Chennai . This time the textile mills of Tamil Nadu are hopeful that the prices of cotton yarn will come down. Cotton yarn prices are to be announced in May.
In Tamil Nadu, the current cotton yarn price of all varieties is Rs 400 per kg.
Traders expect cotton yarn prices to come down this time as cotton production has been good in the state this year.
Cotton consignments from Dindigul, Tiruchi, Erode and Coimbatore districts of the state have started arriving at Mulanur cotton market in Tirunur district.
Senior official of this market M Dinakaran told -AnyTV News that more than ten thousand cotton bags have arrived in the market in the last few days. Each bag contains 30 to 40 kg of cotton. The arrival of such a large quantity of cotton in the market shows that the prices of cotton will come down. This will give a boost to the textile industry.
He said that in the same period last year, only seven to eight thousand bags had reached the Mulanoor market in a week.
Usually the arrival of cotton in the market starts in May or June, but this year the arrival has started from April 1. Farmers have increased the area under cotton cultivation due to the possibility of good rains.
Tiruppur Exporters Association official Raja Shangugam told -AnyTV News that the arrival of cotton in good quantity in April is a good sign for the textile industry. The central government has removed the duty from cotton, due to which the arrival has increased. If the textile industry will have a good quantity of raw materials, then the whole industry will develop.
—AnyTV News
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