Yarn price: Rs 400 crore loss due to two-day strike

TIRUPUR: Textile units in Tirupur incurred a total production loss of Rs 400 crore due to the two-day strike, which ended on Tuesday.

More than 90 per cent of textile units and their allied job working units remained closed for the second consecutive day protesting against the abnormal increase in prices of yarn and cotton.

CPM workers staged a day-long fast in support of the strike by garment production units. They demanded cotton be brought under essential commodities, crack down on hoarders, permanently scrap import duty on cotton and ban cotton exports to bring down the price.

The ever busy Khaderpet and Lakshmi Nagar, which have a large presence of garment shops and job working units in the district, wore a deserted look. The textile firms resorted to vigorous protests as yarn prices have more than doubled.in an year and half.