Heavy rains in Maharashtra and central parts of the country have dented sentiments in cotton yarn trade. The demand from weaving industry has dampened because of rain related disruption in normal life and economic activities. However, Tamil Nadu’s Tiruppur market noted better demand from weaving industry. The gain seen in cotton prices in the last couple of days have failed to jack up yarn prices.
In Mumbai, cotton yarn prices remained steady amid slower demand. The market noted better buying in the beginning of this week, but it slowed down due to heavy rains. A trader from Mumbai market told Fibre2Fashion, “Normal life and economic activities were hampered in Mumbai and other areas which dented demand of cotton yarn from weaving industry. Heavy stocks in the entire value chain can contain the demand in festival season.”
Cotton yarn prices were stable in Mumbai market, where 60 carded yarn of warp and weft varieties were sold at ₹1,420-1,445 and ₹1,290-1,330 per 5 kg (excluding GST), respectively. Other prices include 60 combed warp ₹325-330 per kg, 80 carded weft ₹1,325-1,350 per 4.5 kg, 44/46 carded warp ₹254-260 per kg, 40/41 carded warp ₹242-246 per kg and 40/41 combed warp ₹270-275 per kg, according to Fibre2Fashion’s market insight tool TexPro.
In the Tiruppur market, demand was better from weaving industry. Cotton yarn trade noted higher lifting, but yarn prices were steady. A trader from Tiruppur told Fibre2Fashion, “Semi-carded yarn found support and its prices were slightly higher. But most varieties noted stable price. Higher demand from the consumer industry was clearly visible.”
Prices in the Tiruppur market were noted as: 30 count combed cotton yarn ₹255-262 per kg (excluding GST), 34 count combed cotton yarn ₹265-272 per kg, 40 count combed cotton yarn ₹275-282 per kg, 30 count carded cotton yarn ₹230-236 per kg, 34 count carded cotton yarn ₹238-245 per kg, and 40 count carded cotton yarn ₹241-246 per kg, as per TexPro.
In Gujarat, cotton prices continued to see upward trend due to stronger ICE cotton, new crop worries in central Indian states, and buying of new crop by MNCs. ICE cotton had found support from hot weather in growing regions of the US. According to traders, there were reports of resowing of cotton in some areas of Gujarat and other nearby states because the earlier sowed crop washed away due to heavy rains. Meanwhile, MNCs were keen for forward buying of new crop from northern states. Cotton prices gained ₹1,000 per candy of 356 kg in Gujarat during last couple of days. The benchmark Shankar-6 cotton was quoted between ₹57,000-57,500 per candy. Cotton arrival was well within 8,000 bales of 170 kg in Gujarat. All India arrival was estimated at 28,000-30,000 bales of 170 kg.
