Foreign news on November 4, cotton yarn prices of different varieties and counts in southern India were mostly stable on Friday due to improved demand in Tirupur and Mumbai.
Traders said that the recent rise in ICE cotton futures encouraged buyers throughout the value chain. However, consumer purchasing behavior has yet to pick up.
Mumbai traders believe that buyers are actively buying but are cautious due to lack of confidence.
Textile mills have a large inventory of cotton yarn, and there is currently no hope of price increases. Downstream payments are a real issue for the industry as a whole. No one knows when demand will pick up,” said a trader in the Mumbai market.
In Mumbai, warp and weft yarns of 60-count combed cotton yarn are priced at 5 kg Rs 1620-1650 and Rs 1550-1570 (GST extra). 60 count combed cotton yarn warp price Rs 350-355 per kg. 80 count combed cotton yarn weft price per 4.5 kg Rs 1450-1480. 44/46 count slub The price of cotton yarn is 300-307 rupees per kg. The price of 40/41 slub cotton yarn is 290-295 rupees per kg.
In the Tirupur market, cotton yarn prices remained stable, However, demand has improved due to higher cotton prices.
As demand has improved over the past few days, the entire value chain has been active.
A trader said, “The rise in ICE cotton futures supports domestic cotton prices. Rising cotton prices have encouraged buyers across the value chain and they are also keen on purchasing yarns and fabrics. ”
“However, end-user purchases have not yet picked up. So we have to review the situation every week. In addition, demand for next week is unpredictable. ” added the trader.
30 count combed cotton yarn was traded at Rs 305-310 per kg (excluding GST) in Tirupur today. 34 The trading price of count combed cotton yarn is 315-320 rupees per kilogram, and the trading price of 40 count combed cotton yarn is 320-325 rupees per kilogram.
In Gujarat, due to ICE cotton futures Cotton prices have increased by Rs 1,000 per kandi (356 kg).
According to market sources, textile mills are interested in purchasing. They are ready to pay more High prices because they see the rising trend of cotton.
In Gujarat, cotton prices are reported at 64,500-65,000 rupees/kandi.
The price of seed cotton is quoted at 1800-1900 rupees per moend (20 kg).
