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Textile mills to stop sales, delivery of yarns for a week
12
Aug '15
There is more trouble for the textile industry in south India. About 500 mills affiliated to South India Spinners Association (SISPA) have decided not to sell or deliver yarns for one week from third week of this month to avoid the traders from creating a situation to source yarn at lower prices.

SISPA president C Varatharajan told mediapersons in Combatore that the decision which is applicable only for this month, was taken at an emergency meeting to discuss the crisis facing the entire textiles industry.

Varatharajan accused some yarn traders of taking undue advantage by quoting less prices for certain varieties of yarns, triggering a panic situation to source yarns at lower prices which affected mills' revenues.

Additionally, all member mills have agreed to a one-day production stoppage, to force the Centre and state governments to take notice of the difficulties faced by industry and to extend appropriate support through policy decisions to the textile industry The exact date of the one-day stoppage will be announced in consultation with other associations.

The SISPA president said there is a need for change in functioning of Cotton Corporation of India (CCI). He claimed the CCI is now functioning with a profit motive, supplying cotton to large traders and middlemen while depriving mills, the actual consumers of cotton, availability of the materials at fair prices.

The spinners are finding it difficult to sell at profitable prices due to frequent fluctuations in cotton prices, yarn price depreciation due to piling up of stocks caused by the closure of dyeing units in certain North Indian processing centres, high cotton prices and inconsistent polyester fibre supplies, Varatharajan said.

One of the reasons for the difficulties faced by spinning mills was inconsistent textile policies of the central government, he said, and requested the government to frame an industry-friendly policy. (SH)

Fibre2Fashion News Desk – India

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