Advertise Here [468 W x 60 H pixels]
Web Exclusive | August 2016

Mills crisis in TN deepens

Textile mills in Coimbatore are in dire straits with market pundits predicting that cotton prices are unlikely to fall until the next season that starts in October. The mills are taking desperate steps like reducing production and raising prices of hosiery yarn. Though the Tamil Nadu Government does not have a role to play in cotton pricing, they say that reducing taxes as per their earlier demands will go a long way in this situation.

Domestic cotton prices, especially the preferred Shankar-6 variety, have risen from 34,000 per candy (355 kg of cotton) in April to 49,000 per candy by July-end. According to India Ratings and Research, prices of cotton are unlikely to come down till October, when the new season begins for cotton. As a result, textile mills in the state, which account for 46 per cent of the spinning capacity in the country, preferred to bring down production by 15 per cent to 20 per cent, to at least cut their losses.
Post your comment
Name:  
Email:    
Comments:  
Verification Code:   Change Image


 
Advertise Here [728 W x 90 H pixels]
Arvind Rub-Web Controls Ltd      Autotex Ancillaries Pvt Ltd      B & R Industrial Automation Pvt Ltd      Bry Air (Asia) Pvt. Ltd.      Elgi Electric and Industries Ltd      Embee Corporation      Eppinger Tooling Asia Pvt Ltd      Excel Traders      Gem Equipments Ltd      Groz-Beckert Weaving      Hongkong Trade Development Council      ITEMA WEAVING (INDIA) PVT LTD      Jogindra Industries Pvt Ltd      K.U. Sodalamuthu and Co. Pvt Ltd      Lakshmi Machine Works Ltd      Loepfe Brothers Ltd (Masterline)      Mag Solvics Pvt.Ltd      Mangal Singh Brothers Pvt Ltd      Moksha Thermoplastics Pvt. Ltd      Picanol N V      Prashant West Point Machinery Pvt. Ltd      Premier Evolvics Pvt Ltd      Rabatex Industries      Rieter India Pvt Ltd (Suessen)      Rieter India Pvt. Ltd      Savio India Ltd      Savio Texcone Pvt Ltd      Sheeba Engineering Co      Skaat Machine Works India Pvt Ltd      SMEW Textile Machinery Pvt Ltd      SRE Corporation      SSM Scharer Schweiter Mettler Ag (Rieter)      SSP Pvt Ltd      Stovec Industries Ltd      Techaids      Thies GmbH and Co.      Truetzschler India Pvt Ltd      Unitop Aquacare Evaporation and Driving System      Arvind Rub-Web Controls Ltd      Autotex Ancillaries Pvt Ltd      B & R Industrial Automation Pvt Ltd      Bry Air (Asia) Pvt. Ltd.      Elgi Electric and Industries Ltd      Embee Corporation      Eppinger Tooling Asia Pvt Ltd      Excel Traders      Gem Equipments Ltd      Groz-Beckert Weaving      Hongkong Trade Development Council      ITEMA WEAVING (INDIA) PVT LTD      Jogindra Industries Pvt Ltd      K.U. Sodalamuthu and Co. Pvt Ltd      Lakshmi Machine Works Ltd      Loepfe Brothers Ltd (Masterline)      Mag Solvics Pvt.Ltd      Mangal Singh Brothers Pvt Ltd      Moksha Thermoplastics Pvt. Ltd      Picanol N V      Prashant West Point Machinery Pvt. Ltd      Premier Evolvics Pvt Ltd      Rabatex Industries      Rieter India Pvt Ltd (Suessen)      Rieter India Pvt. Ltd      Savio India Ltd      Savio Texcone Pvt Ltd      Sheeba Engineering Co      Skaat Machine Works India Pvt Ltd      SMEW Textile Machinery Pvt Ltd      SRE Corporation      SSM Scharer Schweiter Mettler Ag (Rieter)      SSP Pvt Ltd      Stovec Industries Ltd      Techaids      Thies GmbH and Co.      Truetzschler India Pvt Ltd      Unitop Aquacare Evaporation and Driving System