Related Keywords: daily production, dip in sales, ethylene, fall in crude prices, FOSTTA, man-made textile sector, manufacture of polyester, Pandesara Industrial Association, principle ingredient, recession, Surat, textile trader, yarn price
The daily production of man-made fabrics in Surat has gone down from 3 crore metre to 2.3 crore metre in the past 20 days due to recession faced by the industry. Decline in production by at least 20 percent compared to last year, according to market sources.
The yarn prices have become unstable due to the falling crude prices. The principle ingredient used in the manufacture of polyester is ethylene, which is derived from petroleum. Due to this the industry is incurring loss of Rs 4 per metre, said Mahinder Ramoliya, a weaver from Sachin.
