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Yarn price hike, hampers Bengal knitting units
28
Jun '10
The hosiery industry of Bengal is affected by the abnormal price hike and fall in hosiery yarn supply. These issues have forced many units to close their shops.

Shortage of knitted fabric will take its toll on the processes such as bleaching and dyeing, cutting and tailoring units and eventually, will affect around 150,000 workers, said KB Agarwala, member of Federation of Hosiery Manufacturers' Association of India (FOHMA).

Agarwala was speaking at a press conference held to discuss the impact of price hike and less availability of hosiery yarn. The prices of hosiery yarn soared up dramatically, since November 2009. But, since 15 days, the industry is experiencing worse conditions with virtual closure of few knitting units in Bengal.

Prices of yarn which were Rs 140 per kg in October 2009 are now increased to Rs 195 per kg, recording a 40 percent growth. Along with price hike, volatility and shortage of yarn are also the major issues of concern, stated Agarwala, who observed that, these prices have increased by Rs 22 per kg since the month of April, this year.

Almost 60 percent of the country's overall hosiery market is shared by Bengal, wherein production of some knitting units has slipped by 40 to 50 percent. Various associations brought this situation under the Union and State Government authorities' view. No remedial steps have been taken as yet to solve this issue, though a quick survey has been conducted by the regional office of Textile Commissioner.

Fibre2Fashion News Desk - India

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