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Article: Spinning units slashes production due to high cotton prices.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- November 2, 2008
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Spinning units slashes production due to high cotton prices
Chandigarh, Nov 2 (PTI) -- Spinning industry of Punjab has reduced cotton yarn production by 20-35 per cent and raw cotton intake by over 50 per cent in view of pressure on margins due to high rates of the white commodity this year.
"With spinning sector unable to absorb the prevalent high cotton rates, the companies here have significantly curtailed the production of yarn and cotton consumption," Vardhman Textiles Ltd Corporate General Manager I J Dhuria said.
Cotton prices have increased this year on the back of high minimum support price of the commodity announced by the Centre for ...