South India's cotton yarn market still bearish; buyers remain absent

The Mumbai market noted a drop of ₹5-10 per kg in cotton yarn prices. The lower prices also failed to attract buyers. A trader from Mumbai market told Fibre2Fashion, “Prices are likely to fall further in the coming days. Cotton yarn may decline by ₹10-15 per kg to encourage buyers. Mills and stockists are feeling the pressure of selling their stocks.” 

In the Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,620-1,660 and ₹1,540-1,580 per 5 kg (GST extra) respectively. 60 combed warp was priced at ₹375-385 per kg. 80 carded (weft) cotton yarn was sold at ₹1,560-1,600 per 4.5 kg. 44/46 count carded cotton yarn (warp) was priced at ₹310-315 per kg. 40/41 count carded cotton yarn (warp) was sold at ₹288-295 per kg. 40/41 count combed yarn (warp) was priced at ₹320-332 per kg, according to Fibre2Fashion’s market insight tool TexPro. 

In Gujarat, daily cotton arrival was at 14,000-15,000 bales of 170 kg each. Cotton prices gained in the last couple of days. Shankar-6 cotton was traded at ₹70,000-71,000 per candy of 356 kg in the spot market of Gujarat. Earlier, it had fallen to ₹68,500-69,000 per candy. Discouraged by lower prices, sellers reduced the supply of cotton. 

Fibre2Fashion News Desk (KUL)