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Related Keywords: festival season, Indorama, Leading spinners, local spinning units, man-made fabric hub, powerloom weavers, Reliance Industtries, stop purchasing yarn, Surat, Textile Industry, yarn prices reduced

Leading spinners including Reliance Industries Limited (RIL), Indorama as well as the local spinning units in and around the Surat, the country’s biggest man-made fabric hub have reduced yarn prices by almost Rs 15 per kg in different categories in the last one and a half month to encourage sale of yarn in the textile industry, but there are no takers.

The powerloom weavers in Surat have stopped purchasing yarn, the basic raw material required in the production of polyester fabrics, due to overproduction and the upcoming festival season.

Related Keywords: cotton yarn, cotton yarn price, demand for textile, EU market, fabric, festival season, garment making unit, Indian textile market, made-ups, SIMA

Although India saw demand for cotton yarn from China on a declining trend and the European Union market for fabrics and made-ups mired during the last four months. However, the demand for textiles would be picking up soon in India with the festival season just round the corner.
 
Drop in export demand for cotton yarn and the slowdown in the domestic market are only temporary and yarn manufacturers should not panic because of the “temporary slothfulness in the market, according to chairman of Southern India Mills’ Association (SIMA) T. Rajkumar.