Foreign news reported on January 16 that cotton yarn in northern India showed a bearish trend due to sluggish demand. Cotton yarn prices fell by Rs 5 per kg in Ludhiana due to weak demand from the consumer sector. But prices were steady in Delhi. Traders said the sluggish demand was because the apparel industry was still struggling under the influence of reduced consumer purchases.
Cotton yarn prices in Ludhiana fell by Rs 5 per kg. “Buyers are unwilling to buy at current prices. The downstream industry is still unclear. Payments are also tight, which is further hampering purchases,” said a trader in Ludhiana.
In Ludhiana, 30-count combed yarn is sold at Rs 277-287 per kg (including GST); 20-count and 25-count combed yarn are trading at Rs. 267-277 rupees and 272-282 rupees per kilogram; 30-count woolen yarn was stable at 257-267 rupees per kilogram.
In Delhi, cotton yarn prices remained stable and trading volumes were limited. A trader in Delhi said demand in the downstream industry was weak again. Cotton yarn cannot be purchased with confidence from the consumer industry. In the market, the price of 30-count combed yarn is 280-285 rupees per kilogram (plus consumption tax), 40-count combed yarn is 305-310 rupees per kilogram, 30-count carded yarn is 255-260 rupees per kilogram, and 40-count carded yarn 280-285 rupees per kg.
Panipat Recycled Yarns also noted significant buying weakness. Traders said negligible export orders led to lower buying by the manufacturing sector. The very small amount of recycled yarn is down to 2-5 pounds per kilogram. However, combed and recycled polyester fiber prices remained stable.
The price of 10-count recycled yarn (white) is 88-90 rupees per kilogram (extra consumption tax), and the price of 10-count recycled yarn (colored-high quality) is 105-110 rupees per kilogram. , 10-count recycled yarn (colored-low quality) 80-85 rupees per kilogram, 20-count recycled colored PC (high-quality) 110-115 rupees per kilogram, 30-count recycled colored PC (high-quality) 145-150 rupees per kilogram. The market price of 10-count optical yarn is 100-110 rupees per kilogram, and that of combed cotton is 150-155 rupees per kilogram. The price of recycled polyester fiber (PET bottle fiber) is 80-82 rupees per kilogram.
Cotton prices in northern India remain stable despite lower production expectations. The Cotton Association of India has lowered its current production estimate for 2022/23 by 925,000 bales (170 kg each) to 33.05 million bales. Local traders said that demand from spinning mills remains weak and the decline in output does not support prices. Price increases are unlikely due to reduced consumption due to price differences. Cotton price in Punjab is 6250-6375 rupees, Haryana is 6200-6350 rupees, and upper Rajasthan is 6400-6500 rupees.
