The Tamil Nadu Fabrics Manufacturers’ Association has requested governments to take measures to regulate yarn prices and export of yarn until domestic needs are met.
The association said that prices of yarn have increased by 30-45% and fabric manufacturers are suffering from order cancellation and low margins due to the hike. A. Alagarasan, president Tamil Nadu Fabrics Manufacturers’ Association, demanded that the State and Central governments should take measures to regulate export of yarn as its shortage has led to hike in production costs.
The manufacturers lamented that they are unable to compete with countries like China, Bangladesh and Vietnam in terms of price and are facing challenges in export. The association said that they are unable to get new orders.
The association demanded that the raw material must not be exported until needs of domestic market is met and urged governments to take necessary action in this regard.
