Cotton yarn trade in north India remained very thin due to the continuing uncertainty in local and global markets. Though Russia and Ukraine are not major export destinations for Indian cotton yarn and textiles, exports to other destinations are likely to be disrupted due to unavailability of containers. As a result, cotton yarn prices stayed unchanged.
“The prolonged war between Russia and Ukraine is causing uneasiness in the entire value chain of textile industry. Non-availability of containers is current major problem which is causing for slower shipments. Traders and factory owners are reluctant to have deals in the time of high volatility in cotton prices,” Sanjay K Jain, managing director of TT Limited,
According to market sources from Delhi, there was no demand from downstream industry. Cash crunch and uncertainty are main cause of low confidence among market participants. Fabric manufacturers were avoiding having new deals as they were not confident about demand of fabric from garment industry. Buyers were trying to hold cash instead of creating stocks. Therefore, liquidity crunch was looming in the market. A trader from Ludhiana said that he was idle as there was no trade and there was no buyer in the market.
In Ludhiana, cotton yarn of 20 and 30 counts in combed variety were traded steady at ₹350-360 per kg and ₹365-375 per kg respectively. Carded yarn in 30 count was quoted at ₹340-350 per kg, according to Fibre2Fashion’s market insight tool TexPro.
In Delhi, cotton yarn was traded at previous levels amid thin trade. 30 count combed yarn was traded at ₹360-365 per kg, 40 count combed at ₹390-400 per kg, 30 count carded at ₹335-345 per kg and 40 count carded at ₹355-360 per kg, as per TexPro. 10 count weaving (O/E) yarn was quoted at ₹120-125 per kg, while 16 count weaving (O/E) at ₹160-165 per kg.
