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Cotton yarn prices crash in Tiruppur; Buyers absent in South India

05 Jul '22
3 min read
Pic: 123rf.com
Pic: 123rf.com

The prices of cotton yarn crashed in Tiruppur due to absence of buying activities. Stockists and traders were forced to reduce yarn prices by ₹8-13 per kg. Mumbai yarn market also noted a fall of ₹3-4 per kg. According to traders, the entire south Indian yarn market saw bearish trend due absence of buyers. Heavy rains in Maharashtra was another reason.

In Mumbai market, cotton yarn prices remained under pressure due to poor demand and selling by stockists. The prices fell by ₹3-4 per kg today as buyers remained absent. A Maharashtra based businessman told Fibre2Fashion, “Already depressed buying further decreased because of rains. Buyers were trying to avoid fresh buying due to lower demand from garment units and weather conditions. Yarn prices decreased further.”

Decline in cotton prices also encouraged mills and stockists to reduce yarn prices. In Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,870-1,920 and ₹1,675-1,725 per 5 kg (GST extra) respectively. Carded cotton yarn (44/46 count) of warp variety was traded at ₹1,750-1,780 per 5 kg. 80 count carded cotton yarn of weft variety was sold at ₹1,710-1,740 per 4.5 kg. 40 count carded cotton yarn (warp) was sold at ₹325-342 per kg. 40 count combed yarn (warp) was priced at ₹380-385 per kg, according to Fibre2Fashion’s market insight tool TexPro.

Cotton yarn prices witnessed steep fall in Tiruppur market as demand was very weak. Mills and stockists were trying to sell their stock before further fall. Continued downtrend in cotton prices also led to decrease yarn prices. A trader from Tiruppur market told Fibre2Fashion, “Demand remained very week. Mills were forced to sell their stocks at losses.” It is learnt that last week’s price cut of ₹40 per kg also created panic in the market despite the fact that the price cut was just adjustment of previously provided discounts by spinning mills. In Tiruppur market, cotton yarn prices crashed by ₹8-13 per kg in absence of buying. 30 count combed cotton yarn was traded at ₹375-380 per kg (GST extra), 34 count combed at ₹385-390 per kg and 40 count combed at ₹395-400 per kg. Cotton yarn of 30 count carded was sold at ₹335-337 per kg, 34 count carded at ₹340-342 per kg and 40 count carded at ₹347-350 per kg, as per TexPro.

In Gujarat, cotton prices were feeling pressure due to poor demand and down trend in global market. Stockists were trying to clear their stocks. According to trade sources, buyers were still silent even after decrease in prices. Stockists and MNCs expect weaker demand from spinning mills. Spinning mills were reluctant for fresh buying. Shankar-6 cotton spot prices came down to ₹80,000-90,000 per candy of 356 kg.

Fibre2Fashion News Desk (KUL)

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