INDIA: Tamil Nadu mill owners reduce yarn prices

COIMBATORE: Textile mill owners in Tamil Nadu have for a second time agreed to roll back cotton hosiery yarn prices by around 5%, thus providing temporary relief to garment exporters. This agreement was reached in the presence Union textile minister Dayanidhi Maran here.

Representatives from the Confederation of Indian Textile Industry (Citi), Apparel and Export Promotion Council (Aepc), Southern India Mills Association (Sima), Tamil Nadu Spinning Mills Association (Tasma) and Tirupur Exporters' Association (Tea) have unanimously taken this decision.

A few weeks ago, the Tirupur exporters and mill owners signed a pact to reduce yarn prices by around 5%. As the price cut was not sufficient, the exporters once again requested the minister to bring down the yarn prices further. The unprecedented rise in cotton yarn prices in the recent past has created a rift in the industry. Garment manufacturers are blaming the mill owners for a disproportionate rise in yarn prices compared to cotton costs, while mill owners point to high cost of power and labour shortages.

Early this month, the price of 40's count cotton yarn jumped to Rs 200 per kg. The rise was attributed to an increase of cotton prices last month. Tamil Nadu accounts for 47% of India's spinning capacity and it accounts for more than 40% of Indian yarn exports.

Rajendra J Hinduja, the managing director, Gokaldas Exports, told the ET only lower raw material prices can help exporters to remain competitive.

TEA president A Sakthivel added that exporters are not able to take orders due to high input costs.

Send your News/Releases for publication to [email protected]
Added: June 29, 2010 Source: Agencies
Start script - 1526816614.8486 Start news id check - 1526816614.8486 After news id check - 1526816614.849 After cookie_code - 1526816616.2418 Before news detail - 1526816616.2419 After news detail - 1526816616.2427 Start cat select - 1526816616.2428 After cat select - 1526816616.243 before preg replace - 1526816616.243 After preg replace - 1526816616.2431 Before tag engine - 1526816616.2431 After tag engine - 1526816616.2509 Before mptt engine - 1526816616.2509 After mptt engine - 1526816616.2509 Before related engine - 1526816616.251 After related engine - 1526816616.2526 Before update hits - 1526816616.2526 After update hits - 1526816616.2528 After update news_hits - 1526816616.2561 After mem_only_views - 1526816616.2561 -------------------------------------------------- Total Exec time:- 1.4075999259949
AddThis Social Bookmark Button   Tell a friendBookmark AddThis Feed Button
Related News:

Website design by InWiz • © - 2000-2018. Internet Wizards All rights reserved. About usTerms & ConditionsDisclaimerPrivacy policy • 20-05-2018