Foreign news on July 12th: As buyers were still absent, cotton yarn prices in the southern Indian market fell further on Tuesday. Uncertain market conditions dampen buyer confidence. Production in the weaving and apparel industries is slow due to lack of end-user demand. Export orders from the United States and Europe are limited and demand is unlikely to improve soon, market sources said.
In the Mumbai market, cotton yarn prices fell by up to Rs 15 per kg due to sluggish demand and selling pressure from retailers. “There are still no buyers in the market. Most of the power looms are not working,” said a Mumbai-based broker. However, traders are hoping that a large number of looms that have been closed due to worker shortages will start production, and Muslim workers will celebrate Eid al-Fitr. Return to work after activity.
As demand remains very weak, cotton yarn prices in Tiruppur market have fallen further. Textile mills and retailers are feeling pressure to sell off their stocks, but buyers are staying silent.
Purusottam Parmanandka, a businessman from Tiruppur market, said: “There is an unprecedented situation in the market. Demand will not increase this month.”
It is said that export orders from the United States and Europe have decreased. In the Tiruppur market, cotton yarn prices fell further to Rs 3-5 per kg due to lack of buyers.
In Gujarat, cotton prices remained stable after swinging sharply in the previous session. Demand from textile mills was weak, but delays in cotton imports supported cotton prices near previous levels. The spot price of Shankar-6 cotton is Rs 78,000-88,000 per 356 kg.
