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Domestic VFY market reeling under Chinese onslaught

31
Oct '05
Cheap imported Chinese Viscose Filament Yarn (VFY) affected Indian manufacturers to such an extent that they are saddeld with excess stocks with no buyers around.

Chinese VFY imports to India last year, was about 5400 ton - which was almost 10 percent of the total domestic production.

And to add to the woes of the local manufacturers, Chinese dumping of VFY continues unabated, this year also.

Figures indicate that imports till August reached 5004 tons and is expected to cross 7500 tons on cumulative basis.

Significantly, Chinese VFY is sold for US $3.20 per kg in the US, in Japan at about $4.28, and to Korea for $3.43 per kg.

However, in India the figure is much lower than the global average realization - at $2.73 per kg.

This only indicates to the extent China's VFY is being dumped in to India and their imports are unstoppable.

So is the case of embroidery yarns from China that have hurt Indian manufacturers, and which are made from rayon.

Surat and Salem manufacturers from this sector are facing the heat as Chinese embroidery yarns are priced at $3.50 per kg, which is much lower compared to Indian product price.

Besides, the embroidery yarn industry being a cottage industry, thousands of manufacturers and their families depend on the it as their livelihood.

Before the industry goes under the crunch of Chinese imports, a section of the industry calls upon the Government to plug the imports through anti-dumping duties and other measures.

Promising Indian VFY industry can grow at 6 to 8 percent per year, in case government supports the sector immediately, opine industry insiders.


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