Foreign news on November 16 showed that the prices of polyester-cotton (PC) and polyester-cotton yarn in the Indian domestic market have fallen due to sluggish demand forcing sellers to cut prices. Polyester and polyester yarn prices have fallen by Rs 3-8 per kg in the past few days.
Trade sources said the slightly improved demand seen last week was unsustainable, causing polyester-cotton and polyester-cotton yarn prices to fall. The price reduction of raw materials has also driven down the price of yarn. “There are no buyers in the market. Recent reports showing a sharp decline in textile and apparel prices in India also give a bearish sign,” said a Ludhiana trader.
Polyester-cotton and polyester-cotton yarn prices fell by Rs 5-8 per kg in Ludhiana and Rs 3-5 in Surat.
In Ludhiana, 30-count polyester-cotton combed yarn is sold at 210-220 rupees per kilogram (including consumption tax), and 30-count polyester-cotton combed yarn is sold at Rs. Rs 180-185 per kg.
In Surat, Gujarat, the price of 30-count polyester-cotton yarn is 137-138 rupees per kilogram (excluding consumption tax), and the 40-count polyester-cotton yarn is quoted at 145-147 rupees per kilogram.
Cotton prices in northern India rose again after falling yesterday. A weaker U.S. dollar supported gains in ICE cotton futures. High-priced purchases by multinational companies are also supporting cotton prices, according to local traders. In northern India, cotton arrived in 20,000 bales of 170 kilograms each. Cotton prices increased by Rs 150-200 per morund (37.2 kg) last week.
