Textile exporters asks buyers to increase prices as raw material costs rise

Knitwear exporters from Tirupur have asked buyers to increase prices against the backdrop of rising raw material costs.

Raja M Shanmugham, president, Tirupur Exporters Association, said that there ws an urgent need to hike the prices of knitwear products for Tirupur's exports to sustain and face the challenging business environment prevailing for the past four months.

The textile town in Tamil Nadu exports products worth about Rs 27,000 crore.

After the central government increased the minimum support price for cotton (kappas) procured from farmers, lint (ginned cotton) prices have risen from Rs 36,016/candy (355.54 kgs) in August 2020 to Rs 46,720/candy in March