Delhi NCR, : This is with reference to the recent webinar meeting jointly conducted by Apparel Export Promotion Council (AEPC), Confederation of Indian Textile Industry (CITI), Tamil Nadu Spinning Mills Association (TASMA), Northern India Textile Mills’ Association (NITMA), The Southern India Mills’ Association (SIMA) and other associations of yarn suppliers to stabilize the supply and price of the yarn.
AEPC Chairman Dr A Sakthivel has reviewed the prices of yarn and observed that Rs 10 per kg has been increased in the month of January whereas warp yarn price has been decreased by Rs 15 per kg. Hence, it is learnt that there is no increase in the cotton prices and the supply of cotton is also normal. Further, he said that Cotton Corporation of India has come up with a scheme that the purchaser can block the cotton by giving very nominal advance.
Further, he said that the buyers aren’t giving any raise in the prices since no country has increased the prices for Cotton Garments. Moreover, now we have observed some improvement in getting orders from Europe & USA. At this juncture, if we apply further pressure for price hike it may lead them to switch over from India to other countries who are competing with us. If the buyer replaces our country for their sourcing, then it will be very difficult to bring them back. Ultimately it will impact the garment industry and in turn sourcing of yarn will be reduced.
Hence, considering the win-win situation, AEPC Chairman appealed to the Association of Yarn Suppliers to maintain the yarn price as per December month without any increase and also ensure normal supply of Yarn to the Garment manufacturers.