India Tamil Nadu Reduces 5% Knitting Yarn Price

On Thursday, India federal textile minister marang said the owner of India's Tamil Nadu textile factory agreed to the second time.

A few weeks ago, Rupp and his factory owners signed an agreement to cut yarn prices by about 5%.

As the price cut is not enough, the exporter asked the minister to continue to reduce the yarn price.

The price of cotton yarn has increased unprecedentedly, resulting in industrial cracks.

Garment manufacturers blame spinning mills for the rise in yarn prices compared to cotton prices, while the spinning owners point out that the cost of electricity is too high and labor is tight.

At the beginning of this month, the price of 40s cotton yarn rose to 200 rupees / kg.

The reason is that cotton prices rose last month.

Tamil Nadu accounted for 47% of India's spinning capacity, accounting for more than 40% of India's cotton yarn exports.

Supplement:

The textile industry in Pakistan is on the brink of collapse. The shortage of yarn supply has led to the closure of several value-added textile factories.

In order to save the endangered industries, the industry has realized that it is necessary to work out a joint strategy.

At a meeting with representatives of the spinning department last week, garment manufacturers withdrew their earlier request to raise the export duty on yarn, which they now hope to take.

Akber Sheikh, former chairman of the Pakistan Textile Mills Association (APTMA) in Punjab, said that tariff adjustments could not be applied to yarn exported to China because the free trade agreement signed by both sides was not allowed to do so.

About 60-70% of Pakistan's yarn is exported to China.

Because yarn prices are closely related to cotton, it is difficult to control yarn prices.

On the contrary, yarn prices rose from 760 /10 in 2009 to 1260 rupees in April 2010, because the price of cotton rose from 3350 rupees to 6700 rupees / maund in 2009.

However, yarn prices are rising far below cotton prices.

After the government implemented the yarn quota, spinning enterprises had to stop importing cotton from the international market.

In addition, farmers are opposed to the implementation of yarn quotas because they are worried that their spinning enterprises will consume less.

In addition, farmers support the free market economy, because in the past, the free market economy helped them benefit from higher international prices.

They also support free import and export yarn and require free import and export of cotton.