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Probe yarn prices to prevent supply chain imbalance

Jun 26, 2021
Probe yarn prices to prevent supply chain imbalance

New Delhi

The supply chain imbalance can be prevented by a probe into the sudden spike in cotton yarn prices, according to The Apparel Export Promotion Council (AEPC). As per A. Sakthivel, Chairman, AEPC, the commission is happy that the Textile Commissioner's office has been advised to find the reason behind the spike in the price of cotton due to which the entire industry is suffering.  He also said that the commission will support the third-party study with respect to the spike in cotton yarn prices.

As per Smriti Irani, Textiles Minister, the ministry will work with the textile commission to find solutions for the overall interest of the industry. She also said that there is a need to go for a third-party study of the sudden rise in cotton yarn prices which further affects the entire value chain of Indian textiles. She also said that the time is such that the government cannot let plenty of people suffer for the benefit of only a few. She is hopeful that with the help of statistical study, some forensic details can be traced by the textile commissioner’s office.

Sakthivel is of the opinion that if necessary steps are taken, the steep increase and unpredictability in the availability of cotton and yarn can be curbed. This will also prevent the hampering of the industry’s order book.

Source – Daiji World

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