Hosiery manufacturers following frequent fluctuations in cotton and yarn prices, want the Cotton Corporation of India (CCI) to not only stop releasing any stock of cotton to traders but they are also looking forward to the centre for imposing restrictions on the export of cotton and yarn.
Due to the hike in the cost of yarn supplied to them, the hosiery manufacturers had to increase the price of the products by 10 per cent.
In order to prevent hoarding and cotton to reach the right hands, a mechanism needs to be developed to supply the cotton procured by the CCI only to the manufacturers of yarn and fabrics through a direct mode of transfer, manufacturers said.
A. C. Eswaran, president of South India Hosiery Manufacturers Association has pointed out that it is imperative to control the exports of cotton and yarn to prevent escalation of prices as it has been learnt that the acreage under cotton cultivation was down this season to 19.07 lakh hectares from 34.87 lakh hectares registered during last season in the country.
