Foreign news reported on September 12 that the cotton yarn market in southern India had mixed gains and losses today. Despite weak demand, cotton yarn prices in Mumbai remained strong as spinners quoted higher prices. But in Tiruppur, cotton yarn prices fell by Rs 2-3 per kg. Spinners are eager to sell yarn as trade in West Bengal will be disrupted in the last ten days of this month due to Durga Puja.
Cotton yarn prices in Mumbai market show an upward trend. Spinners have increased their quotations by Rs 5-10 per kg as their stocks will be depleted. A trader in the Mumbai market said: “The market is still facing weak demand. Spinners are offering higher prices as they try to limit the price gap by raising prices. Despite poor buying, falling inventories also support this trend.”
However, the price of cotton yarn in Tiruppur market has further declined. Traders said that the transaction price of cotton yarn fell by 2-3 rupees per kilogram. A trader from Tiruppur said: “Durga Puja will be celebrated in West Bengal in the last week of this month. This will affect the supply of yarn from September 20 to 30. Purchases from eastern states have reduced, resulting in lower prices. “Traders believe overall demand is also weak. Market sentiment remains weak.
In Kupang, cotton prices remained stable despite reports of incessant rainfall in the state. The entire Kupang New Cotton arrival volume is about 500 bales, each bag weighing 170 kilograms. Traders said that despite the rain, buyers remained hopeful that cotton would arrive in time. If it rains for a few more days, crop failure will be inevitable.
