The South India Hosiery Manufacturers’ Association in Tiruppur has asked the hosiery product producers to increase the prices by 10 %.
According to a press release from the Association, it was decided last month that all the manufacturers will increase the prices to meet the higher cost of production, because of the hike in raw material prices. Companies that had not announced the increase so far were asked to do so to ensure uniformity in prices of hosiery products.
It was also decided at a recent meeting of the Association to monitor the movement of raw material prices continuously and revise the product prices in the future, if needed.
The Association members plan to have a meeting with hosiery manufacturers in other States, since the prices of yarn were going up across the country.
It was decided to urge the spinning units to fix the yarn price once in three months to ensure stability in prices. Also, the issue should be taken up with the respective State governments and the Central government.
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