Dr. A Sakthivel, Chairman of the Apparel Export Promotion Council (AEPC): High cotton yarn prices hurting apparel industry
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11 November 2021, Mumbai:
The steep rise in cotton yarn and fabric prices has started impacting the apparel industry. Apparel Exports Promotion Council (AEPC) chairman A Sakthivel, who was in Jaipur, said that the recent growth in apparel exports would be impaired if the runaway rise in yarn and cotton prices are not curbed.
Early this month, he has written a letter to textiles minister Piyush Goyal to intervene and take measures to rein in the rise in raw material prices without which there could be shortages as early as February and March next year.
"Apparel exports during the April-October have grown by 44% to $8.6 billion. In fact, the shipments have grown by double-digits in the past two months. With the peak season approaching, India has the opportunity to leverage good global demand and order position and meet the $20.03 billion export target for 2021-22," said Sakthivel.
However, the uncertainties in the cotton yarn price have created hurdles.
The industry is also facing increasing input cost pressure on other fronts in the letter to the textiles minister, Sakthivel said, "Thee in cotton yarn and fabrics prices have started impacting the entire value chain. Adding to this is the volatile crude oil price, logistics cost, coal addition to the yarn prices, the rising crude oil prices.
(The article has not been edited by DFU Publications staff)
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