30,000 power looms fall silent as rayon yarn price goes up, Retail News, ET Retail
Erode is noted for textile output and additional than 50,000 ability looms perform in the district, of which at Kalingarayanpalayam, Veerappanchatram, Asokapuram and some other locations, 30,000 ability looms produce 24,000 metres of rayon cloth a day.
President of Erode Powerloom Fabric Producers Association Suresh explained, “The cost of 120-gram and a hundred and fifty-gram rayon yarn applied for the output of the rayon cloth has been greater by Rs 26 for a cone as a result of which the cost of output has been greater by additional than 20 for each cent.”
“But, the prospective buyers are hesitant to obtain citing the enhance in value. So, we resolved to quit down the shutters of 30,000 ability looms in the district for seven days from December 21 to December 27,” he explained.
Because of the closure, a overall of sixteen.80-crore metres of rayon cloth output would be affected and about Rs forty crore really worth of trade hit, he included.
