Cotton yarn trade unaffected by long-term provisions of Indian budget

Foreign news on February 2 that cotton yarn in northern India was not affected by the 2023/24 federal budget announced yesterday. Traders said there were no major announcements in the budget for the textile industry and termed the government initiatives as long-term measures that would not affect yarn prices. Cotton yarn prices remained stable today due to moderate demand.

In Delhi, cotton yarn prices also did not see any change after the budget announcement. A trader in Delhi said: “There are no provisions in the budget that will have a direct impact on the yarn market. India’s finance minister announced a special scheme for extra long lint (ELS). But it will take several years to have an impact on cotton yarn prices.” and dynamics have an impact.”

According to Fibre2Fashion’s market insight tool TexPro, in Delhi, the price of 30-count combed yarn is 280-285 rupees per kilogram (extra consumption tax), 40-count combed yarn costs 310-315 rupees per kg, 30-count carded yarn costs 255-260 rupees per kg, and 40-count carded yarn costs 280-285 rupees per kg.

Cotton yarn prices in Ludhiana have remained stable since the last week of January. Demand is moderate due to downturn trends in the value chain. A trader from Ludhiana said buyers are not interested in new deals. If prices fall back after arrivals increase, it may attract buyers to make new deals. In Ludhiana, 30-count combed yarn is priced at Rs 280-290 per kg (including excise duty), 20-count and 25-count combed yarn at Rs 270-280 per kg and Rs 275-285 per kg. According to TexPro data, the price of 30-count carded yarn is stable at 260-270 rupees per kilogram.

Panipat recycled yarn remained stable as consumer purchases did not improve due to seasonal effects.

10 count recycled yarn (white) is trading at Rs 88-90 per kg (GST extra), 10 count recycled yarn (color-high quality) is trading at Rs 105 per kg – Rs 110, 10 count recycled yarn (color-low quality) Rs 80-85 per kg, 20 count recycled PC color (high quality) Rs 110-115 per kg, 30 count recycled PC dyed (high quality) Rs 145-150 per kg Rupees, 10-count optical yarn is 100-110 rupees per kilogram.

The price of combed cotton is 150-155 rupees per kilogram. Recycled polyester fiber (PET bottle fiber) is Rs 82-84 per kg.

North Indian cotton trade is also largely unaffected by budgetary provisions. The arrival volume is average and the price is stable.

According to traders, the number of cotton arrivals has reduced to 11,500 bales (170 kg each), but if the weather remains sunny, the arrival volume may increase in the next few days. Increase.

Punjab cotton price is 6225-6350 rupees/Mond, Haryana 6225-6325 rupees/Mond, Upper Rajasthan 6425-6525 rupees/Mond End, lower Rajasthan 60000-61800 rupees/kandi (356 kg).

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