Related Keywords: due to export of waste cotton, end of this month, Escalation of raw material prices, fabric manufacturers, fix waste cotton prices, hit open end spinning mills, increase in waste cotton prices, levy fifteen percent tax on export, main raw material, Open End Spinning mills, plan to stop production, powerloom units
The Open End Spinning mills plan to stop production from the end of this month with increase in prices of waste cotton, which is the main raw material for open end spinning mills.
According to the Open End Spinning Mills’ Association, the price of waste cotton has shot up to Rs 78 per kg this month. Four months ago, price of cotton waste was Rs.60 per kg when the price of cotton was Rs. 146 a kg.
Now, cotton prices have gone down to Rs. 112 a kg. But, the price of waste cotton has increased to Rs. 78 a kg mainly due to export of waste cotton.
