Leaders from the textile sector have urged the Union Government to impose a ceiling on the exports of polyester yarns. A similar measure had been adopted recently in case of cotton yarn exports, which was intended towards reducing its price in the domestic market.
Yarn spinners as well as texturisers have raised the prices of Polyester Filament Yarn and Polyester Oriented Yarn and this hike in prices is still persisting in Surat, which is the largest man-made fabric hub of India.
A memorandum put forward by the Federation of Indian Art Silk Weaving Industry (FIASWI) to the Ministry of Textiles on this issue revealed that the unprecedented rise in the prices of cotton has led to a distortion in the demand for synthetic yarn by the textile manufacturers. This has in turn raised the export orders for synthetic yarn for India’s biggest manufacturers like Reliance Industries Limited (RIL) to Pakistan and China.
Prices of polyester yarn have rapidly escalated to Rs 114 per kilogram in November from Rs 63 per kilogram in September.
No comments:
Post a Comment