Mumbai market witnessed better demand from powerlooms as they are increasing production in the anticipation of strong buying from garment industry for the coming summer season. But cotton yarn prices remained stable. A trader from Mumbai told Fibre2Fashion, “Workers have come back to work in thousands of powerlooms. The entire value chain is expecting higher buying for next summer season. Powerlooms will increase production as they are expecting better demand of fabric from garment industry.”

In Mumbai, 60 carded yarn of warp and weft varieties was sold at ₹1,400-1,420 and ₹1,275-1,330 per 5 kg (excluding GST), respectively. Other prices include 60 combed warp ₹315-322 per kg, 80 carded weft ₹1,400-1,440 per 4.5 kg, 44/46 carded warp ₹254-259 per kg, 40/41 carded warp ₹238-244 per kg, 40/41 combed warp ₹262-266 per kg and 30/32 carded warp ₹227-232 per kg, according to Fibre2Fashion's market insight tool TexPro.

Tiruppur market is also expecting the demand to increase in December 2023. Spinners have decreased mill rate of cotton yarn so they can attract buyers. Spinners have reduced mill rate by ₹10 per kg, but the market noted a decrease of ₹2-4 per kg for cotton yarn. A trader from Tiruppur told F2F, “Mill rate cut of ₹10 per kg was not realistic as it was more discount adjustment in actual prices. Spinning mills were already providing discounts to attract prices. But the market reduced ₹2-4 per kg. Prices are hovering at bottom levels therefore the prices may get support in further weeks.”

In Tiruppur market, cotton yarn prices remained stable. The prices were noted as: 30 count combed cotton yarn ₹256-260 per kg (excluding GST), 34 count combed cotton yarn ₹266-271 per kg, 40 count combed cotton yarn ₹277-281 per kg, 30 count carded cotton yarn ₹233-236 per kg, 34 count carded cotton yarn ₹237-242 per kg, and 40 count carded cotton yarn ₹240-246 per kg, as per TexPro.

Meanwhile, in Gujarat market, cotton prices remained stable after decline in previous trading session. Buying from spinning mills was not very supportive. The prices eased by ₹400-500 per candy of 356 kg during the last couple of days. According to traders, cotton arrival increased after fall during previous trading session due to rains. Spinning mills were cautious for new buying as they are not getting good demand from weaving industry.

In Gujarat market, Shankar-6 cotton was quoted between ₹55,500-55,600 per candy of 356 kg. Southern mills were intended to buy cotton at ₹56,000-56,200 per candy. The arrival was 30,000 bales of 170 kg in Gujarat. All India arrival was estimated at 100,000-105,000 bales of 170 kg.

Fibre2Fashion News Desk (KUL)