After cotton, now there is a tremendous boom in yarn and comber.
There is a rise in the prices of all the products related to cotton, the garment sector is facing huge losses.
With the rates of cotton touching the sky, there has been a huge increase in the prices of cotton related products. Talking about comber, its rates have increased by Rs 5 per kg in Punjab in just one day. Talking about the Khal, Karnataka has gained by Rs 50 per kg on Wednesday and yarn prices have also increased wildly in this month. In the 10 days of April, the price of yarn has increased by Rs 5 to 10 per kg. At the same time, the price of cotton wash oil has also increased by Rs 30-40 per 10 kg in the last 15 days. After cotton, due to the increase in yarn and comber, heavy losses are being expected in the garment sector.
30 percent less orders in the garment sector
Subhash Samariji, Managing Director, Prem Textile said that cotton prices are increasing uncontrollably. Neither the seller of cotton is ready to reduce its price nor is the government taking any steps to remove the import duty. As a result, orders have come down by 30 to 35 per cent in the home textile and garment sector this season. Spinning mills have already come in loss. If the prices continue to move at this fast pace, then the textile industry may have to face heavy losses.
Work has been done on the recommendation to put a brake on the rising cotton prices. We have had discussions with the finance, agri and commerce ministries. Prices will come down soon.
- Darshana Jardosh, Union Minister of State for Textiles
