Hosiery traders worried as yarn price skyrockets

Shivani Bhakoo

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Tribune News Service

Ludhiana, August 30

Hosiery manufacturers in the city are perturbed over the ever increasing prices of yarn.

Yarn rates, which were around Rs255 till January, have reached Rs400 per kilogram. The dealers said the “cartel” in yarn industry needs to be taken care of by the government else manufacturers would continue to suffer unnecessarily, losing orders from both domestic and overseas markets.

While talking to The Tribune, Sanju Dhir, member Knit and Fab Industry, said many manufacturers in the city were losing orders because the prices of yarn had touched the roof. Within six months, the prices have almost doubled.

“The buyers are not ready to listen to our arguments. They ask us to provide the product on earlier reasonable prices, which is impossible. We do realise that it will be difficult for a buyer to bear the sudden increase in prices, but we are helpless. Many of us are losing orders as buyers are not ready to listen to our genuine reason that yarn rates have increased,” Dhir said.

Many hosiery manufacturers protested against the “cartel” of yarn dealers and owners. Under the banner of For Arm Welfare Organisation, they burnt the effigy of yarn dealers/ owners of yarn manufacturers. Varun Malhotra from the organisation said dealers and mill (yarn) owners were hand in glove with each other and targeting hosiery manufacturers.

“The hosiery manufacturers will be forced to shut units, if the prices of yarn are not controlled. Hosiery manufacturers need to raise their voice against this monopoly of yarn dealers and manufacturers,” said Malhotra.

The hosiery manufacturers are trying to meet Member of Parliament Ravneet Singh Bittu on this issue. President of Knit and Fab Industry Vipan Vinayak said orders were taken earlier and now, prices have been increased and it had become too difficult to execute the orders on previous rates.

“If we do not execute, we will lose customers and labour will be dispersed. It is too difficult to call labour again for the execution of orders once they leave and if we continue, we will bear losses as buyers have given orders on previous yarn rates. We are in a dilemma,” said Vinayak.

City holds first Yarn, Fabric and Accessory show 

Ludhiana: The Yarn Fabric and Accessories Show (YFA) marked its beginning at Dana Mandi, Bahadurke Road, on Thursday, giving all hosiery manufacturers and people associated with the industry an opportunity to upgrade their knowledge under one roof. The expo is aimed at redefining the way fibre, yarn, fabric and apparel accessories are sourced and bring renowned suppliers from these four segments closer to buyers and also offer buyers a one-stop place to source all their requirements.Renowned and major textile companies such as Reliance Industries Limited, Indorama Synthetics India Limited, Aditya Birla Grasim (Liva), Oswal Woollen Mills Ltd, Vardhman Textiles Ltd, Garg Acrylics Ltd, Kudu Knit Fab, Perfect Filaments Ltd, Filatex India Limited, Bhilosa Industries Pvt. Ltd, RSWM Limited, Sanathan Textiles Pvt Ltd, Siyaram Silk Mills Ltd, JB Ecotex LLP, J Korin, Sutlej Textiles and Industries Ltd, Aditya Birla Raysil, Kautilya Industries Pvt Ltd, Arisudana Industries Limited, GTN Engineering India Limited, Perfect Filaments Ltd, Lenzing AG India, Alkey Synthetics Pvt Ltd, Jingletex Development Co Ltd from Taiwan among others exhibited at the Ludhiana’s first ever exhibition of fibres, yarns, fabrics and accessories with a support from various associations of the industry. Organisers Abhishek Sharma and Ankur Goel said being the first ever exhibition of its kind, the response on the first day was quite overwhelming with more than 500 visitors. They said the expo would provide an opportunity to yarn and fibre industry and boost technical as well as marketing upgrade of the industry to a great extent. They said: “Our aim is to bring producers of world class and multiple varieties of value added fibres, yarns, fabrics and also garment accessories closer to the end users in Ludhiana and its surrounding areas including Panipat, Amritsar, Chandigarh, Ambala and Jalandhar among other places through YFA 2018.” — TNS