New fiscal year likely to improve cotton market in North India

New Delhi, Mar 28 (KNN) The cotton market in North India may see recovery from next month as the demand will improve from the downstream industry in the next fortnight, reported Fibre2Fashion.

Currently the cotton market in North India continues to face pressure due to lower demand from the downstream industry.

Major cotton yarn markets like Mumbai and Ludhiana have reported a gradual easing of prices.

But by next month the traders expect the demand to increase.

Sentiments in India's largest home furnishing hub Panipat are also weak.

The decline in export demand, which has fallen to around 60 per cent compared to the same period last year, is a major concern. 

“The market may face sluggish demand till the first week of the next month, but the demand will improve from the downstream industry in the next fortnight. Usually, buying improves in the first month of the new fiscal,” a trader from Ludhiana market told Fibre2Fashion.  (KNN Bureau)