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Karur exporters struggle with high cotton yarn prices

May 01, 2021
Karur exporters struggle with high cotton yarn prices

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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