Due to ease in demand and average buying, prices of cotton yarn in south India have remained steady.  Traders in Tiruppur and Mumbai noted that demand has weakened and that there has been no movement in the prices of cotton yarn. The market is expected to remain range-bound and spinners based in Tamil Nadu will review the prices for next month.

Weaker demand has been noted in Mumbai with a trader being quoted as saying, “The recent rise in cotton fabrics has led to lower demand from the garment industry, and buyers are turning to hand-to-mouth purchases as they expect prices to decrease.”

 

In a similar fashion, the market in Tiruppur has noted the stability in prices, with buying for exports being better but demand from the downstream industry remaining weak. Cotton yarn buying has eased recently, said trade sources, but the situation is better than last month.

 

Trade sources in Gujarat noted that the market is not suffering under any pressure and that the cotton has been sold at near-previous levels. Aggressive buying from exporters and large manufacturing companies have absorbed higher arrivals of cotton. In India, cotton arrival was estimated to be around 1.6 lakh bales of 170 kg while the Gujarat market noted an arrival of 40,000 bales.

 

Published On : 01-03-2023

 

Source : Apparel Resources