(MENAFN- KNN India)
Textile value chain in wait and watch mode for cotton yarn price to drop
New Delhi, Dec 6 (KNN) Exercising wait and watch mode, traders in North India are anticipating for the prices of raw materials such as cotton yarn to fall and are also avoiding bulk buying.
Yarn prices declined in Delhi as weaving industry was cautious about buying. Panipat's recycled yarn was stable, but cotton comber and recycled fibre eased, reported Fibre2Fashion.
There was a low demand for cotton yarn from domestic and export markets in Delhi while for most of the counts and varieties cotton yarn eased by Rs 5 per kg.
In the Delhi market, 30 count combed yarn was traded at Rs 290-295 per kg (GST extra), 40 count combed at Rs 320-325 per kg, 30 count carded at Rs 270-275 per kg and 40 count carded at Rs 305-310 per kg, according to
Fibre2Fashion's market insight tool TexPro.
“Every linkage of the textile value chain remained in the wait and watch mode. They are waiting for raw materials prices to go down. Buyers are only buying yarn to fulfil their immediate needs,” a Delhi-based trader told Fibre2Fashion.
In Ludhiana, mills and traders were following the wait and watch approach resulting into steady cotton yarn prices in the market.
Muted demand from the garment industry is not supporting the current cotton prices. Cotton was traded at Rs 6,550-6,625 per maund in Punjab, Rs 6,450-6,550 per maund in Haryana and Rs 6,700-6,750 per maund in upper Rajasthan and Rs 64,000-67,000 per candy of 356 kg in lower Rajasthan.
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.