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Textile Ministry to act tough on hoarders as price of yarn and cotton soar

With the price of cotton soaring – expected to touch the INR30,000 (USD675.58) mark – and yarn also priced high at around INR170 (USD3.83) (for 40s count yarn), the Union Textiles Ministry will act tough against hoarders who illegally hoard the input commodities to artificially jack up the price, said Dayanidhi Maran, the union minister of textiles.

"The price of yarn has increased from 24 percent to 30 percent, and the cotton price is also steadily increasing. The price rise of the duo commodities is playing havoc on sectors like textile handlooms. The ministry will take stern measures against hoarders," he says.