The Mumbai market witnessed steadiness in cotton yarn prices amid slow demand from weavers. However, there was optimism regarding a revival of demand from the Bangladeshi garment industry. A trader from Mumbai told Fibre2Fashion, "The formation of a new government in Bangladesh is good news for the textile industry. It will bring confidence to industries to resume their operations, which will be a good sign for the Indian textile industry.” The industry had to halt production due to the crisis in the country.

In Mumbai, 60 carded yarn of warp and weft varieties were sold at ₹1,330-1,370 (approximately $15.84-$16.32) and ₹1,180-1,260 per 5 kg (approximately $14.06-$15.01) (excluding GST), respectively. Other prices include 60 combed warp at ₹314-318 (approximately $3.74-$3.79) per kg, 80 carded weft at ₹1,270-1,310 (approximately $15.13-$15.61) per 4.5 kg, 44/46 carded warp at ₹242-258 (approximately $2.88-$3.07) per kg, 40/41 carded warp at ₹238-246 (approximately $2.84-$2.93) per kg and 40/41 combed warp at ₹278-283 (approximately $3.31-$3.37) per kg, according to trade sources.

The Tiruppur market noted a decline of ₹2 per kg in 30-count combed yarn due to slow demand. However, most other varieties and counts traded steadily in the market. Trade sources reported that the market did not see any significant improvement in cotton yarn demand or manufacturing activities in the downstream industry. Nonetheless, the latest developments in Bangladesh have raised hopes for an earlier-than-expected revival of manufacturing activities. The sudden halt in shipments to Bangladesh was another blow to the Indian yarn and fabric industry, which supplies raw material for the garment industry.

In Tiruppur, knitting cotton yarn prices were noted as 30 count combed cotton yarn at ₹260-268 (approximately $3.12-3.19) per kg (excluding GST), 34 count combed cotton yarn at ₹272-277 (approximately $3.24-3.30) per kg, 40 count combed cotton yarn at ₹285-290 (approximately $3.39-3.45) per kg, 30 count carded cotton yarn at ₹237-244 (approximately $2.82-2.91) per kg, 34 count carded cotton yarn at ₹244-248 (approximately $2.91-2.95) per kg and 40 count carded cotton yarn at ₹248-254 (approximately $2.95-3.03) per kg.

In Gujarat, cotton prices also maintained previous levels as there was a mismatch between buyer and seller prices. Although ICE cotton experienced a downtrend yesterday, it recovered today after buying at a lower level. However, Indian cotton prices sometimes take a different direction based on their own dynamics.

Cotton arrivals were recorded at 2,000-3,000 bales of 170 kg in Gujarat, with all-India arrivals estimated at 9,000-10,000 bales. The benchmark Shankar-6 cotton was quoted between ₹57,000-57,500 (approximately $679.00-$684.96) per candy of 356 kg, while southern mills were looking to buy cotton at ₹57,500-58,000 (approximately $684.96-$690.91) per candy.

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)