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Tuesday, 14 February 2023 12:07

Indian yarn exporters to Turkey fear the worst

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Indian businesses that export manmade fiber and spun-cotton yarns to Turkey fear the devastating earthquake there will impact supply chains and their businesses.

The disaster is going to impact Indian businesses and many will see their turnover hit.India exports synthetic and other yarns to textile manufacturing centers in Turkey, including Gaziantep and Kahramanmaras, where they get turned into carpets, formal wear and fast fashion and exported to Europe and elsewhere.

Gaziantep province was the epicenter of the first major earthquake and Kahramanmaras province was where the second struck. How many of these factories are still standing is unknown. Some textile factories are known to have been wiped out. Those that have survived are using the open end yarn to make hospital bandages and mattresses.

So the sentiment in Turkey for exports from India has clearly gone down.No one has gone back to work in the factories as there is no power.A lot of owners have left the earthquake areas and gone to stay elsewhere, so no one knows how the factories will function now.

Indian yarn exporters are slowing down production until the situation improves. As of now the situation has definitely brought pressure on yarn prices.