Knitwear exporters from Tirupur cluster have made a frantic appeal to the spinning mills not to increase the cotton yarn prices any further taking into consideration the recent dip in the cotton prices.
In a letter written by Tirupur Exporters Association to Southern India Mills Association, it has been pointed out that since the cotton prices had come down by Rs. 2,000 per candy, the reports of mills showing inclination to further increase the prices would only affect garment exports.
“Already, the cost of yarns in India when compared to the rates prevailing in our main garment export competitors like China has been very high. The mills here should also understand that when the end products become costlier, it will affect the garment exports which in turn, will boomerang on the survival of spinning mills too in the long run”, pointed out A. Sakthivel, president of Tirupur Exporters Association.
The exporters wanted the various trade associations representing the spinning mills to immediately advice their member units, to refrain from increasing the yarn prices from the present slabs.
