As many as 82 textile mills that make synthetic yarn in the State stopped production on Saturday, as part of the decision taken at a meeting of the synthetic spinners group of Indian Texpreneurs Federation here recently.
According to Naresh Devaraj, co-ordinator of the group, nearly 17 lakh spindles had stopped production. By not operating the units on Saturday and Sunday, supply of nearly 10 lakh kg of yarn to the market will come down.
The mills had decided to do so as prices for synthetic yarn had fallen sharply in the last five months. The workers in these mills took up maintenance and pending work on Saturday.
The units were located in different parts of the State – Coimbatore, Dindigul, Udumalpet, Pallipalayam, etc. Since the mills have huge stock and prices of synthetic yarn have declined, the mills are finding it unviable to continue operations. There is no improvement in the situation and prices have not improved, he said.
Database
The mills have also started building a database of the daily prices. The group plans to organise a buyer-seller meet soon in the key markets for synthetic yarn in the country, including Ichalkaranji, Bhiwandi and Bhilwara, he said.
Indian Texpreneurs Federation had decided to stop production for two days a week for a month
