In Ludhiana, cotton yarn traded at reduced prices due to slower demand and lower cotton prices. A trader from the Ludhiana market told Fibre2Fashion, "The demand for cotton yarn was not encouraging enough to support price stability. The cheaper cotton also added pressure on yarn prices." Although cotton prices saw a slight gain on Monday, they had dropped in the previous two weeks.

In Ludhiana, 30-count cotton combed yarn was sold for ₹263-273 (approximately $3.18-3.30) per kg (inclusive of GST); 20 and 25-count combed yarn traded at ₹253-263 (approximately $3.06-3.18) per kg and ₹257-267 (approximately $3.12-3.24) per kg, respectively; and 30-count carded yarn was noted at ₹242-247 (approximately $2.94-3.00) per kg today, according to trade sources.

However, the Delhi market experienced steadiness in cotton yarn prices. Trade sources reported average demand from the downstream industry. The lower cost of cotton also reduced the prospects for cotton yarn exports in the world market. Buyers were cautious about new purchases, but overall demand remained at an average level.

In this market, 30-count combed knitting yarn traded at ₹270-275 (approximately $3.24-3.30) per kg (GST extra), 40-count combed at ₹297-302 (approximately $3.56-3.62) per kg, 30-count carded at ₹247-252 (approximately $2.96-3.02) per kg, and 40-count carded at ₹275-278 (approximately $3.30-3.33) per kg today.

Panipat’s recycled yarn market saw limited trading ahead of the general elections. There was no significant movement in cotton prices as market participants were preoccupied with the election in Haryana, where voting will take place on May 25, 2024. A trader noted that there was minimal trade in the recycled yarn market. Buyers and sellers preferred to hold off on transactions due to police vigilance on cash transportation.

In Panipat, 10s recycled PC yarn (Grey) traded at ₹78-82 (approximately $0.94-0.98) per kg (GST paid). Other varieties and counts included 10s recycled PC yarn (Black) at ₹53-56 (approximately $0.64-0.67) per kg, 20s recycled PC yarn (Grey) at ₹90-95 (approximately $1.08-1.14) per kg, and 30s recycled PC yarn (Grey) at ₹128-132 (approximately $1.54-1.58) per kg. Cotton comber prices were noted at ₹113-116 (approximately $1.35-1.38) per kg. Recycled polyester fibre (PET bottle fibre) was noted at ₹74-77 (approximately $0.90-0.93) per kg today, as per market sources.

In north India, cotton prices improved slightly after a rise in domestic cotton futures. Cotton prices gained ₹25-30 per maund of 37.2 kg on Monday. Traders said that declining arrivals and stronger cotton futures supported spot prices in north Indian markets. Today's cotton arrivals decreased to 1,700 bales of 170 kg in north India. State-wise arrivals were as follows: 100 bales in Punjab, 700 bales in Haryana, 500 bales in upper Rajasthan, and 400 bales in lower Rajasthan.

Cotton prices in Punjab ranged from ₹5,825 to ₹5,850 (approximately $69.61-69.91) per maund of 37.2 kg, while in Haryana, prices ranged from ₹5,750 to ₹5,850 (approximately $68.71-69.91). In upper Rajasthan, cotton was priced between ₹5,650 and ₹5,850 (approximately $67.51-69.91) per maund. Bikaner line cotton sold for ₹5,850 to ₹5,950 (approximately $69.91-71.11) per maund. In lower Rajasthan, cotton was priced at ₹55,300 to ₹58,000 (approximately $668.27-692.26) per candy of 356 kg.

Disclaimer: The prices in this article are based on market sources and hence, readers are recommended to do their own research before making any decision. The publisher and their affiliates are not liable for any inaccuracies or actions taken based on this information.

Fibre2Fashion News Desk (KUL)