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Polyester industry in dilemma

16
Jun '09
The polyester industry has suffered as much as the other sub-sectors of the textile industry. The biggest blow other than the reduced demand in the last few months had come from the drastic reduction in prices of polyester fibre and its intermediates and this at a time when prices of its contemporaries in the petrochemicals sector is on a growth curve.

When asked about the current situation in the polyester value chain, Yoshitaka Yamagata from the Corporate Communications Department at Toray Industries Inc, Japan had this to say, “On the whole, our fibers and textiles businesses were severely affected by the economic slowdown, including the polyester business. The movement of goods for apparel applications remained sluggish reflecting weak demand for clothing, and sales volume of products for industrial applications decreased especially in the automotive sector as demand for such products declined significantly.

“In response to this difficult business circumstances, we implemented such measures as to reduce output to adjust inventory levels, reduce capital investments, and cut down expenses and as to the forecast for 2009, we expect the economy will remain weak and early recovery looks unlikely. We cannot comment on the outlook only for the polyester industry, but we expect harsh business environment to continue in the industry at least during the first half”, he concluded by saying.

Komori Yayoi also from the Corporate Communication Department of the Japan based Kuraray Co. Ltd. was of the opinion that, “Sales of long-fiber polyester remained steady for sports clothing, but exports to the Middle East, Europe, and other regions declined due to a sharp appreciation of the yen in addition to a slump in sales of other clothing items and the decrease in demand also affected both the domestic demand and exports of short-fiber polyester”.



Fibre2fashion News Desk - India


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