The Apparel Export Promotion Council (AEPC) on Monday urged cotton mill owners to cut yarn prices by ₹20 per kg following reduction in cotton prices by about ₹2,500 per candy in the last two months.
“I am requesting all the mill owners to bring down the yarn price by ₹20 per kg with immediate effect,” said A Sakthivel, Chairman, AEPC, in a statement.
AEPC’s request comes soon after Cotton Corporation of India reduced cotton prices by around ₹1,500 per candy earlier on Monday.
“I bring to your kind notice that in the last two months cotton prices have come down by ₹2,500 per candy including today’s reduction,” Sakthivel said in his letter.