AEPC urges mill owners to cut yarn prices by Rs 20

The Apparel Export Promotion Council (AEPC) on Wednesday urged cotton mill owners to cut yarn prices by Rs 20 per kg to support the growth of the sector as rising rates impact cost competitiveness. AEPC Chairman A Sakthivel's request comes in the wake of Cotton Corporation of India (CCI) reducing cotton prices by around Rs 1,500 per candy earlier on Monday.

"I am requesting all the mill owners to bring down the yarn price by Rs 20 per kg with immediate effect," Sakthivel said in his in his letter to Confederation of Indian Textile Industry (CITI) Chairman T Rajkumar. In the last two months, cotton prices have come down by Rs 2,500 per candy, he said.

Sakthivel has requested all the mill owners' associations to reduce the yarn price for protecting the apparel export industry. "Cotton yarn prices have consistently increased in the last four months," he added.