Hosiery products, manufactured from Tirupur and its neighbouring units, meant for domestic consumption became costlier by 10 per cent.
The decision to hike the price was taken at the emergency executive committee meeting of South India Hosiery Manufacturers Association (SIHMA) held here on Saturday evening.
The new rates would be applicable for entire gamut of hosiery products ranging from T-shirts, banians and ladies’ undergarments and briefs with retrospective effect for orders booked from September 1 onwards.
The decision was taken after considering various factors that led to the steep increase in production costs in the recent times.
This was the 11th increase in the prices of hosiery products since January 1, 2008, with the last hike happening in April 1, 2013. In between, the costs were reduced only once, on July 7, 2011, when the price of yarn dropped. .
President of SIHMA, A.C.Eswaran told The Hindu that the member units were left with no other option than passing on the abnormal increase in the production charges incurred due to the input, job work and logistical costs, to the consumers in order to sustain the business.