Home / Knowledge / News / Textiles / TEA urges textile mills not to increase yarn prices
TEA urges textile mills not to increase yarn prices
02
Jul '18
TEA urges textile mills not to increase yarn prices
The Tiruppur Exporters’ Association (TEA) has urged the textile mills to not to increase the cotton yarn prices and also not to stop cotton yarn supply. The ₹20 per kg increase in cotton yarn price in June 2018 has pushed the knitwear garment export sector into a difficult situation, making it difficult to sustain in the competitive global environment. 

“The knitwear export sector has been passing through a challenging business environment further to implementation of GST and this could be apparently witnessed from the continuous declining of knitwear exports on a month-on-month basis since October 2017, after three months transition period is over and the declining of exports for the second half yearly period of 2017-18 was 21 per cent,” TEA president Raja M Shanmugham said in a press release.

“The most worrying factor is that the negative trend in exports growth is continuing in the current financial year also and the average decline of knitwear exports in the month of April and May was 34 per cent,” he added.

The knitwear sector has now started receiving the orders after a prolonged one year lull, and increase in yarn prices at this point of time would derail the industry, Shanmugham said. “The aftermath effect would be severe as not only the knitwear garment sector will get affected but also there will be a boomerang effect on the textile mills.”

Shanmugham has already met Union minister of textiles Smriti Irani and requested to mandate the Cotton Corporation of India (CCI) to ensure availability of sufficient quantity with desired quality cotton to protect the interest of farmers, textile industry and also employment.

The increase in cotton prices has made the textile mills to increase the yarn prices which ultimately affect the downstream value added sectors like weaving, knitting, garmenting, madeups etc., particularly value added exporters as they could not revise the price upwards immediately as the prices were fixed more than three to five months ago. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Messe Frankfurt

Textiles | On 16th Jun 2019

Finished products to dominate at Intertextile Shanghai

Finished product suppliers will dominate with their presence among...

Pic: CBRE

Textiles | On 16th Jun 2019

23% of warehouse leasing in India in 2018 for e-com: CBRE

Warehousing space leasing in India rose by over 45 per cent in 2018...

Pic: Amazon

E-commerce | On 16th Jun 2019

Amazon invests ₹2800 cr in India after closing China ops

Amazon has made a fresh investment of ₹2,800 crore in its Indian arm, ...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Sustainable fashion is also ‘slow fashion’

Amit Jain, Shingora Textiles Ltd

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Rahul Bhadani, Looksgud

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Jash Choraria,

Jash Choraria

Established in 2015 by <b>Jash Choraria</b>, Unifynd is a Mumbai-based...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports &amp; Exports Co is a manufacturer and...

Apurva Kothari,

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

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

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

Leave your Comments


June 2019

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

news category


Related Categories:

Advanced Search



Expand Close