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Varying yarn prices cause chaos in value-added sector
15
Oct '10
There has been growing uncertainty in the global market, particularly in the cotton trade. Yarn prices have been varying every now and then and have currently touched the mark of 1.6 dollar per pound. The existing situation in the yarn market is likely to create a chaos in the value-added industry like the previous year.

The spinners have been altering the quoted prices of yarn after every 20 minutes interval. This practice has been adopted on the pretext of global hike in cotton prices. Under such circumstances, the existence of the knitted as well as woven garment manufacturing units also appears to be challenging.

The value-added exporters of Pakistan are expected to be in more trouble as a result of the entry right offered by the European Union for yarn exports. Yarn and gray textiles have been permitted to enter the EU market under tariff concessions.

Fluctuations in yarn prices are likely to create a challenging situation for the value-added sector and the sector might even have to face problems of growing cost of investment, shortage of electricity, etc.

Fibre2fashion News Desk-India

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