Foreign news on June 8th: traders and the weaving industry in northern India increased their purchases of cotton yarn, causing the market price in Ludhiana to increase by 3 rupees per kilogram. This growth can be attributed to factories increasing their sales rates. Delhi markets, however, remained stable after rising earlier in the week. Traders are concerned about demand in the retail market, but expect that demand for intermediate products such as fiber, yarn, and fabrics may increase in the final months of the year. The current year will end in September.
Cotton yarn price has increased by Rs 3 per kg in Ludhiana market. Textile mills are increasing carding rates after several mills stopped selling cotton yarn raw materials. Gulshan Jain, a trader in Ludhiana market, said: “Market sentiment is still optimistic. Spin mills have increased selling prices to support market prices. In addition, China’s purchase of cotton yarn in recent days has also boosted demand.”
30 count combed yarn is selling at Rs 265-275 per kg (including GST), 20 count and 25 count combed yarn is trading at Rs 255-260 per kg and Rs 260-265 per kg . The price of 30 count carded yarn is 245-255 rupees per kilogram.
The price of cotton yarn in Delhi market remains unchanged, and buying is active. A trader in the Delhi market said: “The market is observing stable cotton yarn prices. Buyers are worried about demand from the retail sector and export demand has failed to support the domestic value chain. However, the recent increase in the minimum support price (MSP) of cotton may prompt an increase in the industry In stock.”
30 count combed yarn is trading at 265-270 rupees per kg (excluding GST), 40 count combed yarn is 290-290 per kg 295 rupees, 30-count carded yarn 237-242 rupees per kilogram, 40-count carded yarn 267-270 rupees per kilogram.
Recycled yarn remains stable in Panipat market. In the home textiles hub of India, demand from the consumer sector remains low, with slowdown in demand for home products in the domestic and global markets. Therefore, buyers are very cautious when purchasing new yarn, and factories have not lowered yarn prices to attract buyers.
The trading price of 10-count recycled PC yarn (grey) is 80-85 rupees per kilogram (excluding goods and services tax), and the trading price of 10-count recycled PC yarn (black) 50-55 rupees per kilogram, 95-100 rupees per kilogram for 20-count recycled PC yarn (grey), 140-145 rupees per kilogram for 30-count recycled PC yarn (grey). The price of roving is about 130-132 rupees per kg and recycled polyester fiber is 68-70 rupees per kg.
Due to the weakness of ICE cotton futures, cotton prices in northern India have shown a downward trend. Spinners are buying cautiously after the recent rise in cotton prices. In the next year starting from October, the central government has increased the minimum support price (MSP) of medium short staple cotton by 8.9% to Rs 6,620 per quintal. However, this did not provide support for cotton prices, which were already higher than the government’s purchase price. Traders noted that there was limited buying activity in the market as prices remained stable.
Punjab and Haryana cotton transaction price fell by 25 rupees to 37.2 kg. The arrival quantity of cotton is 2500-2600 bales (170 kg per bale). Prices range from 5850-5950 rupees in Punjab and 5800-5900 rupees in Haryana. Cotton in upper Rajasthan is trading at Rs 6,175-6,275 per 37.2 kg. Cotton in lower Rajasthan is sold at Rs 56,500-58,000 per 356 kg.
