In Tilpur, the price of cotton yarn fell by up to £ 12 per kg after buyers turned back. The continued decline in cotton prices has caused a panic in the market. Traders and stockers rushed to make a profit for fear of increased yarn price losses... Purusottam Parmanandka of Kesharinandan Knit Fabrics, a trading company based in Tilpur, said Fiber2Fashion“The market has been panicked and yarn prices have fallen sharply. Only when prices are stable will buyers be able to return to the market in July.”
In today’s Mumbai and Tiruppur South Indian yarn markets, cotton yarn prices have fallen by up to £ 12 per kg due to a panic-like situation due to falling cotton prices. The buyer put the purchase on hold because he feared that the prices of cotton and yarn would fall further. However, traders expect buying to improve next month after prices stabilize.
In the tilpuru market, cotton thread prices have fallen by £ 3-12 per kg without buyers. 30 counts of combed cotton yarn traded at £ 390-395 per kg (additional GST), 34 counts traded at £ 407-412 per kg, and 40 counts traded at £ 415-420 per kg. According to the report, 30-count cotton cards were sold at 350-353 pounds per kg, 34-count cotton cards at 355-358 pounds per kg, and 40-count cotton cards at 360-362 pounds per kg. Fibre2 Fashion’s market insight tool TexPro.
The price of cotton yarn has also fallen in the Mumbai market. Prices fell £ 3-7 per kg as buyers remained absent. Buyers were reluctant to buy new yarns, fearing further drops in yarn prices, according to trade sources. Buyers, traders and millers were under pressure as falling prices could increase losses. So they wanted to clean up or reduce their inventory.
In the Mumbai market, 60 counts of warp and weft were traded at £ 1,930-1,980 and £ 1,850-1,900 (additional GST) per 5 kg, respectively. The warp type worsted cotton yarn (44/46 counts) traded at 1,825-1,850 pounds per 5 kg. The 80-count worsted cotton yarn of the warp and weft variety sold for 1,880 to 1,920 pounds per 4.5 kg. 40 counts of worsted cotton thread (warp) sold for £ 348-355 per kg. The price of 40-count combed yarn (warp) ranged from 402 to 417 pounds per kg. TexPro.
In Gujarat, traders said the spinning mills were least interested in buying cotton because of the panic of further price drops. The transferred transaction was agreed on a November delivery of less than £ 77,000 per 356 kg candy. Spot prices have also dropped from £ 97,000 to £ 99,000 per candy to £ 93,000 to £ 95,000 per candy.
Fiber2Fashion News Desk (KUL)
Falling cotton prices cause panic in South Indian yarn market
Source link Falling cotton prices cause panic in South Indian yarn market