Tamil Nadu   

Ban on cotton exports sought

Tirupur: About 850 members of South India Hosiery Manufacturers Association (SIHMA) has started sending fax/telegrams to the Prime Minister and the Union Ministers for Textiles, Finance and Agriculture on Monday seeking a ban on cotton exports to control yarn prices.

“Unprecedented increase of yarn prices- kindly arrange to ban export of cotton,” were the words used uniformly by the member apparel manufacturing units of SIHMA in the message.

SIHMA president A C Eswaran said that the association had also sent separate memoranda to Prime Minister Manmohan Singh, Union Agriculture Minister Sharad Pawar, Union Textiles Minister Dayanidhi Maran and Union Finance Minister Pranab Mukherjee highlighting the demands.

The hosiery manufacturers were of the opinion that in the absence of restrictions on cotton exports, Indian textile mills would end up with scarcity of good quality cotton required for apparels meant for exports.

“Predictions are that cotton production is likely to drop by 5 per cent while the consumption is expected to scale up by 2 per cent due to recovery of apparel segment from the global recession,” they said.

SIHMA members further pointed out that cotton prices had increased substantially during the last few weeks owing to apprehensions of a lower crop production.

The unhealthy increase in domestic cotton prices, according to them, has resulted largely from speculation by international cotton traders.

Extending solidarity to the SIHMA, the members of Bengal Hosiery Manufacturers Association too had come forward to submit a similar memorandum to the Prime Minister demanding immediate ban on cotton exports.

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