Karur, Tamil Nadu
There has been more than a 60% increase in the
cotton yarn prices in just the last two months and this has negatively affected
the Karur textile exporters industry.
It is to be noted that 50% of all yarn produced
in India is from Tamil Nadu, especially from Coimbatore and Dindigul districts.
According to Atlas M Nachimuthu, President,
Karur Textile Exporters Association, there has been a sudden increase in the
demand for yarn and its export has also increased. This has led to a surge in
the prices since November 2020.
He further added that since they have already
accepted orders on a price that was based on the lower costs, their profit
margins are reducing. He requested the government to check the yarn export
process and relax the duty on cotton imports to help them handle the condition.
Small and medium textile industries, however,
blame the larger industries for hoarding yarn and selling it at higher prices
in the black market.
Source: Times of India
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