Foreign news reported on July 24 that after a long wait, the price of cotton yarn in northern India increased. Cotton yarn transaction prices increased by Rs 4 per kg in Ludhiana and Delhi.
Trade sources pointed out that the textile industry’s demand has increased significantly, which strengthens people’s confidence in future price upward trends. The continued rise in cotton prices also provides a solid reason for the rise in yarn prices.
Traders believe that the increase in the minimum support price (MSP) of cotton in the next season will support the rise in the entire value chain.
Cotton yarn price in Ludhiana increased by Rs 4 per kg. A trader in Ludhiana said: “Spinning mills are confident of higher demand in the near future. They have stopped or reduced the discounts they offer buyers to show their confidence.”
30 count combed yarn is priced at Rs 257-267 per kg (excluding GST), 20 count and 25 count combed yarn is priced at Rs 246-251 per kg and 251- per kg 256 rupees, 30 count carded yarn 236-246 rupees per kilogram.
Cotton yarn prices in Delhi have also increased due to increased demand. A Delhi-based businessman said: “The market is expecting downstream industry support due to the upcoming festive season. It is finally getting this support as buying interest increases. It will be crucial whether this positive trend continues in the coming weeks. Important.”
Stable demand will reassure the market about future trends.
The price of 30-count combed yarn is quoted at 264-266 rupees per kilogram, 40-count combed yarn is 294-296 rupees per kilogram, and the 30-count carded yarn is 236 rupees per kilogram. -240 rupees, 40 count carded yarn 266-270 rupees per kg.
Not much activity was observed in Panipat recycled yarn. Prices of recycled yarn and raw materials remain stable.
According to industry insiders, the industry has large inventories and overcapacity, which has a negative impact on market sentiment.
Cotton prices in northern India continue to rise due to increased demand from spinning mills. According to industry sources, textile mills are experiencing higher demand for this natural fiber from the textile industry and they are confident of its value growth.
Cotton prices increased by 25-75 rupees/moend (37.2 kg) compared with the previous week.
Cotton price in Punjab is 5950-6050 rupees per morind; Haryana is 5800-5900 rupees per morind; northern Rajasthan is 6050-6050 rupees per morind. 6200 rupees.
