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Fluctuating yarn rate trouble Ludhiana producers

Jun 11, 2021
Fluctuating yarn rate trouble Ludhiana producers

Ludhiana

The textile and garment producers in Ludhiana are relieved with the easing of lockdowns but with the fluctuating rates of yarn, they are worried. Yarn is the biggest raw material in the industry. According to Radhe Shyam Ahuja, Bharatiya Vyapar Mandal, Senior Vice President, the price of yarn has increased by 64% in the last one year. The cost of each kilogram of acrylic yarn has increased by Rs 110 in the last few months. This rise in price can be seen in both PC yarn and cotton yarn. He also added that this increase in the yarn rate has affected yarn traders and the general public other than the industry itself. He also said that the industry members have warned the central and state governments about this issue hoping to get a solution soon.

As per Vinod Thapar, Chairman, Knitwear Club, there is a huge drop in the demand over the last few months due to fake production and this situation is beyond understanding. He said that the rates should have shot up which means that this is a man-made situation. The garment makers are trying to find ways to absorb the price shock and clear the stock that got piled up during the lockdown.

As per Hemant Abbi, Executive Member, Moti Nagar United Factory, the costlier yarn is a troublesome situation. As the members could not bear the losses, many of them have shifted to trading instead of manufacturing. He added that the rates of yarn are not justified and the government is also not doing anything about the same. Overall the yarn flux has become a riddle and is giving headache to the textile producers in Ludhiana.

Source – The Times Of India

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