Over 30,000 power loom units that stopped production from February 11 to 21 against rising price of yarn, resumed operations here on Monday.
Units in Erode, Chithode, Lakkapuram and Veerappanchatiram that were involved in producing rayon fabrics stopped their operations over the issue of continuous rise in yarn price. They said that the price of yarn continues to be on the rise affecting their production. Also, the price of yarn changes frequently and they wanted the companies supplying yarn to fix the price once in a month.
B. Kandavel, coordinator, Tamil Nadu Federation of Power Loom Association, said that due to stop in production, fabric worth ₹ 85 crore could not be produced and added that regulating the yarn price is the only solution for the issue. The price of yarn that stood at ₹ 230 a kg in January dropped to ₹ 205 in the second week of February and again was increased to ₹ 215 a kg on Monday.
Source: https://www.thehindu.com/