Weaves fear price hike in nylon yarn prices

Surat: Nylon textile weavers in Surat have flagged concerns about a potential price hike, alleging that nylon yarn spinners have formed a cartel to artificially inflate prices amid a market shortage.
The Federation of Gujarat Weaver Welfare Association (FOGWWA) on Wednesday urged authorities to take action and ensure an adequate supply of nylon yarn.
According to weavers, a fire at a leading nylon spinning unit has disrupted supply. However, they claim that a group of spinners is taking advantage of the situation by halting sales to create an artificial shortage and push prices higher.
"I have received complaints from weavers that spinners have stopped selling nylon yarn despite no shortage of raw material. This is an attempt to manipulate prices," said Ashok Jirawala, president of FOGWWA.
"If sales don't resume soon, weavers will be forced to take action. I also urge the government to intervene," he said.
Industry leaders have also raised concerns about future price manipulation if foreign nylon yarn supply is restricted.
"Currently, some spinners are trying to hike prices by controlling supply, despite no real shortage. We fear they may use similar tactics if an anti-dumping duty is imposed on foreign yarn," said Mayur Golwala, Secretary of the Sachin Industrial Cooperative Society.
Recently, a fire at a spinning mill destroyed around 2,000 tonnes of yarn stock. Industry sources indicate that it will take time for production to return to normal levels.
Surat: Nylon textile weavers in Surat have flagged concerns about a potential price hike, alleging that nylon yarn spinners have formed a cartel to artificially inflate prices amid a market shortage.
The Federation of Gujarat Weaver Welfare Association (FOGWWA) on Wednesday urged authorities to take action and ensure an adequate supply of nylon yarn.
According to weavers, a fire at a leading nylon spinning unit has disrupted supply. However, they claim that a group of spinners is taking advantage of the situation by halting sales to create an artificial shortage and push prices higher.
"I have received complaints from weavers that spinners have stopped selling nylon yarn despite no shortage of raw material. This is an attempt to manipulate prices," said Ashok Jirawala, president of FOGWWA.
"If sales don't resume soon, weavers will be forced to take action. I also urge the government to intervene," he said.
Industry leaders have also raised concerns about future price manipulation if foreign nylon yarn supply is restricted.
"Currently, some spinners are trying to hike prices by controlling supply, despite no real shortage. We fear they may use similar tactics if an anti-dumping duty is imposed on foreign yarn," said Mayur Golwala, Secretary of the Sachin Industrial Cooperative Society.
Recently, a fire at a spinning mill destroyed around 2,000 tonnes of yarn stock. Industry sources indicate that it will take time for production to return to normal levels.