Foreign news reported on June 27 that cotton yarn prices in southern India continued to fall. Due to the shortage of orders in the apparel industry, the purchasing habits of the textile industry are still bearish. Cotton yarn prices fell by up to 7 rupees per kilogram in Mumbai and Tirupur. Traders expect that an active rainy season will drive demand recovery, as an increase in labor force will push textile mills to increase output. However, domestic yarn demand in India has not yet improved. Traders believe that domestic demand alone is not enough to stimulate market sentiment. In addition, the export market has not improved.
Cotton yarn prices in Mumbai fell by 3-7 rupees per kilogram. Although the monsoon season has been active, demand is still sluggish. A trader in Mumbai said: “After the summer, the labor force usually increases, which will prompt textile mills to increase output. However, we have not seen an increase in cotton yarn purchases this year. The current bearish market environment may not prompt textile mills to increase output. ”
60-count carded yarn warp and weft are priced at Rs 1,420-1,445 and Rs 1,290-1,330 per 5 kg (excluding GST). The price of 60-count combed warp yarn is 325-330 rupees per kilogram, the 80-count carded weft yarn is 1325-1350 rupees per 4.5 kg, the 44/46-count carded warp yarn is priced at 254-260 rupees per kilogram, and the 40/41-count carded warp yarn is priced at 254-260 rupees per kilogram. Rs 224-248 per kg and Rs 270-275 per kg for 40/41 count combed warp yarn.
Cotton yarn prices in Tirupur further fell by Rs 2-3 per kg. Cotton mills are offering bigger discounts to buyers as they face difficulties in selling their products. A trader in Tirupur said: “Cotton spinning mills have not reduced prices, but they have provided greater discounts. As consumer companies are cautious in signing new orders, it has become increasingly difficult for cotton spinning mills to sell cotton yarn. Big.”
The price of 30-count combed yarn is 260-265 rupees per kilogram (excluding GST), and the 34-count combed yarn is 272-278 rupees per kilogram. Rupees, 40 count combed yarn 282-288 rupees per kilogram, 30 count carded yarn 238-243 rupees per kilogram, 34 count carded yarn 245-250 rupees per kilogram, 40 count carded yarn 248-253 rupees per kilogram.
In Kupang, cotton prices continued to fall due to sluggish demand from spinning mills. Since last week, cotton prices have further fallen by Rs 1,000 per kandy (1 kandy = 356 kg). Traders reported that ginners were slow to purchase natural cotton due to weak demand from manufacturing companies. Cotton price per candy is 54,500-56,000 rupees. The arrival volume of cotton in Gujarat is estimated to be around 10,000-12,000 bales (1 bale = 170 kilograms), and the arrival volume of cotton in India is estimated to be 38,000-40,000 bales.
