02 Feb '23
(Fibre2Fashion News Desk (KUL): North India’s cotton yarn market remained unaffected by the Union Budget 2023-24 announced yesterday. Traders said that there were no big announcements in the budget for the textile sector and termed government’s initiatives as long-term measures which cannot influence yarn prices. Cotton yarn prices remained stable today amid average demand.
In Delhi too, cotton yarn prices did not witness any movement after the budget. “There were no provisions in the budget which could have immediate influence on the yarn market. Finance minister has announced a special initiative for the Extra Long Staple (ELS) cotton. But it will take years before this could have an impact on cotton yarn prices and dynamics,” a trader from Delhi market told Fibre2Fashion.
In Delhi, 30 count combed yarn was traded at ₹280-285 per kg (GST extra), 40 count combed at ₹310-315 per kg, 30 count carded at ₹255-260 per kg and 40 count carded at ₹280-285 per kg, according to Fibre2Fashion’s market insight tool TexPro.
Cotton yarn prices have remained stable in Ludhiana since the last week of January. Demand was average because of the sluggish trend in the value chain. A trader from Ludhiana said that the buyers were not interested in new deals. If prices ease down after increase in arrival, buyers may be attracted to make fresh deals. In Ludhiana, 30 count cotton combed yarn was sold at ₹280-290 per kg (GST inclusive), 20 and 25 count combed yarn were traded at ₹270-280 per kg and ₹275-285 per kg respectively. Carded yarn of 30 count was steady at ₹260-270 per kg, as per TexPro.
Panipat’s recycled yarn market was stable as consumer buying is not improving due to the seasonal impact. 10s recycled yarn (white) was traded at ₹88-90 per kg (GST extra). 10s recycled yarn (coloured - high quality) was traded at ₹105-110 per kg, 10s recycled yarn (coloured - low quality) at ₹80-85 per kg and 20s recycled PC coloured (high quality) at ₹110-115 per kg.
30 recycled PC coloured (high quality) was priced at ₹145-150 per kg and 10s optical yarn was priced at ₹100-110 per kg. Comber prices were noted at ₹150-155 per kg and recycled polyester fibre (PET bottle fibre) was priced at ₹82-84 per kg.
North India’s cotton trade was also largely unaffected by budget provisions. The prices were steady amid average arrival. According to the traders, cotton arrival reduced to just 11,500 bales of 170 kg but may increase in the next few days if weather remains clear. Cotton was traded at ₹6,225-6,350 per maund in Punjab, ₹6,225-6,325 per maund in Haryana and ₹6,425-6,525 per maund in upper Rajasthan and at ₹60,000-61,800 per candy of 356 kg in lower Rajasthan.