Foreign news on May 9th, cotton yarn in southern India faces challenges as buying demand remains sluggish. Cotton yarn prices fell in both Mumbai and Tiplur. Trade sources said there are some export orders to China, but the volumes are not large, although several textile mills in Kupang have secured orders from Chinese buyers. Buyers are interested in purchasing yarn but are looking for attractive offers and discounts.
In Mumbai cotton mills and traders are facing pressure to clear inventory, resulting in a downward trend in cotton yarn prices. Cotton yarn fell by Rs 4-5 per kg.
A Mumbai trader said: “Cotton mills are calling dealers again to look for potential buyers. Normally, when there is a buyer, the dealer must Ask cotton mills about their needs, but now cotton mills are urging them to seek potential buyers.”
In Mumbai, the price of 60-count warp and weft roving is 1480- per 5 kg. 1515 rupees and 1340-1380 rupees (excluding GST). According to Fibre2Fashion’s market insights tool TexPro, other prices include: 60-count combed warp yarn at Rs 345-350 per kg, 80-count combed weft yarn at Rs 1,440-1,480 per 4.5 kg, 44/46-count combed warp yarn at Rs 273 per kg -278 rupees, 40/41 count combed warp yarn 258-268 rupees per kg, 40/41 count combed warp yarn 295-305 rupees per kg.
Slowing demand in Tipurur dragged cotton yarn down by Rs 2-4 per kg. A trader said: “Cotton mills and stockists are feeling the pressure of finding potential buyers. Demand in the downstream industry is very bad. Sellers have no choice but to lower prices.”
According to TexPro data, in Tirupur, 30-count combed cotton yarn costs 272-276 rupees per kilogram (excluding GST), 34-count combed cotton yarn 285-290 rupees per kilogram, and 40-count combed cotton yarn 300-276 per kilogram. 305 rupees, 30 count carded cotton yarn 247-250 rupees per kilogram, 34 count carded cotton yarn 252-255 rupees per kilogram, 40 count carded cotton yarn 260-265 rupees per kilogram.
Cotton prices in Kupang remained stable after rising slightly in the previous trading days. Intercontinental Exchange (ICE) cotton futures prices rose, causing buyers to seek new deals amid the rising price trend. However, the weak market for natural fibers has deterred buyers. The July ICE cotton futures contract closed down 2.31 cents or 2.77% on Monday, settling at 80.99 cents/pound.
The price of cotton yarn in Kupang is 61,500-62,000 rupees per kanti (356 kg), which is slightly higher than last week. The arrival volume of cotton in Kupang is expected to be 24,000-26,000 bales (170 kg bags), and the arrival volume in India is about 90,000 bales.
