Cotton yarn market looking up
After a slump for almost six months, the cotton yarn market here has started looking up.“Enquiries are increasing in the domestic market,” said an industry source.In the best of times, the pick rate in the powerloom centres in the district used to be 25 or 26 paise a pick. It declined to 18 or 19 paise in the last six months. Now, it has revived to 21 paise a pick. Even in the northern States, especially in Maharashtra, the powerloom centres were said to be doing well, added a Southern India Mills’ Association representative. At least 60 per cent of yarn produced in this region was sold to the powerloom centres in the north.With the Deepavali season just a couple of months away and the export orders also increasing, the demand for yarn was looking up. During the last few months, the mills used to have two months stock due to the dull market. Now, the stocks had also started declining.The mills expected the yarn prices to go up shortly since the demand has started increasing.“The yarn market has started reviving only during the last 10 days. So it will reflect on the price only in the coming days,” added the representative.
