Southern India Mills Association, SIMA members agreed to reduce the hosiery yarn prices by Rs.5 per kg with effect from 1st May 2010. In a Press Release, SIMA Chairman Thulasidharan said that the Association has also appealed to all its member mills to extend similar support to the downstream sectors. He pointed out that the warp yarn prices and hank yarn prices have already started showing a downward trend.<br/><br/>Members also agreed to extend their full support to the handloom sector by supplying adequate quantity of hank yarn. Mr.Thulasidharan has appealed to the Union Textile Minister to drop the proposal of withdrawing the duty drawback for cotton yarn. Government had already withdrawn the DEPB (Duty Entitlement Pass Book) benefit of 7.67% and the removal of drawback would make the Indian yarn very expensive in the international market and would lose their customers. <br/><br/>Tirupura xporters Association, TEA welcomed the decision of SIMA and asked for further deduction in the best interest of the whole textile industry. TEA also requested other mills associations to take the similar steps.<br/>