The Tiruppur market noted an increase of ₹6-8 per kg in cotton yarn, especially in coarse counts. A trader from the Tiruppur market told Fibre2Fashion, “Mills were more interested in raising prices in coarse counts of cotton yarn as there was good demand for these counts. Although traders and stockists were busy with profit selling, market prices found room to rise.”

In Tiruppur market, cotton yarn prices were noted as 30 count combed cotton yarn at ₹272-280 (approximately $3.28-3.38) per kg (excluding GST), 34 count combed cotton yarn at ₹282-285 (approximately $3.35-3.45) per kg, 40 count combed cotton yarn at ₹290-300 (approximately $3.50-3.62) per kg, 30 count carded cotton yarn at ₹240-248 (approximately $2.89-2.99) per kg, 34 count carded cotton yarn ₹247-256 (approximately $2.98-3.09) per kg and 40 count carded cotton yarn ₹256-265 (approximately $3.09-3.20) per kg, according to Fibre2Fashion's market insight tool TexPro.

A trader from Mumbai told Fibre2Fashion, “Buyers were keen to buy cotton yarn because they expected respite in the payment rule. Higher demand and a recent surge in cotton prices caused an increase in yarn prices. The downstream industry is getting ready to accept a steep rise in cotton prices.”

In Mumbai, several counts and varieties of cotton yarn witnessed an upward trend. These prices gained ₹2-4 per kg in various counts and varieties. The 60 carded yarn of warp and weft varieties were sold at ₹1,445-1,470 (approximately $17.43-17.73) and ₹1,340-1,380 per (approximately $16.16-16.65) 5 kg (excluding GST), respectively. Other prices include 60 combed warp at ₹322-328 (approximately $3.88-3.96) per kg, 80 carded weft at ₹1,430-1,470 (approximately $17.25-17.73) per 4.5 kg, 44/46 carded warp at ₹257-265 (approximately $3.10-3.20) per kg, 40/41 carded warp at ₹252-258 (approximately $3.03-3.11) per kg, 40/41 combed warp ₹282-285 (approximately $3.40-3.44) and 30/32 carded warp at ₹250-255 (approximately $3.02-3.08) per kg, as per TexPro.

Cotton prices witnessed a bearish tone due to ease in ICE cotton. Cotton prices eased by ₹500 (approximately $6.03) per candy of 356 kg in the Gujarat market in a couple of days. Traders said that although short-term corrections are imperative, a downfall in domestic prices is not expected. Farmers are not bringing seed cotton because of the recent correction in prices. However, cotton arrivals were estimated at 30,000-32,000 bales of 170 kg in Gujarat. All India arrival was estimated at 110,000-120,000 bales. In Gujarat, benchmark Shankar-6 cotton was quoted between ₹60,500-61,000 (approximately $729.75-735.78) per candy of 356 kg. Southern mills intended to buy cotton at ₹61,500-62,000 (approximately $741.81-747.84) per candy.

Fibre2Fashion News Desk (KUL)