The cotton yarn market in southern India has been facing serious concerns about reduced demand. Some traders reported panic in the market, making it difficult to determine current prices. The price of Mumbai cotton yarn has generally dropped by 3-5 rupees per kilogram. The fabric prices in the western Indian market have also decreased. However, the Tirupur market in southern India has maintained a stable trend, despite a slowdown in demand. As the lack of buyers continues to affect the two markets, prices are likely to fall further.
The sluggish demand in the textile industry further exacerbates market concerns. Fabric prices have also decreased, reflecting the sluggish sentiment of the entire textile value chain. A trader in the Mumbai market said, “There is a sense of panic in the market due to uncertainty about how to respond to this situation. Cotton prices are falling because in the current situation, no one is willing to buy cotton
In Mumbai, the transaction price for 60 roving warp and weft yarns is 1460-1490 rupees and 1320-1360 rupees per 5 kilograms (excluding consumption tax). 60 combed warp yarns per kilogram of 340-345 rupees, 80 coarse weft yarns per 4.5 kilograms of 1410-1450 rupees, 44/46 combed warp yarns per kilogram of 268-272 rupees, 40/41 combed warp yarns per kilogram of 252-262 rupees, and 40/41 combed warp yarns per kilogram of 275-280 rupees.
The cotton yarn prices in the Tirupur market remain stable, but due to the decline in cotton prices and sluggish demand in the textile industry, prices may decline. The recent decline in cotton prices has brought some comfort to spinning mills, allowing them to minimize losses and potentially reach a breakeven point. A trader in the Tirupur market said, “Traders have not lowered prices in the past few days as they try to maintain profits. However, cheaper cotton may lead to a decrease in yarn prices. Buyers are still unwilling to make further purchases
In Tirupur, 30 counts of combed cotton yarn are 266-272 rupees per kilogram (excluding consumption tax), 34 counts of combed cotton yarn are 277-283 rupees per kilogram, 40 counts of combed cotton yarn are 287-294 rupees per kilogram, 30 counts of combed cotton yarn are 242 246 rupees per kilogram, 34 counts of combed cotton yarn are 249-254 rupees per kilogram, and 40 counts of combed cotton yarn are 253-260 rupees per kilogram.
In Gubang, global market sentiment is poor and demand from spinning mills is sluggish, leading to a significant decline in cotton prices. In the past few days, cotton prices have decreased by 1000 to 1500 rupees per field (356 kilograms). Traders said that although prices may continue to decline, they are not expected to significantly decrease. If prices continue to decline, textile mills may make purchases. The transaction price of cotton is 56000-56500 rupees per 356 kilograms. It is estimated that the arrival volume of cotton in Gubang is 22000 to 22000 packages (170 kilograms per package), and the estimated arrival volume of cotton in India is about 80000 to 90000 packages.
Post time: May-31-2023