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 - 1534360897.8556 Start news id check - 1534360897.8556 After news id check - 1534360897.8559 After cookie_code - 1534360898.7398 Before news detail - 1534360898.7398 After news detail - 1534360898.7406 Start cat select - 1534360898.7406 After cat select - 1534360898.7408 before preg replace - 1534360898.7408 After preg replace - 1534360898.7408 Before tag engine - 1534360898.7409 After tag engine - 1534360898.7445 Before mptt engine - 1534360898.7445 After mptt engine - 1534360898.7445 Before related engine - 1534360898.7445 After related engine - 1534360898.7454 Before update hits - 1534360898.7455 After update hits - 1534360898.7456 After update news_hits - 1534360898.7472 After mem_only_views - 1534360898.7472 -------------------------------------------------- Total Exec time:- 0.89170002937317
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 • 15-08-2018