Tiruppur, Coimbatore Textile Production to Be Halved
Sakthivel later told presspersons, "Over the past three weeks, yarn prices have increased by about ₹30 per kilogram, amounting to a 20 percent hike.
Tiruppur: Textile production in Tiruppur and Coimbatore would be reduced by 50 per cent from Wednesday due to increase in yarn prices, Sakthivel, Coordinator of the Tiruppur and Coimbatore Textile Manufacturers Association said on Tuesday after a meeting of the Tiruppur and Coimbatore Textile Manufacturers Association at Palladam. The meeting was presided over by Coordinator Sakthivel.
Sakthivel later told presspersons, "Over the past three weeks, yarn prices have increased by about ₹30 per kilogram, amounting to a 20 percent hike. As this price increase cannot be directly passed on to fabric prices, fabrics cannot be sold, resulting in a stockpile of unsold fabrics worth Rs 100 crore. This has raised doubts about trade credibility and has adversely affected business."
Due to this situation, textile manufacturers who supply warp yarn to power looms and receive woven fabric in return will implement a 50 percent reduction in production starting Wednesday, he said.
In order to ensure that workers are not affected, operations would be run on a part-time basis. The normal daily production of one crore metres of fabric would now be reduced by half. "When good-quality cotton is being sold at ₹160 per kilogram, it is unacceptable that cotton waste is being sold for as high as ₹130 per kilogram,” he added.
