Foreign news reported on July 18 that spinning mills in Tamil Nadu stopped production and suspended supply, boosting buying sentiment in southern India. Although cotton yarn prices remain stable, there is still hope for an increase in the future. Cotton yarn pickups increased in Mumbai and Tirupur as the textile industry rushes to secure more raw materials. It is worth noting that some spinning mills in Tamil Nadu have stopped production and sales of cotton yarn, but the current supply is still sufficient to meet existing demand. Nonetheless, news of production shutdowns and demand for the upcoming festive season have boosted market sentiment.
Cotton yarn prices in Mumbai remain unchanged but demand rises. Cotton yarn prices are expected to rise due to reduced production by spinning mills and reduced supply, so buyers are eager to get their hands on the yarn. A trader in the Mumbai market said: “Although the price of cotton yarn has not yet risen, the transaction volume has increased. The cotton yarn transactions in Bhiwandi and Malegaon markets are good. People have high expectations for the recent increase in yarn prices.”
60 count carded warp and weft yarn are priced at Rs 1420-1445 and Rs 1290-1330 per 5 kg (excluding GST). The price of 60-count combed warp yarn is 325-330 rupees per kilogram, the 80-count carded weft yarn is 1325-1350 rupees per 4.5 kilograms, the 44/46-count carded warp yarn is quoted at 254-260 rupees per kilogram, and the 40/41-count carded warp yarn is quoted at 242 rupees per kilogram. -246 rupees, 40/41 count combed warp yarn quoted 270-275 rupees per kilogram.
Promoted by the textile industry, Tiruppur cotton yarn trade has also increased. However, yarn prices remain stable. Purusottam Parmanandka, joint managing director of Kesharinandan, a Tirupur yarn trading company, said: “Some smaller mills have stopped cotton yarn production, which has led to an increase in pickups. However, the suspension has not led to a shortage in the market.”
30 count combed yarn 255-262 rupees per kg (excluding GST), 34 count combed yarn 265-272 rupees per kg, 40 count combed yarn 275-282 rupees per kg , 30-count carded yarn is 230-236 rupees per kilogram, 34-count carded yarn is 238-245 rupees per kilogram, and 40-count carded yarn is 241-246 rupees per kilogram.
Kupang cotton prices are trending higher due to concerns about domestic and US crop yields. Even as northern India receives heavy rains, central cotton-producing regions face rainfall deficiencies that could negatively impact domestic crops. Due to flood damage and heavy rainfall, some areas may need to be replanted. In addition, concerns that warming weather in the United States may damage the cotton crop caused ICE cotton futures to rise. Cotton price in Kupang increased by Rs 300 per kandy (356 kg). S-6 cotton is quoted at Rs 56,000-56,500 per kandi. The arrival volume of cotton in Kupang is about 8,000 bales (170 kg each), and the arrival volume of cotton in India is estimated to be 30,000-32,000 bales (170 kg each).
