Tirupur: Condemning the increase in yarn price by Rs 40 a kg for all counts, the knitwear manufacturers in Tirupur will go on a strike from 16 to 21 May.
President of the federation of garment unit owners association MP Muthurathinam said, ‘Mills increased prices by Rs 50 per kilogram in November last as a result of which all kinds of yarn was sold at Rs 350 per kilogram. The Union government removed import duty and we were expecting the prices to fall. But mills have increased price by more than `40 which is a shocker.’
Demanding the Centre to ban yarn and cotton yarn exports to bring down the prices, Raja M Shanmugham, president of Tirupur Exporters Association (TEA) said cotton yarn exports to competing countries actually helped the competitors to gain an edge in exports, with their customs duty benefits in EU and Canada markets.
Knit Cloth Manufacturers’ Association president Ahill S Rathinasamy told mediapersons on Monday that over 200 knitwear manufacturers participated in a meeting held in the city to discuss the yarn price hike by textile mills.
All knitwear manufacturers’ associations and knitwear exporters from Tiruppur will participate in this strike, he said.