High cotton prices pushing Textile manufacturers towards man-made fibres

ENA Sectors 2023-04-24 17:19:27 Ahmedabad, Apr 24 (KNN) Textile manufacturers are looking for alternative raw alternatives as high cotton prices have hurt the industry. Several textile manufacturers in Ahmedabad are moving to polyester and viscose fabrics. <a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a> Dhruv Patel, MD of Diamond Textile Mills Pvt Ltd, said, We had a thriving cotton textile business for more than five decades with integrated spinning, weaving and processing facilities. For the last nine months, we have completely shifted to polyester yarn and viscose. He further said, We source the fibre, manufacture yarn, and weave it into fabric. Were also supplying yarn to manufacturers in Surat. We had no choice but to shift to polyester and viscose due to high cotton prices, which affected our viability. We have not exited the cotton business entirely, but feel the time is not right for cotton and thus chose to diversify. At least 5 per cent of textile players who were entirely into cotton have adopted man-made fibres, according to industry estimates. Last year, cotton prices reached a record high of Rs 1.10 lakh per candy (356kg). This year, prices have come down to an average of Rs 60,000 per candy. However, recent estimates from the Cotton Association of India (CAI) suggest lower crop output and there will thus be more volatility in cotton prices, experts say. (KNN Bureau) 33096 https://knnindia.co.in/news/newsdetails/sectors/high-cotton-prices-pushing-textile-manufacturers-towards-man-made-fibres 2023-04-24 17:19:27 knnindia.co.in High cotton prices pushing Textile manufacturers towards man-made fibres