Foreign news reported on January 17 that cotton yarn prices in southern India remained stable due to weak market sentiment. Cotton prices in Mumbai were also steady. The Tamil Harvest Festival is being celebrated in Tirupur so there is no trade in the southern market. Traders said the decrease in buying orders was the reason for the weakening sentiment in yarn trading. However, export inquiries from the region have increased.
Cotton yarn prices remain stable in Mumbai. “Due to the uncertainty in the downstream industry, demand remains weak and cotton yarn prices remain stable,” said a trader in Mumbai.
In the Mumbai market, the price of 60-count carded warp and weft yarn is 1540-1570 rupees and 1440-1490 rupees per 5 kg, and the price of 60-count warp yarn is 345-350 rupees per kilogram. , 80-count carded yarn is 1470-1490 rupees per 4.5 kg, 44/46-count carded warp yarn is 285-290 rupees per kilogram, and 40/41-count carded yarn is 292-295 rupees per kilogram.
There was almost no trade in the Tirupur market as buyers and sellers were absent from the market due to the Tamil Harvest Festival.
Last week, the price of 30-count combed yarn was 285-290 rupees per kilogram (excise tax is levied separately), 34-count combed yarn was 300-305 rupees per kilogram, 40 Count combed yarn is 310-315 rupees per kilogram. The price of 30-count carded yarn is 255-260 rupees per kilogram, 34-count carded yarn is 265-270 rupees per kilogram, and 40-count carded yarn is priced at 270-275 rupees per kilogram.
In Gujarat, cotton prices fell by 500 rupees to 62,000-62,500 rupees/kandi (356 kg).
Traders said that based on the potential demand from exporters and textile merchants, the number of arrivals has not increased. Export demand is likely to increase soon, sources said. The transaction price of seed cotton is 1720-1740 rupees per 20 kg.
