Though cotton yarn prices remained stable in the South Indian market, the buying did not pick up despite the fact the traders were receiving higher export enquiries.
The sentiments in the South Indian yarn market remained steady in Mumbai, there were no sales in Tiruppur due to Pongal celebrations.
The 60-count carded yarn of warp and weft varieties were sold at INR1560 and INR1440-1490 per kg in the Mumbai cotton market.
Combed yarn of 60 counts was traded at INR340-350 per kg. Similarly, prices of all other counts remained stable.
Tiruppur market witnessed almost no trade because buyers and sellers were absent from the market due to the Pongal festival. The trade may resume tomorrow.
Cotton prices improved in Gujarat this week to INR62000-62500 per candy of 356kg. However, the cotton arrivals did not improve as per the demand of the textile mills and exporters. After a while, the ginners received a better response from both the textile mills as well as exporters. Traders expect that the export demand is likely to increase. Seed cotton in Gujarat was traded at INR 1720-1740 per 20 kg.
