Abnormal rise in price of cotton yarn hits the textile industry in Karur
One kg of yarn with high counts rose to ₹400, from ₹300 and textile industry sources say the removal of import duty on yarn by the Centre has brought partial relief to the units in Tiruppur
Account subscription benefits alongside Premium Stories, Editorials, Opinions and more. Unlock these with Subscription
The View From India Looking at World Affairs from the Indian perspective.
First Day First Show News and reviews from the world of cinema and streaming.
Today's Cache Your download of the top 5 technology stories of the day.
Data Point Decoding the headlines with facts, figures, and numbers
Health Matters Ramya Kannan writes to you on getting to good health, and staying there
The Hindu On Books Books of the week, reviews, excerpts, new titles and features.
The price of cotton yarn has gone up by about 40% in the last few weeks, dealing a body blow to textile manufacturers in Karur. | Photo Credit: S. SIVA SARAVANAN
Sharp rise in the price of cotton yarn and the cascading effect on various raw materials in the wake of geopolitical tension in West Asia has hit the textile industry in Karur hard.
According to industry sources, the textile manufacturers in Karur source cotton yarn from the mills in Coimbatore, Dindigul, Virudhunagar, and Vellakoil. There is a strong mismatch between demand and supply of thicker yarn for the last six weeks, triggering sharp increase in prices by 30% to 40%. One kg of yarn with high counts is quoted at ₹400, up from ₹300. Textile manufacturers and exporters view that the price rise is highly abnormal.
Though the Centre, acting on the demand of the textile industry, has removed the import duty on cotton yarn, the players in Karur said the sops had helped the garment manufacturers in Tiruppur to an extent. The price of yarn used by the garment manufacturing units had come down to 3% to 4%. However, there was no change in the price of thicker yarn used by the textile manufacturers in Karur.
“We do not understand the reason behind the increase in price of cotton yarn. Stable price of yarn, which is a key raw material in textile manufacturing, is necessary for the smooth sailing of the industry. The current increase in cotton yarn price is unprecedented. It has hit us very hard,” says P. Gopalakrishnan, president, Karur Textile Manufacturers and Exporters Association.
He said the issue had been taken to the notice of the Centre and State governments by the Southern India Mills Association and Tamil Nadu Spinning Mills Association seeking their intervention to stabilise the yarn prices.
The players in Karur added that the geopolitical tensions between the U.S. and Iran had severely affected global trade and international shipping. As a result, the prices of many essential materials required for textile m
📌 Kaynak
Bu özet The Hindu (IN) kaynağından otomatik derlenmiştir. Tamamı için orijinal habere gidin.
Orijinal haberi oku →