Poly yarn price hike puts weavers under pressure

SURAT: Weavers in the country's biggest man-made fabric hub in Surat are facing tough days. In the past fortnight, the prices of polyester yarn (POY) have increased by almost Rs 16 per kilogram.
POY is the basic raw material for the powerloom weaving sector in the city. Over six lakh powerloom machines weave around three crore metre of unfinished fabrics per day.
Industry sources said leading spinners had revised the prices of polyester yarn in a phased manner in the past fortnight. The prices have been increased by almost Rs 16 per kilogram.
The spinners have cited the reason of the increase in the cost of raw material for producing POY due to the record fall in the rupee against the dollar.
Sources said that most of the weavers have stopped purchasing POY due to significant rise in its prices.
This is going to impact the MMF industry as the production of unfinished fabrics would decrease ahead of the upcoming festival season.
Rakesh Patel, a powerloom weaver in Katargam, said, "It is difficult for us to maintain the production levels due to the increase in yarn prices"
Ashok Jirawala, president, Federation of Gujarat Weavers Association (FOGWA), said, "The industry is not in a position to sustain the huge price rise in POY. The sector is already passing through a tough phase and the price hike has further deteriorated the situation."