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Direct mills to bring down yarn prices: AEPC

  

The Apparel Export Promotion Council has requested the Ministry of Textiles to suggest the mills to bring down the yarn price by Rs 40 per kilogram. According to the Council, the increase of Rs 7,000 in the price of the cotton has caused yarn prices to reach Rs 401 in place of Rs 359

In its letter to the ministry, the council says, the cotton price per candy in October 2021 was Rs 67,000 and yarn price Rs 331. The cotton price was increased to Rs 74,000 this January -- a hike of ₹7,000, with the yarn price set at Rs 401 -- an increase of Rs 70.

The rise in the prices is not according to the formula adopted by the industry. According to its price increasing formula, for every Rs 1,000 increase in the cotton price, the yarn price will also be increased between Rs 3.50 and Rs 4. But now, with an increase of Rs 7,000 in the price of the cotton, the yarn price reached Rs, 401, says A Sakthivel, Chairman, AEPC.

The council has requested the ministry to suggest the mills to bring down the yarn price by ₹40 per kilogram.

LalitThukral, President, Noida Apparel Export Cluster (NAEC) and an executive member of AEPC, adds the total export value of the apparel sector in India is Rs 130,000 crore, of which Rs 40,000 crore revenues are generated in Uttar Pradesh alone.

Now, as the mills have been increasing the prices frequently and arbitrarily, the buyers or importers are not willing to increase the prices as well, he adds.

 
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