Ban yarn exports till prices stabilise: Tirupur knitwear units
COIMBATORE: The knitwear hub of Tirupur district suffered a whopping production loss of more than Rs 300 crore on Friday due to a strike by textile firms against abnormal increase in prices of yarn.
As many as 117 stakeholders involved in textile production, including dyeing units, exporters and trade unions resorted to strike condemning the Centre for failing to control yarn prices.
“The price of yarn has increased by Rs 120 to Rs 150 per kg in the last one year alone. It has resulted in yarn prices soaring up to Rs 350 per kg. We took to protest after the Centre too turned a blind eye to our demands to curb price hike,” said Tiruppur Exporters and Manufacturers’ Association (TEAMA) president MP Muthurathinam.
Following the protest call, more than 80 per cent of firms involved in textile production and their allied units remained shut resulting in a production loss of Rs 300 crore. Also, most of the shops selling textile products remained closed in the city.
In addition to the strike, a large number of exporters, local manufacturers, trade union members and members of political parties observed a day-long sit-in hunger protest in front of the Corporation office.
The sharp increase in yarn prices has ruined the livelihood of 13 lakh people dependent on the textile business. “The government should immediately ban any cotton or cotton yarn exports till yarn prices stabilise. Also hoarding of yarn to create an artificial price rise should be cracked down,” added Muthurathinam.
The powerloom manufacturers, who have also stopped production against yarn price hike, submitted a petition to district administration authorities claiming that more than one lakh power loom units in Palladam and surrounding areas in Tirupur were affected and sought government’s intervention to find a permanent solution to their problem.