South India’s cotton yarn prices witnessed a mixed trend today. Prices of various varieties and counts increased in Mumbai but remained steady in Tiruppur. Traders said that the demand improved in the last week as costlier cotton encouraged buyers. However, they were not ready to pay any price. Next few weeks will be crucial for a steady market.
The Mumbai market witnessed a price rise of Rs. 5-10 per kg for most of the counts and varieties of cotton yarn. “Buyers were interested but they were looking for purchases as the last option. Aggressive buying was still not to be seen,” Jai Kishan, a trader from Mumbai, told. Cotton yarn prices increased but buyers began to rethink their decision to purchase.
In Mumbai, 60 count carded cotton yarn of warp and weft varieties were traded at Rs. 1,670-1,720 and Rs. 1,600-1,620 per 5 kg (GST extra), respectively. According to market report, 60 combed warps were priced at Rs. 355-360 per kg. 80 carded (weft) cotton yarn was sold at Rs. 1,500-1,540 per 4.5 kg. 44/46 count carded cotton yarn (warp) was priced at Rs. 310-315 per kg. 40/41 count carded cotton yarn (warp) was sold at Rs. 300-305 per kg and 40/41 count combed yarn (warp) was priced at Rs. 320-325 per kg.
In the Tiruppur market, cotton yarn prices remained stable, but demand improved after an increase in cotton prices. Traders said that if the demand remains strong, cotton yarn prices may increase next week. The price rise in other regions may also support yarn prices in south India. According to the traders, smaller spinning mills were desperate to sell their stock which did not let yarn prices increase.
Today, 30 count combed cotton yarn was traded at Rs. 305-310 per kg (GST extra), 34 count combed at Rs. 315-320 per kg and 40 count combed at Rs. 320-325 per kg in the Tiruppur market. Cotton yarn of 30 count carded was sold at Rs. 275-280 per kg, 34 count carded at Rs. 282-285 per kg and 40 count carded at Rs. 292-295 per kg, as per report.
In Gujarat, cotton prices strengthened by Rs. 1,500-2,000 per candy of 356 kg. Lower supply from farmers and improved buying from spinners pushed up cotton prices. Cotton prices were at Rs. 66,000-67,000 per candy in Gujarat. Seed cotton was traded at Rs. 1,900-2,000 per maund of 20 kg. Total arrival was estimated at 22,000-25,000 bales of 170 kg each in Gujarat mandis.
South India’s cotton yarn prices witnessed a mixed trend today. Prices of various varieties and counts increased in Mumbai but remained steady in Tiruppur. Traders said that the demand improved in the last week as costlier cotton encouraged buyers. However, they were not ready to pay any price. Next few weeks will be crucial for a steady market.
