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Cotton yarn prices ease in south India due to poor demand

22/06/2022 09:35 AM

In Gujarat, cotton prices witnessed bearish trend in prices. Traders said that spinning mills are not interested in fresh buying and cotton prices slipped by ₹1,000-2,000 per candy of 356 kg since last week. Cotton was traded at ₹97,000-99,000 per candy today.
Cotton yarn prices declined by ₹2-5 per kg in south Indian markets today due to weaker demand. There is a sense of uncertainty in the entire value chain of the textile sector, and weaving, finishing and printing activities have slowed down. Producers and processors are not able to pass on the price rise and have distanced themselves from the market.

According to a trade source, demand remained weak this week. “Yarn buyers are reluctant for fresh buying as they are uncertain about demand from the weaving industry. Cotton yarn prices eased down by ₹2-3 per kg.” In Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,950-2,000 and ₹1,870-1,920 per 5 kg (GST extra) respectively. Carded cotton yarn (44/46 count) of warp variety was traded at ₹1,840-1,870 per 5 kg. 80 count carded cotton yarn of weft variety was sold at ₹1,900-1,940 per 4.5 kg. 40 count carded cotton yarn (warp) was sold at ₹352-360 per kg. 40 count combed yarn (warp) was priced at ₹407-422 per kg.

Downward trend was noted in Tiruppur market also. A local trader told “Yarn market remained under pressure due to weaker demand. There is no indication of improvement in the market.” Downstream industries are still facing weaker demand which discouraged them for buying. Higher prices of yarn are also major hurdle for buying. In Tiruppur market, cotton yarn prices witnessed downfall of ₹3-5 per kg amid poor demand. 30 count combed cotton yarn was traded at ₹392-397 per kg (GST extra), 34 count combed at ₹410-415 per kg and 40 count combed at ₹420-425 per kg. Cotton yarn of 30 count carded was sold at ₹355-360 per kg, 34 count carded at ₹365-370 per kg and 40 count carded at ₹370-375 per kg.

Source:  Fibre2Fashion

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