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Speculators to blame for yarn price plunge - APTMA
29 Apr '11
1 min read
The slump in yarn prices is mainly due to manipulation by speculators, said a spokesperson of the All Pakistan Textile Mills Association (APTMA).
He said that these speculators were exploiting the excess yarn inventory in the market.
However, yarn prices are expected to improve in the next few weeks, he added by saying.
He was hopeful that resumption of production by powerlooms and Chinese textile mills expected to start buying in the next two weeks, would increase sales of yarn in the market,.
In a meeting held this week, APTMA had agreed to allocate their share of electricity to the power-starved powerloom industry in Faisalabad.
He said that these speculators were exploiting the excess yarn inventory in the market.
However, yarn prices are expected to improve in the next few weeks, he added by saying.
He was hopeful that resumption of production by powerlooms and Chinese textile mills expected to start buying in the next two weeks, would increase sales of yarn in the market,.
In a meeting held this week, APTMA had agreed to allocate their share of electricity to the power-starved powerloom industry in Faisalabad.
Fibre2fashion News Desk - India
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