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Cotton Price Rise Hits Downstream Units |
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2003-11-5
The sharp rise in raw cotton prices in the last few weeks has caused a cascading effect on the downstream textile manufacturing chain.
Spinning mills have followed suit hiking yarn rates across the board, putting weavers in a dilemma on yarn indenting for their current month needs.
Weavers in major powerloom centres in Tamil Nadu say they have been greeted with a hike of 15-20 per cent in the prices of warp and weft yarns through successive increases made by the yarn producers in a span of one month. The prices of hosiery yarn too have witnessed similar sharp hikes this month. Besides the spurt in raw cotton price, good export enquiry for Indian yarn in the past two weeks have also sparked off the current price spiral in the cotton yarn market.
The spinners, powerloom industry sources said, had gone about
increasing the yarn price by Rs 8 to 10 per kg for the November delivery.
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