Rising cotton yarn prices in last three months have resulted in the higher prices of cotton products by 6-12%. It has ended in price rise of products like bedspreads, towels, curtains, lungies, sarees, dhoti and many other cotton related home textile.
A member of South India Mill Owners' Association (SIMA), S Dinakaran informed that cotton production was at staggering 247 lakh bales during last season.
In adequate supply of “short-staple cotton” (high quality) has caused rise in the prices of yarn by 15-20% as the stocks available in the markets were “medium-staple cotton which was not good for export items.
Another factor causing the price surge has been export of 45 lakh bales which is a jump from usual export of 10-12 lakh bales. Overall cotton textile export shot up by 28.5 percent from US$3.79 billion to US$7.87 billion.
Price hike has hit handloom and powerlooms primarily in Tamil Nadu, the epicenter of cotton textiles. Hundreds of powerloom and handloom units have started single work shift in place of three shifts they had early on.
It is expected that arrival of new cotton from states like Gujarat, Punjab and Andhra Pradesh will push down prices in the future reviving the powerloom and handloom industries in the country.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
