While the spinning mills had announced that the yarn price would be published once in 15 days, the spinning mills on Wednesday released the list of increase in the price of yarn. Accordingly, the spinning mills have announced an increase of Rs 10 per kg for all types of yarn.
Tirupur: Spinning mills today announced a hike of Rs 10 per kg in yarn prices.
There are more than 10,000 hosiery companies and allied job work companies operating in Tirupur. Yarn has been the most important raw material for the manufacture of hosiery.
Once the industry receives orders, they procure the yarn in bulk accordingly and make the garments. The price of garments is fixed keeping in view the price of raw materials including yarn price.
Due to frequent changes in yarn prices, there will be confusion among the industry in fixing the price of garments. In the last year, the price of yarn has been rising frequently. Therefore, the industry has been insisting on reducing the price of yarn.
In this situation, the price of yarn has come down by Rs 20 in January this year. The spinning mills had announced that the yarn prices would remain unchanged in February and will continue to be in January.
Consequently, the yarn prices for the month of March have also remained unchanged. Similarly, in April, May and June, yarn prices remained unchanged.
Yarn prices for the month of July fell by Rs 20-25 per kg. Meanwhile, the spinning mills had announced the yarn price for the current month (August) on August 1. Spinning mills announced that there was no change in the price of last month.
In this situation, the spinning mills announced that they would issue the price of the yarn twice a month, i.e. once in 15 days. Accordingly, today the spinning mills released the book price list.
All types of yarn have been increased by Rs 10 per kg. Accordingly, a kg of komdu yarn number 10 will be sold at Rs 175, number 16 at Rs 185, number 20 at Rs 243, number 24 at Rs 255, number 30 at Rs 265 and number 34 at Rs 280.
Number 40 is being sold at Rs 300, semi-commuted yarn number 20 at Rs 235 per kg, number 24 at Rs 245 per kg, number 30 at Rs 255, number 34 at Rs 270 and number 40 at Rs 290.