Prices of cotton products up by nearly 25 per cent
The textile industry in this region is busy for the festival season. Spinning mills and weaving units that are into cotton or silk products are seeing orders picking up.
Though there is a relatively sluggish market for cotton-based products for the last few days compared to last month, the orders for silk products are high.
Starting with Aadi sales, the season continues with festivals till January. This is usually a period of high demand. Many powerloom units get busy after Deepavali and cater to the north Indian markets too.
This year too sales have revived with the Aadi sales.
The cost of silk yarn and cocoon is usually steady during the festival season because of the demand for silk fabrics and products. This year, the rates were high compared to last year as production of cocoon was affected in other States because of deficient monsoon and production was good in Tamil Nadu. Silk weavers in this region were having good orders and demand and prices had also gone up for them.
The movement of cotton yarn was sluggish this month compared to last month. However, prices had not come down. The powerloom units in the region were, however, facing a slowdown. The textile product manufacturers had reduced the volume of yarn supplied to the job-working units and several looms were not operating for two or three days a week.
A textile trader here says demand goes up during the Aadi season and the discount orders give a boost to business. It remains sluggish for a month after that and picks up for Deepavali season. This year, with deficient rains, the rural sector was likely to be affected.
This could have an impact on festival season sales. Prices of cotton products were up by nearly 25 per cent. Cost of man-made fibre products also increased but not as high as cotton.
This was likely to affect the volume of sales this year.