Stable trend in south India's cotton yarn market amid Holi festivity

In Mumbai, the market experienced weaker demand from the downstream industry. However, export buying was slightly better, and cotton yarn prices remained stable. "Workers were going on leave for the Holi festival, and financial closing in March also decreased production activities. Therefore, local demand was slower. However, the prices did not indicate any decline," Jai Kishan, a trader from Mumbai told Fibre2Fashion. 

In Mumbai, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,525-1,540 and ₹1,450-1,490 per 5 kg (GST extra), respectively. According to Fibre2Fashion's market insight tool TexPro, 60 combed warp was priced at ₹342-345 per kg. 80 carded (weft) cotton yarn was sold at ₹1,440-1,480 per 4.5 kg. 44/46 count carded cotton yarn (warp) was priced at ₹280-285 per kg. 40/41 count carded cotton yarn (warp) was sold at ₹260-268 per kg, and 40/41 count combed yarn (warp) was priced at ₹290-303 per kg. 

Meanwhile, the prices in Tiruppur market also remained stable. Trade sources said that demand was average, which could support the current price levels. Mills based in Tamil Nadu were running on 70-80 per cent production capacity. The market could find support next month when the industry renews its production in the next financial year. 

In the Tiruppur market, 30 count combed cotton yarn was traded at ₹280-285 per kg (GST extra), 34 count combed at ₹292-297 per kg, and 40 count combed at ₹308-312 per kg. Cotton yarn of 30 count carded was sold at ₹255-260 per kg, 34 count carded at ₹265-270 per kg, and 40 count carded at ₹270-275 per kg, according to TexPro. 

In Gujarat, cotton prices eased again after a slight gain in the previous session. Trade sources said that spinners were buying cotton, but they were very cautious about prices. Mills were trying to grab cheaper deals. Cotton arrival was estimated at around 1.58 lakh bales of 170 kg in India, while the Gujarat market noted the arrival of 37,000 bales. The prices were hovering between ₹62,500 to ₹63,000 per candy of 356 kg. 

Fibre2Fashion News Desk (KUL)