The Mumbai market witnessed steadiness in cotton yarn prices. Power looms are facing a labour shortage because workers from Uttar Pradesh and Bihar went to Prayagraj to attend the Maha Kumbh. A trader from the Mumbai market told Fibre2Fashion, “Cotton yarn demand is almost stable, and the prices are also steady. The labour shortage has caused slower fabric supply and limited consumption of cotton yarn. There is good demand for fabric currently.”
In Mumbai, 60-carded yarn of warp and weft varieties were traded at ₹1,440-1,480 (approximately $16.64-$17.11) and ₹1,390-1,440 per 5 kg (approximately $16.07-$16.64) (excluding GST), respectively. Other prices include 60 combed warp at ₹338-344 (approximately $3.91-$3.98) per kg, 80-carded weft at ₹1,420-1,480 (approximately $16.41-$17.11) per 4.5 kg, 44/46-carded warp at ₹262-272 (approximately $3.03-$3.14) per kg, 40/41-carded warp at ₹256-266 (approximately $2.96-$3.07) per kg, and 40/41 combed warp at ₹288-294 (approximately $3.33-$3.40) per kg, according to trade sources.
Cotton yarn was traded at the previous levels in the Tiruppur market also. Mills are offering higher discounts to attract potential buyers. They are facing pressure to sell their production at current prices. A few mills have officially reduced cotton yarn rates. According to market sources, the current demand for cotton yarn is not enough to support a price rise.
In Tiruppur, knitting cotton yarn prices were noted as follows: 30 count combed cotton yarn at ₹255-263 (approximately $2.95-3.04) per kg (excluding GST), 34 count combed cotton yarn at ₹264-271 (approximately $3.05-3.13) per kg, 40 count combed cotton yarn at ₹276-288 (approximately $3.19-3.33) per kg, 30 count carded cotton yarn at ₹235-240 (approximately $2.72-2.77) per kg, 34 count carded cotton yarn at ₹240-245 (approximately $2.77-2.83) per kg, and 40 count carded cotton yarn at ₹248-253 (approximately $2.87-2.92) per kg.
In Gujarat, cotton prices further eased by ₹300-500 per candy in the past couple of days. Slow buying from spinning mills led to a decline in cotton yarn prices. Southern mills have decreased their buying prices by ₹500 per candy. Traders said that cotton seed prices have come down. Ginning mills are left with lower margins at current seed cotton prices. The Cotton Corporation of India (CCI) also rushed to the market to sell cotton seed in large quantities.
Cotton arrival was estimated at 34,000-35,000 bales of 170 kg in Gujarat and 170,000-175,000 bales in the country. The benchmark Shankar-6 cotton was quoted between ₹53,500-53,800 (approximately $618.36-$621.83) per candy of 356 kg, while southern mills were looking to buy cotton at ₹54,500-55,000 (approximately $629.92-$635.70) per candy. Seed cotton (Kapas) was traded at around ₹7,500-7,575 (approximately $86.69-$87.55) per quintal.
Fibre2Fashion News Desk (KUL)