SEARCH

Continuous rise in cotton yarn prices worries weavers

Staff Reporter
print   ·   T  T  

The prices of yarn register 20 per cent increase in the recent past

Over 60 per cent of the yarn produced in the country is being consumed by the units in the StateAbout 50 per cent of the units in Erode region have already stopped their operations due to power crisis
Over 60 per cent of the yarn produced in the country is being consumed by the units in the StateAbout 50 per cent of the units in Erode region have already stopped their operations due to power crisis

The weaving industry in Erode region has expressed serious concern over the continuous rise in the cotton yarn prices.

The industry, which is already under severe stress due to power crisis and slump in orders, is finding it difficult to the stay competitive in the market as the prices of yarn registered a 20 per cent increase in the recent past.

The prices of 20s and 40s count yarn, which were used by a majority of the power loom units in the region, witnessed a 30 per cent increase when compared the prices two months ago.

“We are fast losing our competitive edge in the fabric market due to the rise in the yarn prices. The power loom units are suffering heavy loses,” Confederation of Indian Weaving Industries President M. S. Mathivanan said.

The State has over five lakh powerlooms, which provide employment to a large number of people. About 60 per cent of the yarn produced in the country is being consumed by the units in the State.

“About 50 per cent of the units in Erode region have already stopped their operations due to the power crisis and slump in orders. Many of the units that are functioning now will also be forced to close if the prices continued to go up,” he said.

The weavers in the country would lose the orders to their counterparts in Pakistan, Indonesia and China, if the prices were not controlled immediately, he added.

Mr. Mathivanan wanted the government to ban the export of cotton yarn and stop speculative trading of cotton. “Only a few traders are benefited due to the export of the cotton.

The farmers are not receiving the benefits of the price rise. They are getting just the minimum support price announced by the government,” he pointed out.


  • Over 60 per cent of the yarn produced in the country is being consumed by the units in the State

  • About 50 per cent of the units in Erode region have already stopped their operations due to power crisis


  • More In: TAMIL NADU | NATIONAL

    O
    P
    E
    N

    close

    Recent Article in TAMIL NADU

    Hudhud to impact AP revenue collection

    Apart from the devastation wreaked by Hudhud cyclone in Visakhapatam city and north Andhra districts, the Andhra Pradesh government is wo... »