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Friday, March 26, 2010

Century Textiles to raise yarn prices on surge in cotton

Diversified Century Textiles and Industries is planning to raise prices of cotton yarn to offset high input costs, a senior official said on Friday.

"We will have to increase prices. We are trying to see how much market can absorb," Senior President R K Dalmia told .

He did not specify the quantum of the planned increase or a time frame for the hike.

"The industry is increasing the prices to absorb the higher cotton price," he said.

Current cotton prices are higher by up to 54 percent over same period last year in almost all the varieties, government data showed.

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