Home / Knowledge / News / Textiles / Spinning mills should reduce production for 60 days: ITF
Spinning mills should reduce production for 60 days: ITF
11
Sep '17
Spinning mills have been advised by the Indian Texpreneurs Federation (ITF) to reduce yarn production by 35 per cent for two months to minimize loss and stabilise cotton and yarn prices. ITF members were issued an advisory recently to reduce production with immediate effect and to avoid buying cotton to minimise the impact of financial loss.

Yarn prices are down due to demand-supply imbalance and the current price disparity of yarn and cotton has resulted in severe losses for standalone spinning mills, ITF secretary Prabhu Dhamodharan said in a press release.

Mills in Tamil Nadu, a big player in textile manufacturing, consume more than 30 per cent of cotton and synthetic fibres and a slowdown in production for the next 60 days will automatically stabilise yarn prices by reducing the yarn market supply , he said.

Reducing cotton consumption will also make cotton prices reduce to a realistic level in the next season, Dhamodaran added.

ITF has also advised the mills to retain the workforce and pay wages even without regular work and engage them in annual maintenance activities and impart new training to improve productivity.

ITF took the decision after a study that found that many industries, including cement, steel and broiler, are optimising their production levels based on market intelligence and minimising the impact of their financials during the demand downtrends. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Top executives
Textile industry

The foremost issue is bridging the skill gap

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search