Foreign news reported on November 11 that conflicts within the textile value chain have left cotton yarn traders and buyers at a loss. Cotton prices in Mumbai and Tirupur remained stable on Friday amid poor buying in the textile sector. Demand in the textile and apparel industry is weak, so yarn prices have failed to find support. However, cotton prices are rising due to limited cotton arrivals.
Cotton yarn prices in Mumbai market tend to be stable. A trader in Mumbai said: “Buyers are unwilling to see cotton yarn prices rise. Demand from the textile and apparel industry has failed to provide support. But due to low arrivals, cotton prices are rising.”
In Mumbai, 60 count carded cotton yarn warp and weft prices are Rs 1670-1720 and Rs 1600-1620 per 5 kg (excluding GST). 60 count combed warp yarn 355-360 rupees per kg. 80 count combed weft yarn 1500-1540 rupees per 4.5 kg. 44/46 count woolen cotton yarn 310-315 rupees per kg. 40/41 count woolen cotton yarn costs 300-305 rupees per kg. 40/41 count worsted cotton yarn 320-325 rupees per kg.
In Tirupur market, cotton yarn prices also remained stable. Earlier, buyers were replenishing inventories but were cautious about further purchases. Traders believe that the contradictions in the textile value chain are detrimental to the industry, and buyers adopt a wait-and-see policy. 30 count combed cotton yarn traded at Rs 305-310 per kg (excluding GST) on Friday. 34 count combed cotton yarn is 315-320 rupees per kilogram, 40 count combed cotton yarn is 320-325 rupees per kilogram. 30 count carded cotton yarn is 275-280 rupees per kg. 34-count carded cotton yarn costs 282-285 rupees per kilogram, and 40-count carded cotton yarn costs 292-295 rupees per kilogram.
In Gujarat, cotton prices continue to rise. Cotton prices increased by Rs 1,000-1,500 per kandy (356 kg). There are speculations that two multinational companies have started buying cotton yarn in Gujarat at a price of Rs 68,000 per kandi. Traders say cotton prices are rising due to lower arrivals of seed cotton. Demand in downstream industries remains sluggish. Cotton price is reported at 67,000-68,000 rupees/kandy. The price of seed cotton is quoted at 1900-2000 rupees per morund (20 kg).
