Madurai: The Madurai Spinners Association has demanded a ban on exports of cotton and cotton waste for a period of time to save the industry from its current crisis. In an appeal to the Union Government, the Association Secretary, P.S. Sivaprasad, sought the Government’s intervention to arrest the rise in prices by announcing a ban.
The textile industry is facing currently its worst phase and exports have made cotton dearer. From Rs 18,000 per candy, the rate has gone u p to Rs 21,500. However, prices in the yarn market have not commensurately gone up. The power crisis has already eroded the efficiency in production, resulting in significant loss to the industry. The depreciation of dollar has affected not only the exporters but also the manufacturers, he said in a statement here.
The textile industry is facing currently its worst phase and exports have made cotton dearer. From Rs 18,000 per candy, the rate has gone u p to Rs 21,500. However, prices in the yarn market have not commensurately gone up. The power crisis has already eroded the efficiency in production, resulting in significant loss to the industry. The depreciation of dollar has affected not only the exporters but also the manufacturers, he said in a statement here.
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