Tiruppur knitwear exports get boost as cotton yarn prices drop

A recent Rs 10 per kg reduction in cotton yarn prices has gone down well among Tiruppur's knitwear exporters. This price drop, effective comes ahead of the peak New Year and Christmas season, and is expected to stimulate domestic production and international exports.

The price reduction across all counts, including 20s kh and 40s kh, has been welcomed by industry leaders. KM Subramanian, President, Tiruppur Exporters' Association, believes this development, coupled with the decline in cotton prices to Rs 56,000 per candy, will significantly contribute to achieving the annual export target of Rs 40,000 crore.

MP Muthurathinam, president of Tiruppur Exporters and Manufacturers Association, highlighted the potential for increased orders from Bangladesh, which had previously been deterred by higher prices. He expressed hope that the price reduction would revitalize domestic sales, which had been impacted by lower-than-expected Deepavali demand.

This latest price decrease follows earlier reductions in January and June, further underscoring the positive trajectory for the knitwear industry.