Cotton yarn prices go up in Tiruppur due to export demand

 

Tiruppur : 04 Feb 2022:  Prices of cotton yarn increased in the south Indian knitwear hub of Tiruppur due to demand from exporters. Yarn prices slipped by Rs 20-25 per 5 kg in Mumbai due to weakened demand from north India which is in the grip of a cold wave. There are a large number of garment manufacturers in the northern part of the country.

 

2. While there was demand In Tiruppur market, for export, the price rise was limited as north India’s demand did not support market sentiments. Southern demand is yet to begin but the market is getting support from exporters demand.

 

3. Cotton yarn of 30 count combed was traded in Tiruppur at Rs 370-375 per kg, 34 count combed at Rs 375-385 per kg and 40 count combed at Rs 390-400 per kg. Cotton yarn of 30 count carded was sold at Rs 320-330 per kg, 34 count carded at Rs 335-345 per kg and 40 count carded at Rs 350-360 per kg. 

 

 

4. The North India’s cold wave has dampened demand in the local Mumbai market. North India is a large apparel and garment hub. The cold wave has delayed summer demand. Meanwhile, processors and manufacturers are watching weather conditions very closely and will ramp up their production only when the weather improves in north India.

 

5. In the Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded down by Rs 20-30 at Rs 1930-1990 per 5 kg and Rs 1670-1730 per 5 kg respectively. 80 count carded cotton yarn of weft variety was sold at Rs 1860-1900 per 4.5 kg with a loss of Rs 20. Carded cotton yarn (44/46 count) of warp variety was traded down by Rs 30 at Rs 1720-1740 per 5 kg.

 

6. ICE cotton futures scaled higher on Thursday as the dollar fell, after USDA’s weekly export sales report outlined stronger purchasing activity from top consumer China. Cotton contract for March 2022 closed at 127.62 cents, up 129 points; May 2022 closed at 124.73 cents, up 170 points; December 2022 closed at 103.88 cents, up 93 points.

 

7. Cotton prices were stable in the markets of Gujarat on Friday amid limited demand from mills, while daily arrivals remained steady. 29 mm cotton was traded at Rs 77,500-78,000 per candy of 356 kg each. A grade cotton was sold at Rs 77,500-78,000, B grade at Rs 76,000-77,000 and average grade cotton at Rs 73,000- 74,000 per candy.