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High yarn price: A worry for Indian apparel

The recent high yarn price has left various leading exporters, trade bodies and other stakeholders in a vulnerable situation in South India. All the stakeholders are in discussions/virtual meetings to mitigate the situation.

Fortunately, these efforts are yielding some positive results.

Figure: In South India, stakeholders are on their toes to overcome the challenge of high yarn price and lot of virtual meetings/discussions are taking place in this regard.

At a virtual meet organized by AEPC with Gujarat Spinners Association members, Tirupur will now get support from the association. Gujarat Spinners Association will supply yarn to apparel manufacturers of Tirupur.

Saurin Parikh, President, Gujarat Spinners Association, said in the last 20-25 days prices had reduced and many countries, excluding Bangladesh, stopped importing from India.

Tirupur consumes around 30 to 40 percent of total knitting yarn produced in India.

Spinning mills of Gujarat were also invited to tap the prospect in Tirupur and join hands with knitwear exporters of this apparel hub for joint sustainable growth.

For last few days, there has been lot of hue and cry in Tirupur as few mills/their traders have improved the yarn price in April also, while it was decided in a meeting that there will be no hike in yarn price during the April month.

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