Recently, in Mumbai, yarn prices go down by ₹5-10 per kg, due to poor demand and the psychological pressure of import deals on cotton.
Though the Taiwanese supply of cotton yarn is expected to reach Indian ports in July, yarn prices are stable in the Tiruppur market.
According to a broker in India, “Recent reports of cotton yarn import dampened market sentiments. Buyers further cautioned from possible better availability of yarn.”
There was very limited trade in cotton yarn as buyers were reluctant to buy at higher prices.
In the Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded at ₹2,070-2,120 and ₹1,950-2,020 per 5 kg (GST extra) respectively. Carded cotton yarn (44/46 count) of warp variety was traded at ₹1,930-1,970 per 5 kg. 80 count carded cotton yarn of weft variety was sold at ₹2,080-2,120 per 4.5 kg. 40 count carded cotton yarn (warp) was sold at ₹370-378 per kg. 40 count combed yarn (warp) was priced at ₹420-440 per kg, according to an analysis.
Because of the weaker demand for yarn, the entire south of India remained under pressure and concern for the market, but yarn prices in Tirupur were stable after the downfall early this week.
In Gujarat, cotton prices were hovering at around ₹100,000-105,000 per candy of 356 kg, though demand of supply remained stable.
Saurin Parikh, President, All Gujarat Spinners’ Association (AGSA) said, “Mills from Gujarat export a significant 30% of their total cotton yarn production, while the remaining is supplied in the domestic market.”
In the domestic market, the demand for apparel and fabric has also been down and the weavers have begun to reducing their inventory gradually to cope up with the situation
