[ad_1]
Mumbai’s market noted a weaker demand from the downstream industry, which put extra pressure on spinning mills. South Indian mills were actively looking to buy yarn in Bhiwandi and other power loom hubs of Maharashtra. “Traders and millers were trying to assess the impact on the prices. Labour shortage was also another issue for the textile sector,” a trader from Mumbai told Fibre2Fashion.
Cotton yarn prices in South India remained stable amid slow demand from downstream industries. Weaving and garment industries faced a labour shortage due to the absence of migrant workers after the Holi festival. Despite this, cotton yarn prices remained stable in Mumbai and Turuppur. In Gujarat, cotton prices held steady at ₹61,000-61,500 per candy.
In Mumbai, the 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. The 60 count combed warp was priced at ₹342-345 per kg. Meanwhile, the 80 count carded (weft) cotton yarn was sold at ₹1,440-1,480 per 4.5 kg, the 44/46 count carded cotton yarn (warp) was priced at ₹280-285 per kg, the 40/41 count carded cotton yarn (warp) was sold at ₹260-268 per kg, and the 40/41 count combed yarn (warp) was priced at ₹290-303 per kg, according to Fibre2Fashion’s market insight tool TexPro.
In the Tiruppur market, there were no indications of improvement in sentiments, and labour shortages may put pressure on the entire value chain. Despite this, cotton yarn prices remained stable, as millers were not interested in cutting prices. The 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. Meanwhile, the 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 were steady at ₹61,000-61,500 per candy of 356 kg. Trade sources said that cotton prices remained steady amid slower demand. The prices increased on Monday after a sharp decline during the previous week. Ginners have shown a loss of interest in cotton production after last week’s fall. Therefore, if cotton prices do not improve soon, ginners may go for annual closure as the season enters its final phase.
Fibre2Fashion News Desk (KUL)
[ad_2]
Source link
