Foreign news on February 25, cotton yarn prices in southern India fell on Friday as domestic and export demand dried up. Amid uncertainty about tensions between Russia and Ukraine, buyers did not want to adventure. Buyers prefer to wait and see when assessing the trade situation.
TT Limited general manager Sanjay KJain said: “Crude oil is the only worrying issue for the Indian textile industry. Russia and Ukraine are not India’s main export markets, and there is currently no significant export to India. Impact. But if tensions continue and expand, the situation may be reversed. Therefore, the domestic textile industry is currently taking a cautious approach.”
A broker in Mumbai said that cotton yarn prices There has been a sharp fall, there is a lack of buyers, and 60% of looms have temporarily stopped operating as demand from the garment manufacturing industry has dried up. Therefore, spinning mills, traders, and stockists are all under pressure to sell at reduced prices. Market sources said buyers across the textile industry value chain are cautious about new purchases.
In addition, cotton prices in Western Kupang remain stable, demand from textile mills is limited, and daily arrivals have not changed significantly. Textile mills are taking a wait-and-see approach due to uncertainty caused by tensions between Russia and Ukraine.
