Foreign news on November 3, cotton prices in northern India remained stable after rising on Wednesday. According to local dealers, sluggish demand from downstream industries is suppressing sentiment in the cotton market. There are no signs of improvement in buying, but increased buying of commodities, especially grain, is supporting cotton prices in local and global markets. Spinner demand has also not increased.
Punjab and Haryana cotton is traded at Rs 6,250-6,300 per mound (37.2 kg), and upper Rajasthan cotton is traded at Rs 6,450-6,450 per mound (37.2 kg) 6500 rupees. Cotton is sold at Rs 61,000-62,000 per kandi (356 kg) in lower Rajasthan. The quantity of cotton arriving in northern India is 14,000-15,000 bales (170 kg each).
Cotton yarn prices
Cotton yarn prices in northern India remain stable due to downstream Industry demand has not improved. The bleak outlook for future demand and concerns about a European recession are major concerns for the textile industry. Cotton yarn prices steady in Ludhiana, Delhi, Panipat, cotton prices remain unchanged after sudden rise.
Insufficient demand from the weaving sector cannot support market sentiment in Ludhiana where prices remain at the same level. A trader in the Ludhiana market said, “There are no signs of improvement in demand in local and global markets. India is worse than competitors because government policies are not helping the industry. Therefore, the yarn market is facing more difficulties.”
In Ludhiana, 30-count combed cotton yarn is sold at 300-310 rupees per kilogram (including GST), and 20-count and 25-count combed cotton yarn is sold at 290-310 rupees per kilogram. 300 and 295-305 rupees, 30 count carded cotton yarn was stable at 275-285 rupees per kg.
In Delhi, demand improved slightly in the past 2 days but then fell again. A dealer in the Delhi market said, “Speculations about economic recession and price differences in Europe have suppressed market sentiment. Only an improvement in global market conditions can support yarn prices.”
In the Delhi market, the transaction price of 30-count combed cotton yarn is 295-300 rupees per kilogram (excluding consumption tax), 40-count combed cotton yarn is 325-330 rupees per kilogram, 30-count carded cotton yarn is 275-280 rupees per kilogram, and 40-count thick Carded yarn is Rs 310-315 per kg.
The market price of recycled yarn in Panipat remains stable, and recycled yarn is mainly used for home decoration. According to traders, the home furnishing industry is struggling due to sluggish global demand. Demand was strong last year, but this year consumers stopped buying due to global challenges.
In Panipat, 10-count recycled yarn (white) is trading at Rs 100-105 per kg (excluding GST), 10-count recycled yarn (dyed – high quality) 110-115 rupees per kg and 10 count recycled yarn (dyed – low quality) 80-85 rupees per kg.
