In the weaving heartland of South India, where every thread tells a tale, a current lull has descended upon the cotton yarn markets and the non-woven material suppliers have been experiencing the same. Despite the impending festivities of Pongal, a festival deeply intertwined with textile traditions, the demand for cotton yarn remains notably low. What’s more intriguing is the unwavering stability in yarn prices, even in the absence of the usual flurry of activity from traders and sellers.
The catalyst for this unexpected equilibrium seems to be multifaceted, with the recent budget of 2023-2024 playing a role in shaping the current landscape. The steadiness observed in cities like Mumbai and Tirupur signals a resilience beyond conventional market forces.
The Highly Active Markets
Mumbai, a bustling metropolis, and a significant player in the textile industry, paints a picture of a market holding its ground despite the challenges. Even a small online fabric store in India is also seeing moderate to high activity. The demand for cotton yarn, already weakened by the budget, remained steady after the announcement. In this dynamic city, 60% of the carded cotton, intricately woven with various varieties, was traded at an average of 5 kg bundles, each carrying an added GST.
As per market reports and fabric suppliers, the pricing for 60 Yarn in Mumbai ranged between Rs. 345 and Rs. 350 per bundle. At the higher end, prices soared to Rs.1470-1490 per 4.5 kgs. Notably, there were approximately 262-268 per kg units available in the market, selling at Rs.290-293 per kg. This stability, against the backdrop of budget uncertainties, indicates a market that is adapting to the challenges with a resilient stride.
South India’s Hotspot
Tirupur, another key player in the cotton yarn industry, resonates with a similar narrative. The cotton yarn sales in Tirupur have been muted, with new deals in the market contributing to this hushed atmosphere. The remnants of this downstream market quietude are expected to linger until mid-March when the demand for clothing traditionally experiences an upswing.
In Tiruppur, recent transactions, including buying cotton fabric online, pegged the price of cotton yarn at Rs.280-285 per kg, including additional GST. For a 30-count yarn, the pricing hovered around Rs.255-260 per kg, while the 34-count carded variant stood at Rs.265-270 per kg. Despite these challenges, Tiruppur remains an integral part of the intricate textile tapestry of South India, contributing to the overall stability of the cotton yarn market.
Staying Steady Amidst the Lull
In analyzing this unique scenario, it becomes evident that the steadiness in yarn prices is not solely a consequence of market forces but also a reflection of strategic responses from industry stakeholders. The weaving industry’s ability to weather uncertainties, be it the unfavorable budget or the muted demand ahead of Pongal, underscores the resilience ingrained in the very fabric of South India’s textile tradition.
As we navigate this period of relative calm, it is crucial to recognize the adaptability and foresight displayed by market participants. The stability in cotton yarn prices, even in the absence of traders and sellers in the market, paints a picture of an industry that is not just reactive but proactive in its approach. In conclusion, the yarn markets of South India are not just weathering the storm; they are weaving a story of resilience, adaptability, and strategic resilience.
As Pongal approaches, the cotton yarn market stands as a testament to the enduring strength of threads that bind tradition and commerce in the rich tapestry of South India. But with TEXchange Global, a digital revolution backing the textile industry, we are confident that our robust network of buyers and traders can withstand the testing times of the textile industry and keep it alive and bustling. Join us now and be a part of the exciting evolution of the textile industry.