Why is Loom Tree starting a Yarn Bank in Bhagalpur?
Weavers face immense difficulty right from purchasing raw material for the manufacture of silk items. In consultation with the weavers, it emerged that a yarn bank could help in alleviating these difficulties. Here weavers could get access to yarn at a reasonable cost. Loom Tree has established a yarn bank, in partnership with SEWA Bhagalpur.
We are working with SEWA Bhagalpur to provide raw material to weavers at reasonable rates. The absence of yarn banks in Bhagalpur has resulted in the traders enjoying the monopoly and earning huge profits at the cost of the weavers
Textile experts believe that yarn banks can empower weavers to arrest price fluctuations and curb the presence of middlemen, known for hoarding yarn stocks and engineering artificial price hikes and shortages. Moreover, the yarn banks will allow the weavers to procure yarn on credit and repay the amount in installments or adjusting against the quantity of yarn bought every month. Post-manufacture, weavers face challenges in selling the product in the right market; Loom Tree has guaranteed weavers that we will pick up the fabric. A yarn bank stocks the yarn sold from producers for buyers. The objective of a yarn bank is to provide the requisite raw material to weavers at a reasonable price and when the need arises.