Mumbai’s cotton yarn market recorded higher prices amid stronger demand. Cotton yarn prices were ruling higher by ₹2-3 per kg as traders and stockists tried to take advantage of the current positive tone. A trader from Mumbai told Fibre2Fashion, “The market pipelines are expanding as buyers were taking interest in purchasing for longer times. The market was getting support from export demand as well. The recent increase in cotton prices also encouraged buyers from the downstream industry.”
South India’s cotton yarn trade sees higher demand in the first week of fiscal 2023-24, with prices increasing by ₹2-3 per kg in Mumbai, while remaining stable in Tiruppur.
Export demand, recent cotton price increases, and summer season’s regional demand contribute to market activity.
All India cotton arrival is estimated at around one lakh bales.
In Mumbai, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,525-1,540 and ₹1,400-1,450 per 5 kg (GST extra) respectively; 60 combed warp was priced at ₹342-345 per kg; 80 carded (weft) cotton yarn was sold at ₹1,440-1,480 per 4.5 kg; 44/46 count carded cotton yarn (warp) was priced at ₹282-287 per kg; 40/41 count carded cotton yarn (warp) was sold at ₹264-272 per kg; and 40/41 count combed yarn (warp) was priced at ₹294-307 per kg, according to Fibre2Fashion’s market insight tool TexPro.
Tiruppur’s market saw higher demand, but cotton yarn prices remained stable. Trade sources said that local and regional demand for hosiery cotton yarn was better due to the summer season. Higher cotton prices also improved market sentiment. However, export demand remained limited. In the Tiruppur market, 30 count combed cotton yarn was traded at ₹280-285 per kg (GST extra), 34 count combed at ₹292-297 per kg, and 40 count combed at ₹308-312 per kg. Cotton yarn of 30 count carded was sold at ₹255-260 per kg, 34 count carded at ₹265-270 per kg, and 40 count carded at ₹270-275 per kg, as per TexPro.
In Gujarat, cotton prices increased by ₹500 to ₹61,500-62,000 per candy of 356 kg from late last week. Trade sources said that the global market and domestic industry’s buying caused the rise in the natural fibre. Cotton arrival was noted at 27,000 bales of 170 kg in Gujarat. All India arrival was estimated at around one lakh bales.
Fibre2Fashion News Desk (KUL)