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Spinning mills with 67%production till June 15

Written By Views maker on May 31, 2011 | 5/31/2011

Spinning mills in India have announced  1/3rd or 33% production cut to continue till June 15th. This production cut is in protest of yarn export policy of Indian government. <Read more>

The spinner have been asking for a lift of ban on yarn exports so that they can realise a better price and demand for yarn. The request is made due to poor domestic demand and price. on the other hand the cotton grower are also demanding for a lift of ban on cotton exports and the garment exporter are looking forward for a further price yarn drop. Textile ministry would soon be forced to revisit the textile policy if the protest continues for a much longer period. Textile ministry is to be blamed for it's in action  both during the sudden or continuous price raise of yarn for about a year and half and now for suddenly drop in the cotton & yarn price.

Related stories: <Farmer request for Cotton exports> <Cotton price fell by 20%>