AEPC urges govt to put restrictions on cotton yarn exports – News 24-7 Live News 24-7 Live
AEPC urges govt to put restrictions on cotton yarn exports

AEPC urges govt to put restrictions on cotton yarn exports

“We request immediate intervention to increase the supply of yarn to domestic manufacturers. We suggest that quantitative restrictions should be imposed on exports of cotton yarn, specifically on cotton yarn of 26 counts and above,” AEPC said.

The Apparel Export Promotion Council (AEPC) on Saturday urged the government to impose restrictions on exports of cotton yarn in order to curb prices and increase supply for domestic manufacturers. AEPC Chairman A Sakthivel said despite several efforts by the government to reduce the price of cotton yarn, it has consistently increased in the last four months and was affecting the entire value chain.

“We request immediate intervention to increase the supply of yarn to domestic manufacturers. We suggest that quantitative restrictions should be imposed on exports of cotton yarn, specifically on cotton yarn of 26 counts and above,” he said.

Sakthivel further said the Cotton Corporation of India (CCI) has reduced the price of cotton for small mill owners but this did not result in reduction of cotton yarn prices.

“The rate of increase in yarn prices far exceeds that of cotton prices. The steep increase in prices and unpredictability in availability of yarn means that garment exporters cannot honour commitments they made to their customers.

News Source:- Economic Times

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