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Vardhman, SEL in a fix as cotton price soars

Blame hoarders for the rise; many fabric making mills have opted for blending more and more of synthetic yarn

Farmers harvest cotton in a field in Nana Viramgam village in Gujarat

Neeraj Saluja of SEL Manufacturing, a vertically integrated textile company with operations in Punjab, Madhya Pradesh and Haryana, had stocked cotton but not in enough quantity. He’s now in a fix. A rise of about 40 per cent in cotton prices over the past two months has hit both small and big spinning mills as yarn prices are up only 10-15 per cent. Many fabric making mills have opted for blending more and more of synthetic yarn, much cheaper than cotton yarn. This has aggravated the problem for cotton spinners. For Saluja, Vardhman Spinning, the Nahar group and other big ...