South India’s Mumbai cotton yarn market noted a decline of ₹10-15 per kg today as buyers are hesitant about new deals and waiting for new arrival, while prices remained stable in Tiruppur as demand was weak. Rainy weather has become an important factor for the market. Activities were witnessed in cotton yarn exports, but deals were fewer due to pricing issues. 

Prices in the Mumbai market witnessed a downward trend due to a weak demand as exporters and local buyers were cautious. Traders said that buyers were adopting the wait and watch policy. They want to buy cotton yarn and fabric but at lower prices. 

South India’s Mumbai cotton yarn market noted a decline of ₹10-15 per kg as buyers are hesitant about new deals and waiting for new arrival, while prices remained stable in Tiruppur as demand was weak. Rainy weather has become an important factor for the market. Activities were witnessed in cotton yarn exports, but deals were fewer due to pricing issues.

“Current prices are unable to attract buyers. The new season can help lower the prices of cotton, but rains might delay new arrival. Presently, cotton prices are bearish. If the rains stop, the natural fibre’s prices may get support, which in turn will cause cotton yarn’s and fabric’s prices to also go up,” a trader from Mumbai market told Fibre2Fashion.

60 count carded cotton yarn of warp and weft varieties were traded at ₹1,800-1,820 and ₹1,720-1,760 per 5 kg (GST extra) respectively. 60 combed warp was priced at ₹410-430 per kg. 80 carded (weft) cotton yarn was sold at ₹1,780-1,740 per 4.5 kg. 44/46 count carded cotton yarn (warp) was priced at ₹340-345 per kg. 40/41 count carded cotton yarn (warp) was sold at ₹335-340 per kg and 40/41 count combed yarn (warp) was priced at ₹375-380 per kg, according to Fibre2Fashion’s market insight tool TexPro. 

In the Tiruppur market, cotton yarn prices remained stable after declining at the beginning of this week. Traders said that if the cotton crop is delayed in Maharashtra and Gujarat, the entire value chain may find support. Stockists, traders and millers were not willing to sell cotton yarn at lower prices. A trader from Tiruppur told Fibre2Fashion, “Merchant exporters were keen to buy October delivery cotton yarn. They want to buy 30 count combed cotton yarn at ₹338-340 per kg. But sellers did not agree to sell at this rate. Yarn market is closely watching the present rainy conditions. The prices may not go down, at least for now.” 

Trade sources also said that merchant exporters are buying 30 combed cotton yarn at ₹345-348 per kg. It may be available on Indian ports at FOB price of $4.35-4.40 per kg. Today, 30 count combed cotton yarn was traded at ₹348-352 per kg (GST extra), 34 count combed at ₹360-365 per kg and 40 count combed at ₹365-370 per kg in Tiruppur market. Cotton yarn of 30 count carded was sold at ₹325-330 per kg, 34 count carded at ₹332-335 per kg and 40 count carded at ₹337-342 per kg, as per TexPro. 

In Gujarat, cotton prices declined by ₹2,000-3,000 per candy of 356 kg. However, rainy climate continued in the state. Madhya Pradesh and Maharashtra also recorded heavy or moderate rainfall which may delay the cotton crop. Shankar-6 cotton was traded at ₹82,000-90,000 per candy in the spot market of Gujarat. 

Fibre2Fashion News Desk (KUL)