Apparel / Textiles & Accessories

Foreign news on February 5th, in Tiruppur, the center of knitwear in southern India, cotton yarn prices rose due to exporter demand. In the Mumbai region, however, cotton yarn prices fell by Rs 20-25 per 5kg as demand weakened in the north of the country due to cold waves. The northern region has a large number of garment factories.

In the Tirupur market, despite export demand, price gains were limited as demand from the north of the country did not support market sentiment. An experienced businessman in Tirupur said southern demand has not yet started, but the market has been supported by exporter demand. The price of 30-count cotton yarn is 370-375 rupees per kilogram, 34-count cotton yarn is 375-385 rupees, and 40-count cotton yarn is 390-400 rupees.

On the other hand, Mumbai-based traders said that the cold wave in northern India hurt local market demand. North India is a large ready-to-wear hub, with cold weather delaying summer demand. At the same time, processors and manufacturers are closely monitoring weather conditions, which will accelerate production whenever the weather improves in the north of the country.

Cotton futures on the Intercontinental Exchange (ICE) ended lower on Friday as a stronger dollar made it more expensive for overseas buyers, but prices rose for an eighth straight week on strong demand. The ICE front-month March cotton contract fell 0.88 cents to settle at 126.74 cents/lb. In Gujarat, cotton prices held steady on Friday as daily arrivals remained stable due to limited demand from cotton mills.