiencing a shortage of raw materials. Due to low demand, the additional production costs brought on by the scarcity of raw materials could not be passed on to merchants.

In the Panipat market, 10s recycled PC yarn (grey) traded for between 85 and 90 rupees per kg (without GST), 10s recycled PC yarn (black) for between 55 and 60 rupees per kg, 20s recycled PC yarn (grey) for between 95 and 100 rupees per kg, and 30s recycled PC yarn (grey) for between 150 and 155 rupees per kg. (170 kilogramme each) bales. Cotton was exchanged at prices ranging from 6,200 to 6,300 rupees per maund in Punjab, from 6,150 to 6,250 in Haryana, and from 6,375 to 6,475 in upper Rajasthan. The price per candy (356 kg) ranged from 59,500 to 61,500 in lower Rajasthan.

 

 

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