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Yarn prices leave exporters in state of dismay
07
Feb '08
The local textile exporters in Karur district Tamil Nadu are already worried due to rupee appreciation. To further add to their troubles, the Government has decided to raise the prices of hank yarn up to 15 percent.

The exporters are displeased by the fact that prices of popular varieties like 10s and 2/17s and other coarse counts increased. To bring a solution to the problem Karur Textile Manufacturer Exporters' Association(KTMEA), together with other exporters are planning to meet Union Finance Minister Mr P Chidambaram.

In an exclusive interview, Mr P Gopalakrishnan, Secretary, Karur Textile Manufacturer Exporters' Association told Fibre2fashion, "There are several reasons behind the sudden increase in hank prices. Yarn manufacturers and merchants had an imaginary forecasting of high demand of certain yarn counts, from the industry, out of recently held Heimtextil trade fair.

“As demand increases prices go up. Yarn merchants and traders want to make lot of profit. Thus, when yarn prices start increasing, the exporters always want to buy their total requirement of yarn, which they may need for the existing orders. This creates demand and ultimate yarn price increase.”

The KTMEA Secretary, asserted, “Both producers and exporters are showing resentment because of this 15 percent hike in hank yarn prices. They will soon approach the Union Government and yarn manufacturers and merchants associations to take immediate action to reduce the yarn price, which has happened because of imaginary demand basis.

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