Since the last few weeks, prices of key raw materials in global markets, used in the textile industry have been seeing a rise in prices due to various reasons and the Indian fibre market could not stay insulated for long from these global changes.
The major change in price has been reported by Viscose Staple Fibre (VSF) which has increased by Rs 3 per kg in March to Rs 100 per kg, while that of Polyester Staple fibre (PSF) have stayed flat and is the first instance of a hike in VSF prices in the current year.
Prices of VSF in the Chinese market have grown by as much as much as 15 percent in the last few weeks, while that of global PSF prices have also been able to grow to a certain extent, so a price hike in Indian markets was inevitable.
A hike in PSF prices is also not ruled out in the future since, prices of its feedstock Purified Terephthalic Acid (PTA) and Monoethylene Glycol (MEG) have moved up the ladder substantially in the last few days.
Fibre2fashion News Desk - India
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