Plea for Ban on Export of Cotton Waste.

Madurai, Jan 9 (PTI) The Madurai Textile Exporters Association today demanded a ban on export of cotton waste to rein in the prices of cotton yarn and suggested regulated export of raw cotton to protect domestic textile units.

The move to allow export of cotton waste had pushed the prices of cotton yarn by about 15 to 20 per cent. This would dent the margin of the textile units in a big way, association President M Britto said in a release here.

Farmers'' interests were not involved in the export of waste cotton, unlike raw cotton. Cotton waste was used in producing low-priced textile items for poor people, he said.

Pressing for regulating export of the raw material, he said the textile units which had booked export orders would be affected if cotton export was allowed indiscriminately.

"We should not be forced to close for want of raw materials. If this scenario continues, our business will become non viable and lead to closure, affecting thousands of employees," Britto said.

The units situated in Madurai, Karur and Rajapalayam belts manufactured textile goods worth Rs 600 crore annually and employed 10,000 people, he pointed out.

Panic buying China and Pakistan and coupled with online trading had pushed up the price of raw cotton by 100 per cent within one year, the association officials said adding, they have sought the Prime Minister''s intervention in the issue. PTI SSN VS TRK VS

Source : in.finance.yahoo.com