Polyester yarn prices expected to plunge further

20 Dec '10

1 min read

The spinners have already lowered the yarn prices by around Rs 8 per kilogram in the last few days apprehending the possibility of imposition of a ceiling on polyester yarn exports by the Textile Ministry of India as has been appealed by a big textile body in order to make the yarn prices steady in the local market.

The yarn prices are further likely to drop, within a short period of time. The weavers are closely following the yarn price fluctuations and they are likely to start buying the yarns as soon as the prices start dropping.

Members of the textile body urged the Textile Ministry to put a ceiling on polyester yarn exports in the same way as it was done for exports of cotton yarn to make the domestic market stable, following the unprecedented hike in polyester yarn prices after November. A memorandum in this connection was already put forward to the Textile Secretary of the country about two weeks ago.

The members also asserted that the demand for synthetic yarn, by textile manufacturers, particularly from China and Pakistan after the conspicuous shortage of cotton supply, had raised the export orders from the country.

Fibre2fashion News Desk - India

More Textiles News - India...