Apparel manufacturers have urged the mill owners to cut yarn price by Rs. 20 per kg as there has been reduction in cotton prices by about Rs. 2,500 per candy in the last two months.
Dr. A. Sakthivel, Chairman, Apparel Export Promotion Council (AEPC), has written a letter to Confederation of Indian Textile Industry (CITI) and SIMA, Coimbatore; NITMA, Chandigarh; TASMA, Dindigul.
He said, “We have requested all the mill owners to bring down the yarn price by Rs. 20 per kg with immediate effect.”
It is pertinent to mention here that Cotton Corporation of India (CCI) had reduced cotton prices by around Rs. 1,500 per candy earlier on Monday.
CITI Chairman was not available to comment on the next step to be taken by mills.
It is worth noting that since last four months Indian apparel manufacturers have been facing steep hike in raw material price. Time and again, they have requested the Government and the mill owners to control the yarn price.
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