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Our Bureau

Mumbai, Aug. 2

The blended yarn spinning industry has raised an alarm over the steep increase in prices of polyester staple fibre (PSF) and demanded duty-free imports to help spinners cope with the cost escalation.

Pointing to the steady increase in raw material prices effected by PSF manufacturers since April, even while blended yarn prices showed no commensurate increase, Mr V.K. Ladia, president of the Indian Spinners' Association (ISA), asserted that downstream industries will suffer heavy losses if the problem arising out of price hikes was not addressed.

Some blended yarn spinners may switch to cotton while others facing machinery constraints may simply shut down, he warned.

According to ISA, the domestic PSF industry currently enjoyed adequate protection in the form of 10 per cent customs duty and 4 per cent countervailing duty on PSF imports. In order to support downstream processors, customs duty on PSF import should be abolished, the ISA has demanded.

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