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Cotton yarn prices stable in north India amid low demand

16 May '24
4 min read
Cotton yarn prices stable in north India amid low demand
Pic: Adobe Stock

Insights

  • North India's cotton yarn prices remained steady despite slow demand due to export commitments and anticipated price increases towards the end of the arrival season.
  • Market uncertainty from upcoming elections also influenced the bearish sentiment.
  • In Panipat, recycled yarn and raw material prices were stable with no signs of increased buying in home textile.
North India's cotton yarn prices remained steady, but demand was slow. Uncertainty about export demand and the elections in the country were bearish factors for the market. However, spinning mills maintained cotton yarn prices due to their export commitments. They also expect an upward trend in cotton prices towards the end of the arrival season. As cotton arrival and availability decrease further, this is likely to support cotton yarn prices in the coming weeks. However, retail demand is unlikely to improve before July. Meanwhile, recycled yarn and raw material prices remained stable in the Panipat market, with no signs of increased buying in home textiles.

The Delhi market noticed a bearish tone in cotton yarn trade. Its prices were stable amid slow demand. According to market sources, buyers were reluctant to buy in bulk as they did not expect an improvement in demand from the garment industry. In this market, 30 count combed knitting yarn was traded at ₹260-265 (approximately $3.11-3.17) per kg (GST extra), 40 count combed at ₹280-288 (approximately $3.35-3.45) per kg, 30 count carded at ₹235-240 (approximately $2.81-2.87) per kg, and 40 count carded at ₹265-268 (approximately $3.17-3.21) per kg today.

The Ludhiana market also remained inactive amid poor demand. There was no significant movement in cotton yarn prices. A trader from this market told Fibre2Fashion, "Market sentiments remained weak. But spinning mills were not interested in selling their production at lower prices. They are still busy fulfilling their export commitments. The end of the cotton arrival season was also a positive factor for the market.”

In Ludhiana, 30 count cotton combed yarn was sold at ₹262-272 (approximately $3.18-3.30) per kg (inclusive of GST); 20 and 25 count combed yarn were traded at ₹252-262 (approximately $3.06-3.18) per kg and ₹257-267 (approximately $3.12-3.24) per kg, respectively; and carded yarn of 30 count was noted at ₹242-247 (approximately $2.94-3.00) per kg today, according to trade sources.

Recycled yarn was traded at previous prices in Panipat. According to trade sources, demand is not likely to improve until the end of June 2024. Home textile products made of textured polyester yarn are more popular due to better finishing. It is a cheaper alternative yarn for home textile products.

In Panipat, 10s recycled PC yarn (Grey) was traded at ₹78-82 (approximately $0.94-0.98) per kg (GST paid). Other varieties and counts were noted at 10s recycled PC yarn (Black) at ₹53-56 (approximately $0.64-0.67) per kg, 20s recycled PC yarn (Grey) at ₹90-95 (approximately 1.08-1.14) per kg and 30s recycled PC yarn (Grey) at ₹128-132 (approximately $1.54-1.58) per kg. Cotton comber prices were noted at ₹111-114 (approximately $1.35-1.38) per kg. Recycled polyester fibre (PET bottle fibre) was noted at ₹74-77 (approximately $0.90-0.93) per kg today.

In north India, cotton prices remained stable. The natural fibre was traded at previous levels. Although MNCs were selling cotton aggressively, gains in ICE cotton supported sentiments in the domestic market. Traders said that cotton prices might see stability in the coming weeks as arrivals will decrease in all regions of the country. North India’s arrivals have reached nominal levels.

Today’s arrival was 1,400 bales of 170 kg. State-wise arrivals were noted as Haryana 1,000 bales, upper Rajasthan 200, and lower Rajasthan 200 bales. Cotton arrival was almost nil in Punjab. Cotton prices in Punjab ranged from ₹5,650 to ₹5,700 (approximately $67.67-68.27) per maund of 37.2 kg, while in Haryana, prices ranged from ₹5,600 to ₹5,700 (approximately $67.07-68.27). In upper Rajasthan, cotton was priced between ₹5,500 and ₹5,700 (approximately $65.88-68.27) per maund. Bikaner line cotton sold for ₹5,700 to ₹5,800 (approximately $68.27-69.47) per maund. In lower Rajasthan, cotton was priced at ₹54,000 to ₹56,800 (approximately $646.78-680.32) per candy of 356 kg.

Disclaimer: The prices in this article are based on market sources and hence, readers are recommended to do their own research before making any decision. The publisher and their affiliates are not liable for any inaccuracies or actions taken based on this information.

Fibre2Fashion News Desk (KUL)

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