South India cotton yarn extends gains as UK FTA boosts sentiment
The Tiruppur market witnessed a gain of &#****;*-* per kg in cotton yarn prices due to higher cotton prices and increased buying interest. The recent India-UK Free Trade Agreement (FTA) also boosted market sentiment. A trader from the Tiruppur market told Fibre*Fashion, "Textile exports from Tamil Nadu have begun immediately after the trade deal became operational. Indian textiles and garments will now enjoy zero-duty access at UK ports. Overall market sentiment is positive in the cotton yarn market. Mills are increasing net prices to recover the additional cost of production."
In Tiruppur, knitting cotton yarn prices were noted as follows: ** count combed cotton yarn at &#****;***-*** (~$*.**-*.**) per kg (excluding GST), ** count combed cotton yarn at &#****;***-*** (~$*.**-*.**) per kg, ** count combed cotton yarn at &#****;***-*** (~$*.**-*.**) per kg, ** count carded cotton yarn at &#****;***-*** (~$*.**-*.**) per kg, ** count carded cotton yarn at &#****;***-*** (~$*.**-*.**) per kg, and ** count carded cotton yarn at &#****;***-*** (~$*.**-*.**) per kg.
The Mumbai cotton yarn market strengthened further due to rising cotton prices and improved demand. Several counts and varieties of cotton yarn gained &#****;*-* per kg since last Tuesday, while a few counts remained stable. Market sources said the cotton yarn market remained bullish, primarily driven by higher cotton prices. Spinning mills are quoting higher prices to recover the additional cost of production.
In Mumbai, ** carded yarns of warp and weft varieties were traded at &#****;*,***-*,*** (~$**.**-**.**) and &#****;*,***-*,*** (~$**.**-**.**) per * kg (excluding GST), respectively. Other prices included ** combed warp at &#****;***-*** (~$*.**-*.**) per kg, ** carded weft at &#****;*,***-*,*** (~$**.**-**.**) per *.* kg, **/** carded warp at &#****;***-*** (~$*.**-*.**) per kg, **/** carded warp at &#****;***-*** (~$*.**-*.**) per kg, and **/** combed warp at &#****;***-*** (~$*.**-*.**) per kg, according to trade sources.
