Foreign news on March 16, cotton prices in #Northern India# fell back on Thursday due to the decline in #ICE cotton futures# and #crude oil#. #RajasthanNorth#Cotton prices fell by Rs 25 per morind (37.2 kg) and Rs 500 per kandy (356 kg). #Punjab#, #Haryana# cotton price per morund is 6100-6200 rupees, #UpperRajasthan# cotton price per morind is 6300-6375 rupees, #LowerRajasthan# cotton price is 58500 per kandi -Rs 60500. North Indian cotton arrivals are expected to be 15,000 bales (170 kg each).
#IndiaNorthern cotton yarn# still showed a bearish tone on Thursday, and prices continued to fall. #LUdhiana#Cotton yarn price fell by Rs 2 per kg, #Delhi#, #Panipat# remained stable. Overall, buyers are cautious as falling cotton prices discourage buyers who had expected a fall in yarn prices.
After the drop in cotton prices, the price of cotton yarn in Ludhiana further fell by 2 rupees per kilogram. The slowdown in demand has put price reduction pressure on wholesalers and traders. A trader in Ludhiana said: “Cotton yarn prices have fallen further due to limited purchases. Exporters are buying cotton yarn to fulfill their commitments, but after the fall in cotton prices, they have slowed down their purchases.”
Ludhiana #30 combed cotton yarn# is sold at 280-290 rupees per kilogram (including excise tax), down 2 rupees. #20 count and 25 count combed cotton yarn# 270-280 rupees and 275-285 rupees per kilogram. #30 Carded Cotton Yarn# 260-270 rupees per kilogram.
Delhi cotton yarn remains stable with buyers cautious due to slowdown in consumer demand. A trader in Delhi said: “Buyers are only buying to meet immediate demand. The downstream industry has no confidence in consumer demand. Since cotton prices are unlikely to rise in the near future, buyers are not in a hurry.”
The price of 30-count combed cotton yarn in Delhi is 285-290 rupees per kilogram (excluding consumption tax), and #40-count combed cotton yarn# is 315-320 rupees per kilogram. According to TexPro data, 30-count carded cotton yarn is priced at 266-270 rupees per kilogram, and #40-count carded cotton yarn is priced at 295-300 rupees per kilogram.
Due to weak demand, #Panipat##Recycled Yarn# remains stable, and home furnishings are in the off-season until June. A trade source in Panipat said demand is not expected to pick up in the coming months.
