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Tamil Nadu
Rise in yarn price fails to cheer spinning industry
M. Gunasekaran
It has affected knitwear exporters who are trying to bring down cost of production It has not helped spinning industry as cotton prices too are on the rise
TIRUPUR: The marginal rise in the price of yarn has failed to cheer spinning industry, as cotton prices have gone up sharply in the last couple of days.
Appreciating rupee
Spinning sector of this region, which has been facing tremendous hardship with drop in yarn prices and spiralling cotton prices for the last six months since the fall of dollar against rupee, has got a little breather with the increase in price of yarn by Rs. 3 a kg last month.
Subsequently, the industry raised the price by Rs. 4 a kg with gradual increase in off-take by hosiery units around Tirupur.
The yarn price stood at Rs.108 a kg for 20 counts and Rs.112 a kg for 24s, industry sources said. The price of 30s was fixed at Rs.121 a kg and Rs.130 a kg for 40s.
The increase in prices has off-set loses incurred by the mills because of increase in production cost.Added to it, is the unscheduled power cuts.
The increase in yarn price, however, affected the knitwear exporters, who are concentrating on cutting production cost to overcome the crisis faced by them in the wake of rupee appreciation.
The price rise neither made the spinning mills happy.
Sharp rise
“Cotton prices are shooting up for the last couple of days. In the last three days cotton price rose by Rs.1,000 a candy (356 kg bag). Whatever we get from the rise in yarn price is offset by the rise in price of cotton,” according to A.P. Appukutty, president of Tamil Nadu Spinning Mills Association.
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