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25 May 2018, Edition - 1046, Friday

FLASH NEWS:

  • This will be the prime minister’s first official visit to Indonesia and his second official visit to Singapore
  • The Sunanda Pushkar death case has been transferred to the Additional Chief Metropolitan Magistrate
  • JUST IN: Sunanda Pushkar’s murder case adjourned to 28th May
  • 3 days later, Tamil Nadu CM EPS surfaces, shocking: CM won’t condemn police firing, not a word for the Tuticorin victims
  • Thirteen people were killed in the police firing in the two days of clashes
  • Biennial elections to Maha Legislative Council results: BJP wins 2 seats, NCP 1
  • Power supply of sterlite plant disconnected, T.N govt disconnects power supply, cut due to non compliance of rules
  • Extortion threats to 12 U.P MLAs, demand: Pay up Rs 12 lakh each, Intel agencies begin probe

Coimbatore

Non-viability forces mills to cut down yarn production

Covai Post Network

With cotton prices again touching Rs 50,000 per candy (356 kg), the majority of textile mills in Tamil Nadu have cut down yarn production by 30 to 40 per cent, because of non-viability.

At these end-season prices, industry sources pointed out that there was no point in continuing normal production, as the prices of yarn did not match the higher cost of production, pushing mills into heavy loss.

The yarn prices were bound to increase, as a result of the shortage by cutting down production and almost 60 to 65 per cent of textile mills resorted to cut down their production, either by giving one or two weekly offs or reducing work shifts.

Moreover, the new crop of cotton of the season (October-September) was expected to arrive only in November and the mills did not want to exhaust their available cotton stocks by converting it into yarn, which was not remunerative.