Cotton yarn prices inch up in Tiruppur due to export demand

In Tiruppur market, while there was demand for export, the price rise was limited as north India’s demand did not support market sentiments. A veteran businessman from Tiruppur, Purushottam Gupta told Fibre2Fashion that southern demand is yet to begin but the market is getting support from exporters demand.

Cotton yarn of 30 count combed was traded in Tiruppur at ₹370-375 per kg, 34 count combed at ₹375-385 per kg and 40 count combed at ₹390-400 per kg. Cotton yarn of 30 count carded was sold at ₹320-330 per kg, 34 count carded at ₹335-345 per kg and 40 count carded at ₹350-360 per kg, according to Fibre2Fashion’s market analysis tool TexPro. 30 count and 34 count combed and carded varieties of yarn, which are used in making t-shirts, gained ₹3-7 per kg. Summer is main season for t-shirt sale.

On the other hand, traders from Mumbai said north India’s cold wave has dampened demand in the local market. North India is a large apparel and garment hub, and the cold wave has delayed summer demand. Meanwhile, processors and manufactures are watching weather conditions very closely, and will ramp up their production only when weather improves in north India.

In Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded down by ₹20-30 at ₹1930-1990 per 5 kg and ₹1670-1730 per 5 kg respectively. 80 count carded cotton yarn of weft variety was sold at ₹1860-1900 per 4.5 kg with loss of ₹20. Carded cotton yarn (44/46 count) of warp variety was traded down by ₹30 at ₹1720-1740 per 5 kg.

ICE cotton futures scaled higher on Thursday as the dollar fell, after USDA’s weekly export sales report outlined stronger purchasing activity from top consumer China. Cotton contract for March 2022 closed at 127.62 cents, up 129 points; May 2022 closed at 124.73 cents, up 170 points; December 2022 closed at 103.88 cents, up 93 points. A trade analyst said, “The export sales report was strong again and coming during the Chinese New Year was a bit of a surprise. China was a featured buyer, strong demand still showing despite high prices.”

Cotton prices were stable in the markets of Gujarat on Friday amid limited demand from mills, while daily arrivals remained steady. 29 mm cotton was traded at ₹77,500-78,000 per candy of 356 kg each. A grade cotton was sold at ₹77,500-78,000, B grade at ₹76,000-77,000 and average grade cotton at ₹73,000- 74,000 per candy. 

Fibre2Fashion News Desk (KUL)