Erode, Feb 15 (PTI) The two-day strike called by morethan 3,000 merchants in the district, a key handloom andpowerloom center in the country, entered its second day hereas the traders closed down their shops demanding Central andState governments that the price of cotton yarn be reduced.
The merchants also decided to send a delegation to NewDelhi to meet Congress President and UPA chairperson SoniaGandhi to press their demand.The traders said the two-day strike would result in atotal revenue loss of Rs 10 crore.
The traders, who started the strike yesterday, areprotesting the ''several fold'' increase in the price of yarn inthe past three months. They said the price of a bundle of yarnhad increased by Rs 800 in the past three months.
The merchants said that if the government did notintervene and the prevailing price of yarn remained the same,they would have to increase the rate of their products by aminimum Rs 20 per meter.
Meanwhile, more than 500 textile traders of the districtwere arrested when attempting to conduct ''rail roko'' here.
The protestors were detained when stopped by police nearPaneerselvam Park while on their way to the railway station tostage the ''roko''.
Elsewhere in Erode, about 3,000 powerloom producers inChennimalai observed a strike in support of the cause of thetextile merchants.