Cotton yarn prices see uptrend in south India

Cotton yarn prices witnessed an uptrend in south Indian markets of Mumbai and Tiruppur this week. The prices are likely to rise further as the demand will increase from mid-January when downstream industry will start production for summer clothing. This will help spinning mills to bear additional cost of production due to higher cotton prices.

In Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,910-1,990 per 5 kg and ₹1,690-1,740 per 5 kg respectively. 80 count carded cotton yarn of weft variety was sold at ₹1,890-1,940 per 5 kg. Carded cotton yarn (46 count) of weft variety was sold at ₹1,730-1,760 per 5 kg.

In Tiruppur market, cotton yarn of 30 count combed was quoted at ₹350-360 per kg, 34 count combed at ₹360-370 per kg, and 40 count combed at ₹385-395 per kg. Cotton yarn of 30 count carded was priced at ₹325-335 per kg, 34 count carded at ₹330-335 per kg, and 40 count carded at ₹360-365 per kg, according to Fibre2Fashion’s market analysis tool TexPro.

Cotton yarn prices witnessed an uptrend in south Indian markets of Mumbai and Tiruppur this week. The prices are likely to rise further as the demand will increase from mid-January when downstream industry will start production for summer clothing. This will help spinning mills to bear additional cost of production due to higher cotton prices.

Meanwhile, ZCE cotton yarn January 2022 futures traded higher by CNY 705 at CNY 27,985 per ton and May 2022 traded higher by CNY 140 at CNY 28,395 per MT today.

ICE cotton futures edged lower on Thursday amid poor export sales data from USDA and a decline in broader markets. Cotton contract for March 2022 closed at 114.72 cents, down 156 points; May 2022 closed at 112.28 cents, down 133 points; and December 2022 closed at 93.99 cents, down 31 points.

Domestic markets witnessed upward price trend in cotton trade due to better demand from spinners and weaker supplies in mandis. In Gujarat market, price of A grade cotton was ₹73,000-74,000 per candy of 356 kg, B grade cotton ₹72,000-72,800 per candy, and average grade cotton ₹70,500-72,000 per candy. The price of cotton of the V797 variety was quoted at ₹44,500-45,000 per candy, according to TexPro.

Fibre2Fashion News Desk (KUL)