Erode, Feb 14, (PTI) More than 3,000 handloom andpowerloom merchants in the district, a key textile center inthe country, closed down their shops today as part of atwo-day strike demanding Central and State governments thatthe price of cotton yarn be reduced.
The protestors said that in the past three months theprice of all varieties of yarn had increased several fold.
They said the price of a bundle of yarn had increased byRs 800 in the past three months.
The merchants said if the government did not interveneand the prevailing price of yarn remained the same, they wouldhave to increase the rate of their products by a minimum Rs 20per meter.
The protestors also demanded that the Union Governmentban the online trading of cotton and stop its export.
A section of the striking textile merchants also observeda one-day fast in the district, in which more than 2,000participated.
The protestors said they have decided to conduct a �railroko� in the district tomorrow.
Meanwhile, the merchants said the weekly hosiery marketin the district that will assemble every Monday afternoon, inwhich they said about Rs 2 crore worth transactions would bewitnessed, did not take place today.
The weekly textile market, which will be conducted everyTuesday, will also not take place tomorrow, merchants said.
PTI COR ARPARP02141548