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Rising cotton yarn price tightens knitwear producers situation
02
Jun '10
Knitwear producers in Tirupur knitwear cluster are in a fix, as another rise in cotton yarn prices by the spinning mill owners, has come into play, since May 30.

Within the last few months, there has been a sharp increase in yarn prices, without any prior notice. This has created a difficult situation for garment manufacturers, as they are unable to fix the cost of finished goods.

Recently, the cost of 40s count yarn, which is the benchmark category for good quality yarn, has risen by Rs 10 per kilogram, thereby, increasing the price from Rs 177.09 per kg, as recorded last on May 1 to Rs 202.09 per kg. Already, since last August, the price of 40s count yarn had increased by almost 40 percent.

This new possible rise in yarn prices is most likely due to the increasing prices of cotton. But refuting these possibilities are the knitwear producers, who said that, while there existed a huge discrepancy for the increase in cotton prices, the yarn prices too, increased quite regularly.

According to A Sakthivel, President, Tirupur Exporters Association, the sudden rise in prices of yarn was not acceptable, as the spot price of Shankar-6, the widely used type of cotton, had increased by only 7.22 percent, till date.

The Central government is now sought after by the exporters to interfere and help the garments, made from Tirupur knitwear cluster, sustain price-competition in global markets.

Fibre2Fashion News Desk - India

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