Mills to keep yarn prices at same rate till this month

September 10, 2010 (India)

In a press release issued, Shri.A.Sakthivel, President of Tirupur

Exporters’ Association has informed that a meeting was organized on 8th
September 2010 in Tirupur with Shri.Thulasidharan and Shri.T.Rajkumar,
Chairman & Vice Chairman of Southern India Mills’ Association (SIMA),
Coimbatre to discuss the increasing of cotton prices, spurting up of yarn
prices and aftermath effect on knitwear exports and in the meeting, along
with Shri.A.Sakthivel, Shri.S.Duraiswamy TEA Vice President and
Shri.Premal Udani, Chairman, AEPC participated.

Shri.Sakthivel said SIMA has agreed to advise their members to maintain

the existing level of the yarn prices till the end of this month, after having
a discussion on the concerned issues. Shri.Sakthivel added Shri.P.Appukutty, President, TASMA, has also
promised to extend the co-operation of TASMA and would be advising TASMA members to keep the yarn
prices at the same rate till the end of this month.

The prevailing yarn rates are [Rs. 163/- (20s Count), Rs.171/- (24s Count), Rs.183/- (30s Count), Rs.190/-
(34s Count), Rs.197/- (40s Count)]. Shri.Sakthivel has also advised the members to explain about the
understanding reached with the respective textile Associations for supplying of yarn at the above mentioned
rates, in case if the mills ask for higher rates than the prevailing rates mentioned above.

Shri.Sakthivel mentioned due to intervention of our Hon’ble Union Minister of Textiles, Thiru.Dayanidhi
Maran, a group of Ministers meeting has been scheduled on 14th / 15th September 2010 to analyze the
stock of the situation and he expect that some crucial decisions will be taken for softening of the cotton
prices in the domestic market. He wished that such decision will also be ultimately helpful for controlling of
the increasing of yarn prices.

Finally, Shri.Sakthivel said the course of action plan taken earlier is being postponed till the announcement
of outcome of the group of Ministers meeting scheduled on 14th / 15th September 2010.

Tirupur Exporters’ Association