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Related Keywords: basic raw material, dip in crude price, fall in yarn price, Federation of Gujarat Weavers Association, international market, MMF sector, polyester fabrics, polyester sari, polyester yarn, Surat powerloom weaver

The powerloom weavers of Surat, he country's biggest man-made fabric (MMF) sector are buoyant following a dip in crude oil prices in the international market as it may decrease the yarn prices.

According to Industry sources, the crude oil prices have dipped below $92 per barrel in the international market which is the basic raw material for polyester yarn. This is going to put pressure on spinners to decrease the yarn prices.

Related Keywords: crude oil prices, ethylene price, MEG price, mono ethylene glycol, naphtha price, paraxylene price, polyester chip, polyester fiber, polyester filament, Polyester prices, polyester spun, polyester yarn, PTA price, Purified terephthalic acid

In the week ended 5 September, crude oil prices climbed more than US$2 early in the week as the markets bounced off several month lows hit in the previous week. Also prospects for peace in CIS and a strong US data raised demand expectations. Weaker US$ and expectations of a decline in US crude stocks also supported prices. However, the oil complex settled lower on the week after a ceasefire agreement in Ukraine helped minimize risk premium, while concerns remain over the impact of Russian sanctions on European demand.

Related Keywords: Baseline Survey of Powerloom sector, Bhiwandi, Ministry of textile, MMF hub, poly cotton center, polyester yarn, Powerloom Service Centre, shuttleless looms, Surat

The first ever 'Baseline Survey of Powerloom sector' conducted by AC Neilsen ORG MARG for ministry of textiles, government of India confirm Surat as the biggest man-made fabric (MMF) hub in India.
 
The objective behind the survey was to collect authentic data on the number of powerlooms in India, various kinds of fabric produced and other information. A nine page format was designed and information was collected with the assistance of Powerloom Service Centre (PCS) and powerloom associations across India.
 

Related Keywords: bio polymer chip, chemical industry, Ecodear brand, plant-based, polyester fibre, polyester yarn, sustainable textile drive, Toray

Toray, Osaka-based, an integrated chemical industry group developing its business in 25 countries and regions world wide, as part of its sustainable textiles drive this year it will move away from making 100 percent petroleum-derived polyester fibre and instead produce polyester made from ‘plant-based’ bio-polymer chip.

Toray has developed a lab-scale 100 percent bio-based polyester yarn, which will eventually be marketed under its ‘Ecodear’ brand when it completes commercialisation.

Related Keywords: anti dumping duty, costlier, crude oil prices, finished fabrics, MMF hub, polyester yarn, Surat weavers, textile traders

Textile entrepreneurs from the country's biggest man-made fabric (MMF) hub of Surat are concern over the rising crude oil price and imposing of the anti dumping duty on polyester yarn.
 
Rise in crude oil price in Asia due to continuous violence in Iraq, yarn manufacturers have increased the prices of yarn by Rs 4 per kilogram. While with the anti-dumping duty on polyester yarn, the basic raw material for Surat’s MMF sector, the local weavers in the powerloom sector has to heavily depend on domestic manufacturers.