The price of polyester staple fiber (PSF) has registered an increase of rupees four per kilogram, effective from Friday (October 1). The new rates, announced by the local manufacturers of fiber on Thursday, would be Rs 88 per kilogram. The announcement in raise in the price, second in two consecutive month, has been attributed to the record rise in fuel prices internationally, which has adversely affected prices of the PTA and MEG, the raw material used in the manufacturing of the polyester.
Earlier, the price increase for locally manufactured fiber had been confined to a raise of rupee one to two per kilogram only and the sudden jump of rupees four a kilogram has perturbed the exporters of the polyester cotton yarn and fabrics, which makes most of the country's exportable textile products.
Industry sources said on Thursday that despite the increase in polyester fiber rates, prices of PC yarn in the local market had surprisingly registered decrease.
"This is perhaps due to sluggish market condition," they said, adding the textile exports would be adversely affected by the fiber prices increase.
It would have a negative impact on the common man during the month of Ramazan and Eid-ul-Fitr as the prices of Shalwar-Kameez would shoot up.
The sources anticipated further increase of the same level in the polyester prices in November as the manufacturers made a review of prices on monthly basis.
Comments
Comments are closed.