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Cotton yarn price rise due to demand from garment sector

Nov 26, 2021
Cotton yarn price rise due to demand from garment sector

According to Maj Gen OP Gulia, CEO, SVP Global Ventures, prices of superior quality yarns 40 CWC and 60 CWC have increased to Rs 405 a kg from Rs 330 and Rs 500 from Rs 415, respectively, in the past three months.

Domestic prices have galloped in line with the global trend due to lower production and supplies. On the Intercontinental Exchange, December futures were settled at 119.22 US cents a pound (Rs 71,950 a candy).

According to Rajkot-based Anand Poppat, a trader in raw cotton, yarn and cotton waste, 30 counts CCH yarn, used by the hosiery units, is currently at Rs 340-345 a kg.

Yarn prices have kept pace with the rise in cotton prices. However, the Confederation of Indian Textile Industry (CITI) told the Centre, while pleading against any government intervention to tackle surging prices, that Shankar-6 cotton prices have increased 80 per cent since October last year, but 40s count hosiery yarn rates have gone up only by 58 per cent during the period.

Again, while the prices of Dharwad cotton hybrid (DCH), a popular variety in South India, have risen 126 per cent, 80s count yarn has increased by 38 per cent only, CITI said.

Last week, Union Commerce and Industry Minister Piyush Goyal, in a meeting with stakeholders of the cotton textile sector, asked all concerned to work with a “give and take” policy. However, he made it clear that the Centre would prefer cotton growers to enjoy the current good prices they were getting.

Image Source: Google Images

Source: The Hindu Business Line

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