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Unstable raw material market is creating colossal chaos - Ibrahim Fibres

07
Nov '08
Mr Jawaid Ashraf, General Manager, Marketing & Technical, Ibrahim Fibres Ltd
Textile industry across the world is reeling under the pressure of global recession. Manufacturers are going through a miserable state due to slower demand in the market. Now, plummeting raw material prices for various products, has added fuel to the fire.

How to survive this situation is the Big Question, NOW.

For the past few months, there has been a sharp decline in raw material prices for polyester filament yarn.

Mr Jawaid Ashraf, General Manager, Marketing and Technical, Ibrahim Fibres Ltd discussed the current market scenario and its effects, in an exclusive interview with Fibre2fashion.

“As per existing market scenario, instability in prices of all raw material like PTA, MEG, PSF, and filament yarns like viscose, and cotton, is creating a huge chaos and all consumers are hesitating for procurement of raw materials which is badly affecting the business. Until and unless some firmness is seen in the overall world prices, the buying behavior will be as per JIT (Just in time) system.”

While talking about its effects on the Company, Mr Ashraf lamented, “Existing financial crisis is affecting the payment schedule, which is one of the factors affecting the business. The saddest part is, USA & EU countries are asking to hold the shipments against contracted quantities, thus slowing down export as well as local markets. Further, currency devaluation is making the current state bleaker.

“Even, realty and share market crunch together with political instability together with banking insecurities, taxes levies, load shedding, war on terrorism, Chinese bulk production and America's election, pricing threats are putting a lot of burden on the industry.”

Polyester Plant of Ibrahim Fibres Ltd, located in Faisalabad, Pakistan, is proficient in producing different variants of PSF including colored, bright, optical bright, hollow, fire retardant and other polyesters for specific applications.

Stating the future market trend, the General Manager, Ibrahim Fibres Ltd, credulously said, “Every business is at its bottom level now, but I believe this scenario will not continue for a longer period. We foresee a better future with the final stability in raw material prices and things will settle down soon.”

Fibre2fashion News Desk - India


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