With power cuts gone, mills should reduce yarn prices:TEA

With power cuts being lifted from June first, it was time for the spinning mills to revise their yarn pricing strategy, Tirupur Exporters Association said today.
Since it was mentioned that the increased cost of power was the reason, apart from cotton prices, for increase of yarn prices, TEA president, A Shakthivel appealed to the apex bodies of spinning mills in the region, Southern India Mills Association and Tamil Nadu Spinning Mills Association, to reduce the prices of yarn, considering the mutual growth of both garment and spinning sectors.
In identical letters to the associations, Shakthivel, appealed to them to advise the member mills to reduce the yarn price by Rs 10 per kg for all counts as the availability of power at all times has given a cushion to textile mills against the increasing power cut.