Cotton yarn prices in northern India steady despite export demand concerns
Foreign news reported on June 19 that at the beginning of this week, cotton yarn demand and prices in northern India were stable. The slowdown in demand in the first half of 2023 can be attributed to high inflation and rising interest rates in many countries around the world. Cotton yarn prices remained stable in Ludhiana, Delhi and Panipat. Traders said cotton yarn was unlikely to improve unless global demand increased. As of now, there are no positive signs in the downstream, and stockists and spinning mills are working hard to keep yarn prices stable.
Cotton yarn prices in Ludhiana are stable and demand is average. The buying interest of consumer industries and exporters has not improved. A trader in Ludhiana said: “The market does not have any positive signals in terms of purchasing. Cotton yarn prices are stable, and spinning mills are unwilling to cut prices and promote sales. They do not want to increase pressure on their own profits.”
30 count combed yarn is priced at Rs 262-272 per kg (including GST), 20 count and 25 count combed yarn is priced at Rs 252-257 per kg and 257-262 per kg Rs. 242-252 per kg for 30 count carded yarn.
Cotton yarn prices in Delhi are stable. Purchases by exporters and domestic industries remained at average levels. A trader in Delhi said: “The demand and price of cotton yarn are stable.”
The transaction price of 30-count combed yarn is 265-270 rupees per kilogram (excluding goods and services) tax), 40-count combed yarn is 290-295 rupees per kilogram, 30-count carded yarn is 237-242 rupees per kilogram, and 40-count carded yarn is 267-270 rupees per kilogram.
Panipat recycled yarn is calmer. Spinners are not cutting prices to boost sales. A trader said demand is weak and lower prices will not attract buyers.
10s recycled PC yarn (grey) trading price is 80-85 rupees per kilogram (excluding goods and services tax). 10s recycled PC yarn (black) is priced at 50-55 rupees per kilogram, 20s recycled PC yarn (grey) is 95-100 rupees per kilogram, and 30s recycled PC yarn (grey) is 140-145 rupees per kilogram. Combed yarn prices hover between Rs 130-132 per kg. Recycled polyester fiber (PET bottle fiber) price is 68-70 rupees per kilogram.
Cotton prices in northern India have remained stable at the beginning of the week. Cotton supply is limited due to low arrivals at the end of the season. Traders expect cotton trade volumes to fall further due to insufficient supply. Nonetheless, ginners will continue to sell cotton stocks. Current cotton trade concerns focus on reduced demand in the export market.
The overall cotton arrival volume in northern India on Monday was 1350-1400 bales (170 kg per bale). Cotton price per morind is 5850-5950 rupees per morund in Punjab (approximately 37.2 kg per morind), 5650-5750 rupees per morind in Haryana, 6000-6100 rupees per morind in upper Rajasthan, and 6000-6100 rupees per morind in lower Rajasthan. Kandi 55,000-56,500 rupees (each Kandi is equivalent to 356 kg).
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