Cotton prices in northern India fall, downstream demand is seasonally low
Foreign news on October 31, since Diwali trading, cotton prices in northern India have fallen by 400-450 rupees per moend (37.2 kg). The price of cotton in Punjab is 6100-6200 rupees, Haryana 6100-6200 rupees and upper Rajasthan 6200-6250 rupees. The price of cotton per kandi (356 kg) in Rajasthan is 61,000-62,000 rupees.
According to traders, the fall in cotton prices is due to the seasonal trend of low demand in the spinning industry. Cotton arrivals are still limited as farmers are not interested in current prices. Higher prices in the previous year raised their expectations. The amount of cotton arriving in this area is about 14,000-15,000 bales.
Cotton yarn prices
Cotton yarn prices fall in northern India after Diwali Emotions remain weak. Cotton yarn prices fell by Rs 10-15 per kg in Ludhiana and Delhi due to fall in cotton prices and lack of demand. In northern India, cotton prices fell by Rs 300-350 per morund. Panipat recycled yarn is also witnessing a bearish trend despite the possibility of supply disruption.
Insufficient demand from the textile industry and falling cotton prices have pushed yarn prices down in the Ludhiana market. Gulshan Jain, a dealer in Ludhiana market, said, “The market still lacks confidence, but buyers have confidence in the bottom line of cotton yarn prices. The entire textile value chain needs to buy at suitable prices so that they can ensure the supply of raw materials throughout the year.”
In Ludhiana, 30-count combed cotton yarn sells for 300-310 rupees per kilogram (including excise tax). The price of 20-count and 25-count combed cotton yarn is 290-300 rupees and 295-305 rupees. Prices of 30-count carded cotton yarn remained stable at Rs 275-285 per kg.
In Delhi, buyers and sellers are waiting for an improvement in buying demand from downstream sectors, which remains weak. The main variety of cotton yarn fell by 5 rupees per kilogram. A dealer in the Delhi market said, “The market is facing a lack of confidence. Buyers are waiting for a breakthrough in buying throughout the value chain. The arrival of new crops and falling prices will encourage buyers to replenish inventories.”
In Delhi, the trading price of 30-count combed cotton yarn is 295-300 rupees per kilogram (excluding GST), the trading price of 40-count combed cotton yarn is 325-330 rupees per kilogram, and the trading price of 30-count carded cotton yarn is 275-300 rupees per kilogram. 280 rupees, 40-count carded cotton yarn is trading at 310-315 rupees per kilogram.
There is a downward trend in some varieties of Panipat recycled yarn market. However, most varieties still maintain their previous prices. 10 count recycled yarn (white) is trading at Rs 100-105 per kg (excluding GST). 10-count recycled yarn (dyed-high quality) is trading at Rs 110-115 per kg, and 10-count recycled yarn (dyed-low quality) is trading at Rs 80-85 per kg. 30 count recycled yarn costs 155-160 rupees.
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