Jeans to cost more; Denim prices hiked
Ahmedabad: Denim products are likely to get costlier as manufacturers in country`s largest denim producing state of Gujarat have hiked the fabric prices by Rs 5-6 per metre amid soaring cotton and polyester rpt polyester prices, industry sources said here on Monday.
"We have increased the denim prices by Rs 5 per metre over the last one month or so. It is now available at Rs 92 per metre against Rs 87 a month ago," said managing director Aarvee Denims Ashish V Shah.
Aarvee Denim has manufacturing capacity of 60 million metres of denim per annum, out of which around 20 to 25 per cent is exported. Exports, however, are dependent on currency fluctuation, Shah said.
Gujarat manufactures over 250 to 300 million metres of denim per annum, making it the largest producing state in India with leading textile houses like Arvind Mills, Aarvee Denims, Aashima, Nandan Exim, Jindal Worldwide and few others, locating their plants here industry sources said.
"So far we have increased the per metre Denim price by Rs 5 to 6 and with cotton and polyester prices ruling firm we expect another 3 to 4 per cent hike in prices to come into effect by March," CEO Nandan Exim Deepak Chiripal said.
According to Chiripal, the cotton prices have gone up by 30 per cent in the last few months, and cost of polyester has also gone up considerably.
Nandan Exim has manufacturing capacity of 40 million metres per annum and makes about 200 varieties of denim, a company official said.
The outlook for denim is positive as the fabric is likely to remain the flavour amongst consumers, Chiripal said.
"If the cotton prices do not soften then its going to be a challenging year ahead for denim," said Managing Director Jindal Worldwide Amit Aggarwal.
The company manufactures around 20 million metres of denim per annum of which around 15 per cent is exported, he added.
More from India
More from World
More from Sports
More from Entertaiment
- Salman Khan attends sister Arpita's wedding reception in Mandi
- 2G scam: Ex-TRAI chief alleges Manmohan Singh had warned him to cooperate
- Zee Media's mega survey on Modi govt
- I eat beef, can somebody stop me?: Kiren Rijiju hits back at Naqvi
- Zee Media Exclusive: Vidya Balan chats about 'Hamari Adhuri Kahani'
- Delhi: Visually impaired boy scores 91.4% in CBSE 12th Board exams
- MP: 14-year-old boy works as bonded labour since 2009
- Smriti Irani visits Amethi, promises to pay insurance money to 25,000 women
- UP: Man chops off wife's nose, hair for dowry
- Zee Media Exclusive: The plight of yoga expert Tejaswi Sharma
- Woman denied flat in Mumbai for being a Muslim
- 4 Indians in Forbes' 100 most powerful women list
- BBV: What challenges lie ahead of Modi govt?
- DNA analysis of rising water crisis in India!
- Gujjar stir: HC asks Rajasthan govt to clear rail track, roads
- Arpita-Aayush wedding reception: Salman Khan spreads love in Mandi, says `hum aapke hain`
- CBSE Class 10 Board Result 2015 (cbse.nic.in, cbseresults.nic.in) postponed?
- CBSE Class 10 Board Result 2015 to be announced today
- Check mahresult.nic.in for MSBSHSE Maharashtra Class 12 HSC Result 2015
- Maharashtra MSBSHSE HSC Result 2015 on mahresult.nic.in
- MSBSHSE Class 12th HSC results 2015 to be declared at 1pm tomorrow
- Rahul Gandhi takes a dig at one year of Modi govt, wishes 'happy birthday' to 'suit-boot ki sarkar'
- I was misquoted, says Kiren Rijiju on 'beef' remark
- mahresult.nic.in updated with MSBSHSE Maharashtra HSC Class XII Result 2015
- First look: Salman Khan steals thunder in `Bajrangi Bhaijaan`
- CBSE 10th result to be declared tomorrow
- Check mahresult.nic.in for Maharashtra HSC Result 2015 to be announced at 1 pm on May 27
- Manmohan Singh defends himself on 2G charge, slams Modi govt for 'carbon copy' schemes
- Sonia Gandhi 'unconstitutional authority' during UPA: PM Narendra Modi
- Reservation stir: Five percent job quota to Gujjars unlikely, hints Rajasthan govt