Knitwear garment exporters have yet again voiced their anxiety over the ‘abnormal increase in the yarn prices’.
Stating that the garment exporters were struggling to execute the existing orders and not in a position to take future orders as they were already operating on wafer thin margins, Tirupur Exporters Association President A Sakthivel said ‘the competition is severe in the international market and our sustenance is becoming difficult because of the steep increase in the input cost.’
‘We have resolved to sit and discuss with members of both - the Tamil Nadu Spinning Mills Association (TASMA) and the Southern India Mills Association (SIMA) for a reduction in the price of cotton yarn for all counts,’ he said.
TEA has written to the Chiefs of both – SIMA and TASMA – to consider a meeting with the garment exports to discuss this issue.
Sakthivel further noted that positive factors such as softening of cotton price and the recent improvement in power position, thanks to the wind flow, would help bring down the price of cotton yarn.