The seven lakh powerlooms in Tamil Nadu will stop production during the 12-hour night shift from September 10, to protest against increasing cotton and yarn prices and also demanding ban on cotton export, a senior representative of Federation of Powerloom Associations of India has said.
The textile industry is in doldrums due to the escalation of raw cotton and cotton yarn prices in two months, MS Mathivanan, Federation President, told reporters yesterday.
To compound the woes,the rupee value has also depreciated against the USD. He appealed to the Union Government to ban export of raw cotton and yarn immediately. He said within two months, prices of raw cotton price has increased from Rs 39,000 to Rs 55,000 for candy (356 kilogram weight). Mathivanan said in India 340 lakh bales of cotton was produced and 100 lakh bales were exported, which is ten per cent higher than last year export.
Now restrictions over cotton export have been abolished, so soon more quantity of cotton would be exported when the local spinners face problems, he said.
Cotton and yarn prices have increased by 15 to 20% now."Due to the fall in value of Indian currency against the US Dollar, export of raw cotton and yarn has gone up by 8%." Last year 115 lakh kilogram yarn was exported and this year 125 lakh kilogram of yarn has already been exported.
To register their protest, he said production of textiles would be stopped for 12 hours a day (one shift 8pm-8am) from September 10.