High yarn prices worry hosiery companies
The Cotton Corporation of Bharat (CCI) has reduced cotton costs by Rs 1,500 per candy, however this has not crystal rectifier to a discount in yarn costs. High yarn costs became a priority for hose manufacturers.
Vinod Gupta, director of dollar Industries, same presently there’s sensible demand from the export market and spinning mills square measure taking advantage of the demand-supply gap. Staple costs have raised solely by concerning half-hour, however mill homeowners have raised costs by hour,” he said.
According to Gupta, there’s a probability of spinning mills increasing costs for April by Rs 10 per kilogram despite the government urging the trade to not raise costs. Dollar Industries has already hiked costs by around Revolutionary Organization 17 November within the past few months and can be hiking costs by another 3-4% from weekday.
Rupa has hiked the costs of its merchandise by 10% KB Agarwala, MD of Rupa & Company, and president of Kolkata-based Federation of hose makers Association same spinning mills, that square measure the supply of offer of yarn for makers, square measure specializing in the export market and not fulfilling domestic demand.
“There has been a 50% rise in yarn costs and 30% rise in cotton costs. the increase in yarn costs is quite cotton. Therefore, until now, there has been a tenth increase within the costs of finished merchandise. the increase was originally meant to be over Revolutionary Organization 17 November however has not been raised to the present extent thanks to market resistance. The association has written to the government seeking a cap on the worth rise as a result of if this continues, tiny players won’t survive,” he said.