Man-made fi­bre prices pick up

Mint ST - - MARK TO MARKET -

Lower de­mand not­with­stand­ing, prices of polyester fil­a­ment yarn (PFY) have re­versed since the steady fall seen from FY14. From April-au­gust FY18, prices rose by 7% yearon-year on ac­count of ris­ing costs of in­puts, which are mainly petro­chem­i­cal de­riv­a­tives. Hence, the price is linked to crude oil. Note that on the back of fall­ing crude oil prices since FY14, PFY prices too had slipped con­sid­er­ably. “In the last five years, con­sump­tion of PFY in In­dia de­clined on ac­count of fall in con­sump­tion of non-cot­ton fab­rics, tech­ni­cal tex­tile lead­ing to slower off­take of PFY,” says a study by CARE Rat­ings. Con­sump­tion had fallen by 16.2% com­pound an­nual growth rate be­tween FY13 and FY17.

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