Textile mills to reduce yarn prices by Rs 5/kg

摘要

Spinning mills, owing allegiance to the Southern India Mills Association (SIMA) have agreed to reduce the prices of hosiery yarn by Rs 5 a kg from May 1.rnThe decision, however, did not make the Tirupur knitwear cluster happy since the latter has sought a Rs 10/kg cut in the prices of cotton yarn. While half-heartedly welcoming SIMA's decision, Mr A. Sakthivel, President, Tirupur Exporters' Association, said the reduction is insufficient, considering the level of "hike in yarn price.