Cotton yarn prices drop in India amid speculations of global recession

“Buyers remained absent from the market as they were unsure about demand from the garment industry. Exports were also unviable due to the disparity in prices. Indian yarn cannot be shipped in other countries as domestic cotton is 15 per cent costlier,” a trader from Mumbai told Fibre2Fashion. 

In Mumbai, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,640-1,680 and ₹1,550-1,600 per 5 kg (GST extra) respectively. 60 combed warp was priced at ₹360-365 per kg. 80 carded (weft) cotton yarn was sold at ₹1,520-1,540 per 4.5 kg. 44/46 count carded cotton yarn (warp) was priced at ₹305-310 per kg. 40/41 count carded cotton yarn (warp) was sold at ₹282-288 per kg and 40/41 count combed yarn (warp) was priced at ₹300-305 per kg, according to Fibre2Fashion’s market insight tool TexPro. 

Tiruppur market remained steady amid weaker demand. Mills were facing disparity as they were unable to increase yarn prices. The recent fall in yarn prices also widened mills’ losses. Traders said that buyers were not willing to take risks amid speculations of global recession. Today, 30 count combed cotton yarn was traded at ₹295-300 per kg (GST extra), 34 count combed at ₹310-315 per kg and 40 count combed at ₹320-325 per kg in the Tiruppur market. Cotton yarn of 30 count carded was sold at ₹268-272 per kg, 34 count carded at ₹275-280 per kg and 40 count carded at ₹282-285 per kg, as per TexPro. 

In Gujarat, cotton was traded at ₹66,500-67,000 per candy of 356 kg. The prices were up by ₹500 per candy since last Tuesday. The ginners were not keen for production due to a disparity of ₹300 per candy. Spinners bought less cotton as they are not getting enough demand from the weaving industry. According to the traders, there was uncertainty regarding improvement in demand. 

Fibre2Fashion News Desk (KUL)