In Mumbai, cotton yarn prices did not see any movement due to slower demand. Mills wanted to increase yarn prices after a rise in cotton but were facing weaker demand. A trader from the Mumbai market told Fibre2Fashion, "The textile value chain disconnected with the trend of cotton. There was no festival demand in the market. Traders and stockists have grown tired from bearing losses. They have no option but to sell their stock at lower prices. Probably, the remaining months of this year will pass on with a bearish trend in the market." 

In Mumbai, 60 carded yarn of warp and weft varieties was sold at ₹1,420-1,445 and ₹1,290-1,330 per 5 kg (excluding GST), respectively. Other prices include 60 combed warp at ₹325-330 per kg, 80 carded weft at ₹1,325-1,350 per 4.5 kg, 44/46 carded warp at ₹254-260 per kg, 40/41 carded warp at ₹242-246 per kg and 40/41 combed warp at ₹270-275 per kg, according to Fibre2Fashion's market insight tool TexPro. 

The Tiruppur market also noted stable prices in cotton yarn. It also witnessed a bearish trend in cotton yarn trade. A trader from Tiruppur told F2F, "There was no encouragement in the market because lifting was very poor from garment manufacturers. It is the right time to see better demand for cotton yarn for the coming festival season. The industry needs at least two months to prepare a garment. But there was no festival demand as of now." 

Prices in the Tiruppur market were noted as 30 count combed cotton yarn at ₹255-262 per kg (excluding GST), 34 count combed cotton yarn at ₹265-272 per kg, 40 count combed cotton yarn at ₹275-282 per kg, 30 count carded cotton yarn at ₹230-236 per kg, 34 count carded cotton yarn at ₹238-245 per kg and 40 count carded cotton yarn at ₹246-252 per kg, as per TexPro. 

In Gujarat, cotton prices continued to rise amid slower arrival and global indications. Possible delay in new arrival also supported cotton prices, which further gained ₹300-500 per candy of 356 kg. According to traders, spinners have limited stock for the remaining of the current season. Most of the mills do not have stock for more than two weeks. Heavy rains in various parts of the country can delay the new crop. Shankar-6 cotton was quoted between ₹58,500-59,000 per candy. Cotton arrival was around 7,000 bales of 170 kg in Gujarat. All India arrival was estimated at 16,000-18,000 bales of 170 kg. 

Fibre2Fashion News Desk (KUL)