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Powerlooms in Indian state to halt night-shift production
09 Sep '13
1 min read
More than 700,000 powerlooms in Tamil Nadu, a state in southern India, will stop production during the 12-hour night shift from September 10, 2013, onwards.
The decision to stop production during the 8 p.m.-8 a.m. shift has been taken to protest against the rising cotton and yarn prices, MS Mathivanan, president of the Federation of Powerloom Associations of India, told reporters in Erode.
Mr. Mathivanan said the rise in prices of raw cotton and cotton yarn in the last two months has spelt trouble to the textile industry and the export of cotton from the country should be banned to control the escalating prices.
He said the prices of raw cotton have increased from Rs. 39,000 per candy of 356 kg to about Rs. 55,000 a candy, over the last two months.
He attributed the rise in prices to an 8 percent increase in exports of raw cotton and yarn, due to depreciation of Indian currency against the US dollar.
India has already exported 12.5 million kg of yarn this year, compared to last year’s exports of 11.5 million kg.
Fibre2fashion News Desk - India
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