Foreign news on January 10, seasonal changes may help boost cotton yarn prices in southern India, as summer clothing production may pick up within a few weeks. The industry is trying to adjust production at current prices. Cotton yarn prices in Mumbai increased today as demand from downstream industries improved. Purchases also increased in Tirupur.
As demand increases, the price of cotton yarn in Mumbai has increased by 3-4 rupees per kilogram. “Demand has improved as summer wear production will pick up in the next 2-3 weeks. The industry is trying to adjust the current cotton yarn prices,” Mumbai-based trader Jai Kishan said.
Consumer industries and traders are buying cotton yarn, and fabric trading sentiment has also improved.
In the Mumbai market, the price of 60-count carded warp and weft yarn is 1540-1570 rupees and 1440-1490 rupees per 5 kilograms. 60 count warp yarn costs 345-350 rupees per kg and 80 count carded yarn costs 1470-1490 rupees per 4.5 kg. 44/46 count carded warp yarn is 285-290 rupees per kilogram; 40/41 count carded warp yarn is 292-295 rupees per kilogram.
Sentiment has improved in Tirupur despite restrictions on production and trade during the Tamil Harvest Festival.
Traders said that the textile industry is buying yarn because they need to prepare for the summer, and cotton yarn prices may rebound after the holiday.
Today in Tirupur, the price of 30-count combed yarn is 285-290 rupees per kilogram (excise tax is levied separately), and the 34-count combed yarn is 300-305 rupees per kilogram. Rs. 310-315 per kg for 40 count combed yarn.
30-count carded yarn is priced at 255-260 rupees per kilogram, 34-count carded yarn is priced at 265-270 rupees per kilogram, and 40-count carded yarn is priced at 270 per kilogram. -Rs 275.
In Gujarat, cotton prices fell by 500 rupees to 62,500-63,000 rupees/kandi (356 kg). There is still a price difference of 3000-4000 rupees per kandi among different ginning mills.
Cotton prices fell on weak demand from spinning mills and multinational companies.
According to traders, farmers are still reluctant to sell seed cotton, and the current price is 1,750-1,800 rupees per 20 kg. Optimism in the yarn trade could be positive for the market, however.
