NEW DELHI, June 3 (Commoditiescontrol) : South India’s cotton yarn market noticed mixed trend as prices gained in Mumbai market but Tiruppur market witnessed softness due to slower demand. Mumbai based traders said that cotton yarn prices gained ₹2-5 per kg as stockists and traders rushed to the market at lower prices. However, trade sources in Tiruppur said that the market continued to see lowering in the prices. Cotton yarn various varieties and counts eased ₹2 per kg.
In Mumbai, cotton yarn prices increased ₹2-5 per kg after fall in prices of the natural fibre. Lower prices attracted buyers to average their holding. A trader from Mumbai market said that one should not get confused about demand and consumption from weaving industry. Buying improved from trader and stockists who wanted to lower their cost of holding. There was no improvement from consumer industry.
In Mumbai, cotton yarn was traded higher ₹2-5 per kg. 60 count carded cotton yarn of warp and weft varieties was sold at ₹1,470-1,500 and ₹1,340-1,380 per 5 kg (excluding GST), respectively. Other prices include 60 combed warp ₹345-352 per kg, 80 carded (weft) cotton yarn ₹1,420-1,450 per 4.5 kg, 44/46 count carded cotton yarn (warp) ₹264-272 per kg, 40/41 count carded cotton yarn (warp) ₹256-264 per kg and 40/41 count combed yarn (warp) ₹280-287 per kg.
In the Tiruppur market, cotton yarn prices remained weak. The prices eased down ₹2 per kg as buyers were still reluctant for fresh buying. Mills have maintained their card rate for this month. They wanted to retain prices at current level as they are facing losses of ₹10-15 per kg as mills says. A trader from Tiruppur said that there was no improvement in demand of cotton yarn. Weaving and garment industries are not buying their raw materials as they don’t have orders from buyers. They are waiting for domestic and export orders.
Prices in the Tiruppur market were noted as 30 count combed cotton yarn ₹264-270 per kg (excluding GST), 34 count combed cotton yarn ₹275-280 per kg, 40 count combed cotton yarn ₹285-292 per kg, 30 count carded cotton yarn ₹240-245 per kg, 34 count carded cotton yarn ₹247-252 per kg and 40 count carded cotton yarn ₹250-257 per kg.
In Gujarat, cotton prices improved amid slow buying from ginning mills. The natural fibre gained ₹1,000-1,200 per candy of 356 kg in last couple of days. According to the trade sources, ginners are not too much scared. They already booked losses due to price disparity. Now, they want to hold stock to support cotton prices. Cotton was traded at ₹58,000-58,500 per candy of 356 kg. Cotton arrivals in Gujarat were estimated at 18,000-20,000 bales of 170 kg, with all India arrival estimated around 65,000-70,000 bales of 170 kg.
(By Commoditiescontrol Bureau)
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