Related Keywords: Low cotton prices, mills to cut down yarn production
In Tamil Nadu, most of textile mills have cut down yarn production by 30-40% due to drop in cotton prices and the cotton prices was in the range of Rs. 50,000 per candy.
As the end-season prices almost reaching Rs 50,000, there was no point in continuing normal production, as the prices of yarn were not matching the higher cost of production, putting the mills into heavy loss, industry sources said.
