Photo: www.centurytext.com

MUMBAI (Reuters) - Diversified Century Textiles and Industries Ltd is planning to raise prices of cotton yarn to offset high input costs, a senior official said on Friday 26 March.

"We will have to increase prices. We are trying to see how much market can absorb," Senior President R K Dalmia told Reuters.

He did not specify the quantum of the planned increase or a time frame for the hike.

"The industry is increasing the prices to absorb the higher cotton price," he said.

Current cotton prices are higher by up to 54 percent over same period last year in almost all the varieties, government data showed.

(Reporting by Aniruddha Basu & Sourav Mishra; Editing by Prem Udayabhanu)