Foreign news on September 1, benefiting from buying from the textile industry, cotton yarn prices in northern India remained stable. Cotton yarn is at the same price level in Delhi and Ludhiana.
The price of recycled cotton yarn in Banipat, Haryana, India also remained stable.
Traders expect demand to improve over time as the arrival of autumn crops will support the textile value chain and the country’s economy.
A local trader said, “The textile industry is adopting a wait-and-see policy to confirm future demand in the apparel industry. But the market is optimistic about demand improvement.”
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According to Fibre2Fashion market insight tool TexPro, 30-count combed cotton yarn sells for 394-399 rupees per kilogram (including consumption tax). Combed cotton yarn of 20-count and 25-count is priced at Rs 380-385 and Rs 385-390 per kg. 30 count carded cotton yarn is quoted at 345-350 rupees per kilogram.
The price of cotton yarn in Delhi market is stable. Traders said neither domestic nor export demand has picked up yet. Festival demand has not yet started.
A trader said that buyers only buy cotton yarn for immediate consumption. 30-count combed cotton yarn is priced at 385-390 rupees per kilogram (including consumption tax); 40-count combed cotton yarn is priced at 425-430 rupees per kilogram; 30-count carded cotton yarn is priced at 345-350 rupees per kilogram; 40-count carded cotton yarn is priced at 345-350 rupees per kilogram; Cotton yarn prices were quoted at Rs 380-385 per kg.
Despite the upcoming festive season, the Panipat market is yet to receive signals of an upturn in demand. Despite poor demand, recycled yarn price trends are stable. According to trade sources, festive demand has not increased yet. It is difficult for consumers to save money to buy non-essential items such as clothes. However, the arrival of autumn harvest brings a glimmer of hope to the market.
Economic activity in rural and semi-urban India is likely to improve when new autumn crops start arriving this month. It will provide funds to end-users to purchase discretionary items such as textiles.
Recycled yarn prices are stable as traders, retailers and textile mills are not interested in price cuts.
In Banipat market, 30-count recycled yarn is sold at Rs 160-165 per kilogram (excluding GST).
The trading price of 10-count recycled yarn (white) is 90-95 rupees per kilogram (excluding GST), and the trading price of 10-count recycled yarn (colored-high quality) 85-90 rupees per kilogram, and the transaction price of 20-count recycled yarn (colored) is 120-125 rupees per kilogram.
The price of recycled polyester fiber is 88-91 rupees per kilogram.
New cotton prices in northern India remain bearish due to limited buying from textile mills. High humidity keeps buyers away from the market. The humidity is slightly higher at 12%-14%, and the acceptable humidity is 8%-10%. New cotton is being shipped to most of the big bazaars of Haryana. The Grand Bazaar of Punjab also received the first batch of goods.
Traders are dealing with forward contracts for October delivery. In Punjab and Haryana, new cotton is traded at Rs 9,000-9,200 per morund. Cotton prices for October delivery were quoted at 8,000-8,100 rupees per morund.
