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The Southern India Mills’ Association

Committed to Foster the Growth of the Textile Industry

Hosiery products turn costlier

The hosiery products that are supplied from Tirupur cluster to the domestic markets have cumulatively become costlier by 123 %, since the first collective decision of entire hosiery manufacturers to increase the prices happened in 2005.
A glance through the cost trend graph accessed by The Hindu shows that the prices of the hosiery products from Tirupur cluster were raised on as many as 14 occasions since December 5, 2005.
Interestingly, the prices were scaled down only once between December 5, 2005 and the latest decision taken a few days back by the South India Hosiery Manufacturers Association (SIHMA) to increase the costs.
“The resolution to bring down the prices on July 11, 2011, by 5 % has been made only because of a significant reduction in the cotton yarn prices during that period, even though the other costs like transportation and labour charges were going higher”, SIHMA sources told The Hindu . The most numbers of price escalations occurred in 2010.
The year saw the hosiery products from Tirupur cluster become dearer on a total of four occasions with the prices collectively going up by 32 %.
“In 2010, the prices of end products have to be raised by 10, 7, 10 and 5 % within a gap of few months due to periodical hikes in input costs”, said the hosiery manufacturers.