Surat: During the Israel-Iran-US war, crude oil prices had skyrocketed in the international market and due to this, the prices of other products made from crude also reached the seventh sky. As the price of basic raw material of yarn made from crude increased, yarn manufacturers in Surat increased the prices by 35-40%.
Now, for the last two days, crude oil prices have been continuously falling and today the price of crude oil has reached below $95 per barrel, despite this, spinners and yarn distributors have not reduced the prices of yarn, causing great discontent among the weaving manufacturers of Surat.
Local yarn manufacturers have increased the prices of yarn in the guise of increasing crude oil prices, which has led to a recession in the market and due to this, Surat’s cloth production has decreased by 60 percent.
Textile leader Ashish Gujarati said that when the prices of crude oil increased, even before its impact was felt, the yarn manufacturers had made the yarn expensive, to such an extent that the price of yarn was increased to such an extent that the cloth manufacturer, far from making a profit, had to suffer losses after the cloth was made.
Ashish Gujarati says that crude prices have been down for the last two days, and today, after the talk of a ceasefire between Iran and America, the price of crude per barrel has fallen to below $95. In the past week, the central government has completely reduced import duty and tax on about 30 petroleum products. These are two strong reasons due to which yarn prices should come down. However, yarn manufacturers in Surat are not reducing prices.
Even though crude prices have come down below $95 per barrel due to the ceasefire between Iran and America, spinners have not reduced prices
Weaver Hasmukh Patel, another textile manufacturer, says that if spinners reduce yarn prices, the shortage of the recession prevailing in the textile industry will automatically go away. If yarn prices come down, then the cost of cloth will come down and as a result, new purchases will come out in the market. Hasmukh Patel says that spinners are arbitrarily fluctuating the prices of yarn, now when all the factors are leading to a decrease in the prices of yarn, still spinners are not reducing the prices of yarn. Now it is time to present a representation to the state and central governments to intervene in this issue.
