Home / Knowledge / News / Textiles / Textile mills shut down to combat falling yarn prices
Textile mills shut down to combat falling yarn prices
20
Jul '15
Close to 100 textile mills that make synthetic yarn in Tamil Nadu stopped production on Saturday (July 18), as part of the decision taken at a meeting of the synthetic spinners group of Indian Texpreneurs Federation (ITF) in Coimbatore last week, according to media reports.

The move follows the decision by the ITF synthetic spinners's group's decision to shut their units during the weekend following the sharp fall in yarn prices. This was the first weekend the mills were closed following the decision.

Nearly 17 lakh spindles had stopped production. The two-day shutdown over the weekend is estimated to have cut down the supply of 17 lakh kg of yarn to the market.

Since the mills have huge stock and prices of synthetic yarn have declined, the mills are finding it unviable to continue operations. The mills are hoping that the two-day stoppages will be able to reverse the continuing fall in prices, the reports said.

Prices of 56's count polyester cotton yarn, which was ruling at Rs190 per kg (ex-mill), is now being quoted at around Rs158 per kg. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

US merchandise trade with India, 2012–16; Courtesy: USITC

Textiles | On 27th Jul 2017

India becomes US’ 9th largest trading partner in 2016

In 2016, India became the United States’ 9th-largest single-country...

Textiles | On 27th Jul 2017

GST will lead to further increase of MMF prices

The Goods & Services Tax (GST) rolled out on July 1, 2017 is not...

Textiles | On 27th Jul 2017

Global yarn production improved 30% q-o-q in Q1: ITMF

In the first quarter of 2017, global yarn production rose by almost...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X