Full closure in Tirupur on 26th condemning yarn price rise
2021-11-23 10:58:21
Full closure in Tirupur on 26th condemning yarn price rise
Coimbatore: The price of yarn has risen by over 130 rupees since last January. The price of yarn, which was Rs.220 per kg, is now over Rs.350. There has also been an environment where yarn is available on a waiting basis by booking. Exports, domestic knitwear and textile production is severely affected due to the continuous rise in prices and exporters have suffered huge losses.
The reason for the increase in yarn prices is said to be artificial shortage due to export and hoarding of raw materials like cotton. Therefore, a resolution was passed on behalf of the Tirupur Exporters and Manufacturers Association at an emergency consultation meeting in Tirupur. At the meeting it was decided that to slip into a complete shutdown and a hunger strike on the 26th, condemning the rise in yarn prices and calling for a ban on the export of raw materials such as cotton.
