Fluctuating fuel prices dangerous for textile units

Fluctuating fuel prices dangerous for textile units

As per the industrialists in Coimbatore, the raw material prices are already high due to the lockdown scenario but with the rising fuel prices, raw material prices have risen further.

Coimbatore/Tirupur

As per the industrialists in Coimbatore,
the raw material prices are already high due to the lockdown scenario but with
the rising fuel prices, raw material prices have risen further. According to M
V Ramesh Babu, President, Coimbatore District Small Industries Association, the
transportation cost has gone up with the rise in fuel prices, as a large
portion of raw materials arrives from Delhi and Mumbai. The
association is left with no other option than to increase the prices of the
finished goods. He was also worried about the rise in the cost of lubricants
and he termed the daily fluctuating fuel prices a ‘slow poison’.

According to J
James, District President, Tamil Nadu Association of Cottage and Micro
Enterprises (TACT), the association is paying a double amount to suppliers for
transporting a tonne of raw materials from Mumbai to Coimbatore, as compared to
last year. He also said that with the rise in fuel prices, the cost of
transportation from Kolkata has increased from Rs 5,000 to Rs 12,000. He added
that many units have reduced the orders by 50 to 60% to manage the ongoing
situation.

As per C
Sivakumar, President, Coimbatore Tirupur District Micro and Cottage
Entrepreneurs Association (COTMA), this rise in fuel prices is taking a toll on
the industrial units. The association is forced to shell out a lot due to fuel
price hikes.

Source – The Indian Express

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Also Read:

https://indiantextilejournal.com/latest-textile-industry-news/rising-inflation-to-make-textile-items-costlier

https://indiantextilejournal.com/latest-textile-industry-news/uk-inflation-rate-doubled-due-to-hike-in-apparel-prices-

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