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Cotton yarn rates to be announced in May, TN Textile mills expect reduced prices

- April 28, 2022

Chennai, April 28 (BPNS)

The Textile mills in Tamil Nadu are expecting a reduced price for Cotton yarn that is to be announced in May. Presently the price of Cotton yarn in Tamil Nadu for all varieties is in the range of Rs 400 per kilogram. The traders and industry is expecting a reduced price as the production of Cotton is high in Tamil Nadu when compared to the same period the previous year.

The Cotton bags have started arriving at the Mulanur cotton market in Tiruppur district from various parts of the state like Dindigul, Tiruchi, Erode, and Coimbatore. M. Dinakaran, senior superintendent of Mulanur cotton market while speaking to BPNS said, “ In the past few days more than 10,000 bags of cotton has arrived in the Mulanur market. Each bag contains 30 to 40 kg of cotton and the arrival of cotton in huge volume is expected to reduce the price of yarn which will give a big boost to the textile industry .”

He said that during the same period last year, only 7000- 8000 bags arrived in the Mulanur cotton market in a week.

Generally, cotton arrival commences from May –June months but this year the cotton has started arriving from  April 1 and with good rains, farmers have started cultivating cotton in good volumes.

Raja Shanmugham, Tiruppur Exporters Association (TEA) while speaking to BPNS said, “ Arrival of good volumes in April is a good sign for the industry and with the central government removing duty for cotton, the arrival has increased. The industry will have a good volume of raw materials and the whole industry is buoyed up.”

With Cotton coming in huge volumes, the price of Cotton yarn is expected to fall from the present Rs 400 per kilogram and the reduced prices will boost the production.