Cotton yarn prices fall in south India as buyers absent

In Mumbai market, cotton yarn prices continued to feel pressure due to poor demand and stockists’ selling. The prices fell by ₹3-12 per kg as buyers remained absent. According to a trade source, “Buyers were reluctant for buying as they feared further decline in prices. Cotton has registered sharp fall which can drag yarn prices. Today, consumers are not keen to buy yarn as they are waiting for prices to bottom out.” In Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,910-1,960 and ₹1,700-1,760 per 5 kg (GST extra) respectively. Carded cotton yarn (44/46 count) of warp variety was traded at ₹1,770-1,800 per 5 kg. 80 count carded cotton yarn of weft variety was sold at ₹1,750-1,780 per 4.5 kg. 40 count carded cotton yarn (warp) was sold at ₹332-348 per kg. 40 count combed yarn (warp) was priced at ₹390-395 per kg, according to Fibre2Fashion’s market insight tool TexPro.

Cotton yarn prices eased in Tiruppur market also as demand remained weak despite lower prices. Continued downtrend in cotton price created panic in the market. Traders and stockists rushed to book profit as they fear more losses in yarn prices. A trader from Tiruppur market told Fibre2Fashion, “There was panic in the market which is discouraging buyers. Demand is not likely to improve before first week of July.” In Tiruppur market, cotton yarn prices witnessed downfall of ₹2-4 per kg in absence of buyers. 30 count combed cotton yarn was traded at ₹390-395 per kg (GST extra), 34 count combed at ₹405-410- per kg and 40 count combed at ₹415-420 per kg. Cotton yarn of 30 count carded was sold at ₹347-350 per kg, 34 count carded at ₹352-355 per kg and 40 count carded at ₹356-358 per kg, as per TexPro.

In Gujarat, cotton prices further declined due to down trend in global market and stockists’ selling pressure. According to trade sources, stockists and MNCs are selling their stock to book profits because there was speculation of further fall in the price of the natural fibre. Shankar-6 cotton spot prices came down to ₹88,000-92000 per candy of 356 kg from ₹92,000-94,000 per candy.

Fibre2Fashion News Desk (KUL)