South India's cotton yarn prices steady; buying to improve post Diwali

South India’s yarn prices remained steady amid slow trade today as buyers and sellers are preferring to stay silent till Diwali. Sellers were not interested as they feel buyers will not pay until after Diwali. Buyers also remained silent as several power looms are closed in the absence of workers. Trade sources expect demand to pick up after the festival. 

 

South India's yarn prices remained steady amid slow trade today as buyers and sellers are preferring to stay silent till Diwali. Sellers were not interested as they feel buyers will not pay until after Diwali. Buyers also remained silent as several power looms are closed in the absence of workers. Trade sources expect demand to pick up after the festival.

Mumbai market witnessed a steady trend in the cotton yarn market. “Buyers normally avoid making payments during the Diwali week as they want to ensure better liquidity at the end of the Samvat year. Prices remained steady and trade was very thin,” a trader from Mumbai market told Fibre2Fashion.

 

South India's yarn prices remained steady amid slow trade today as buyers and sellers are preferring to stay silent till Diwali. Sellers were not interested as they feel buyers will not pay until after Diwali. Buyers also remained silent as several power looms are closed in the absence of workers. Trade sources expect demand to pick up after the festival.

In Mumbai, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,650-1,690 and ₹1,590-1,650 per 5 kg (GST extra) respectively. 60 combed warp was priced at ₹375-385 per kg. 80 carded (weft) cotton yarn was sold at ₹1,580-1,630 per 4.5 kg. 44/46 count carded cotton yarn (warp) was priced at ₹320-325 per kg. 40/41 count carded cotton yarn (warp) was sold at ₹305-310 per kg and 40/41 count combed yarn (warp) was priced at ₹315-325 per kg, according to Fibre2Fashion’s market insight tool TexPro.

 

South India's yarn prices remained steady amid slow trade today as buyers and sellers are preferring to stay silent till Diwali. Sellers were not interested as they feel buyers will not pay until after Diwali. Buyers also remained silent as several power looms are closed in the absence of workers. Trade sources expect demand to pick up after the festival.

In the Tiruppur market, the same trend was witnessed in the cotton yarn prices. The intermediary product was traded at previous prices. Demand was weak but there was optimism of improvement after the festival. A trader from Tiruppur told Fibre2Fashion, “The entire textile value chain is likely to see better activities as retail sales on Diwali will not only ease payment crisis but also support higher demand.” 

 

South India's yarn prices remained steady amid slow trade today as buyers and sellers are preferring to stay silent till Diwali. Sellers were not interested as they feel buyers will not pay until after Diwali. Buyers also remained silent as several power looms are closed in the absence of workers. Trade sources expect demand to pick up after the festival.

Today, 30 count combed cotton yarn was traded at ₹315-320 per kg (GST extra), 34 count combed at ₹320-327 per kg and 40 count combed at ₹330-340 per kg in the Tiruppur market. Cotton yarn of 30 count carded was sold at ₹290-295 per kg, 34 count carded at ₹295-305 per kg and 40 count carded at ₹305-315 per kg, as per TexPro. 

 

South India's yarn prices remained steady amid slow trade today as buyers and sellers are preferring to stay silent till Diwali. Sellers were not interested as they feel buyers will not pay until after Diwali. Buyers also remained silent as several power looms are closed in the absence of workers. Trade sources expect demand to pick up after the festival.

In Gujarat, cotton prices gained ₹1,000 per candy of 356 kg in the last couple of days as arrival was stagnant and crop production may be hit due to unseasonal rains. Shankar-6 cotton was traded at ₹69,500 per candy. According to market sources, Maharashtra and south of Gujarat recorded light to heavy rains at the time of harvesting. Low production estimate also supported cotton prices. Seed cotton increased from ₹1,750 to ₹1,800 per 20 kg. Daily cotton arrival reduced to 10,000-11,000 bales of 170 kg each.