TIRUPPUR: The price of cotton yarn used for knitwear production in Tiruppur increased by Rs 7 per kg on Saturday.
According to industry sources, due to the prevailing war situation has led to a continued rise in the price of cotton yarn.
The yarn price increased by Rs 7 per kg at the end of February and by another Rs 7 per kg in mid-March. Subsequently, on April 1, the price of yarn increased by Rs 10 per kg. Then, on April 16, the price of yarn rose again by Rs 10 per kg.
In this environment, on Saturday, the price of cotton yarn used for knitwear production increased by another Rs 7 per kg. For example, the price of 20s combed yarn has increased from Rs 285 to Rs 292 per kg.
As a result, the price of cotton yarn has risen by up to Rs 41 per kg so far this year.
"The continuous rise in yarn prices is a cause for concern. The central government should take note of the continued rise in cotton prices," said MP Muthurathnam, President of Tiruppur Exporters and Manufacturers Association.
S Saravanan, Core Committee Member of Tiruppur Yarn Manufacturers Association, said, "On Saturday, only a few specific mills have raised yarn prices. The price of a candy of cotton (356 kg) in India was Rs 67,000. At the same time, in the international market, it was Rs 73,000. It is likely to rise further."
