Foreign news on March 3 said that as Holi (the traditional Indian Spring Festival) approaches and factory workers take a holiday, cotton yarn in southern India remains stable. Traders said a lack of labor and financial settlement in March slowed production activity. Domestic demand has softened compared to export demand, but prices have remained stable in Mumbai and Tirupur.
In Mumbai, demand from downstream industries was weak. However, export demand improved slightly and cotton yarn prices remained stable.
Mumbai trader Jai Kishan said: “Workers are on vacation for Holi festival, and the financial settlement in March also suppressed production activities. Therefore, domestic demand has slowed down. However, prices have not Any sign of decline.”
In Mumbai, the price of 60-count carded yarn in different warp and weft is 1525-1540 rupees and 1450-1490 rupees per 5 kg. According to TexPro, the price of 60-count combed warp yarn is Rs 342-345 per kg. 80 count combed weft yarn is priced at Rs 1,440-1,480 per 4.5 kg. The price of 44/46 count warp yarn is 280-285 rupees per kilogram. The price of 40/41 carded warp yarn is 260-268 rupees per kilogram; the price of 40/41 combed warp yarn is 290-303 rupees per kilogram.
Prices were also stable in Tirupur. Trade sources said demand was half that, which could support prices at current levels. The Tamil Nadu plant is running at 70-80% capacity. The market may find support next month when the industry updates output for the next fiscal year.
In Tirupur, the price of 30-count combed cotton yarn is 280-285 rupees per kg, 34-count combed cotton yarn is 292-297 rupees per kg, and 40-count combed cotton yarn is 292-297 rupees per kg. Cotton yarn is Rs 308-312 per kg. According to TexPro, 30-count cotton yarn is priced at Rs 255-260 per kg, 34-count cotton yarn is priced at Rs 265-270 per kg, and 40-count cotton yarn is priced at Rs 270-275 per kg.
In Kupang, cotton prices fell again after rising slightly in the previous trading day. Trade sources said textile traders are buying cotton but they are very cautious about prices. Cotton mills try to grab cheaper deals. It is estimated that the arrival volume of Indian cotton is about 158,000 bales (170 kg/bag), of which 37,000 bales of Kupang cotton have arrived. The price of cotton per 365 kg is hovering at 62,500-63,000 rupees.
