Foreign news on March 14, cotton prices in Kupang were stable at 61,000-61,500 rupees per kandi (356 kg). Trade sources said cotton prices were holding steady amid slowing demand. Cotton prices rose on Monday after falling sharply the previous week. After last week’s drop in cotton prices, ginners are less interested in cotton production. So if cotton prices don’t improve soon, ginners may shut down operations as the cotton season enters its final stages.
Cotton yarn prices in southern India held steady on Tuesday despite slowdown in demand from downstream industries. The selling price of cotton yarn in Mumbai and Tirupur remained at the previous level. However, spinners in southern India are aggressively selling yarn in Maharashtra, where the textile and apparel industry is facing a labor shortage due to the absence of foreign workers after the Holi festival.
Weak demand from downstream industries in Mumbai has put additional pressure on spinning mills. Traders and textile mill owners are trying to assess the impact on prices. Labor shortage is also another problem faced by the textile industry.
Mumbai 60-count carded warp and weft yarn is trading at Rs 1,525-1,540 and Rs 1,400-1,450 per 5 kg (excluding GST). 60 count combed warp yarn 342-345 rupees per kg. Meanwhile, 80-count carded weft yarn is selling at Rs 1,440-1,480 per kg, 44/46-count carded warp yarn is priced at Rs 280-285 per kg, 40/41-count carded warp yarn is priced at Rs 260-268 per kg, 40/41 Count combed warp yarn 290-303 rupees per kilogram.
There is no sign of improvement in sentiment in Tirupur and labor shortage is likely to put pressure on the entire value chain. Despite this, cotton yarn prices remained stable as textile companies had no intention of cutting prices. The trading price of 30-count combed cotton yarn is 280-285 rupees per kilogram (excluding consumption tax), 34-count combed cotton yarn is 292-297 rupees per kilogram, and 40-count combed cotton yarn is 308-312 rupees per kilogram. Meanwhile, 30-count carded cotton yarn is priced at Rs 255-260 per kg, 34-count carded cotton yarn is priced at Rs 265-270 per kg, and 40-count carded cotton yarn is priced at Rs 270-275 per kg.
