The Hindu Business Line : Tirupur producers hike prices of hosiery products

TIRUPUR based hosiery manufacturers have increased the prices of all hosiery products sold for the domestic market by 5 per cent with effect from Tuesday.

The rate increase will cover all popular domestic hosiery products such as the vests and briefs as also the `T-shirts', according to a press release from the South India Hosiery Manufacturers Association (SIHMA).

The decision to increase the price was taken at the executive committee meeting of the SIHMA held on Monday.

The meeting felt that the rate hike became inevitable in view of the `unprecedented' increase in the hosiery yarn prices together with the rise in the costs of other inputs such as the dyeing and bleaching rates, electricity charges, packing materials and other raw materials prices.

The SIHMA sources said that hosiery yarn that constitutes 60 per cent of the raw materials required for hosiery garments went up by Rs 800 to Rs 1000 per 100 kg case in the last one year.

But the hosiery goods producers chose to limit their price increase to 5 per cent only considering the market condition.

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