INDIA: Reliance Raises Prices In Time For Festival Season
India's largest textile company, Reliance Industries Ltd (RIL), has raised the prices of its polyester staple fibre, polyester monofilament yarn, and polymers effective today (October 3). The company blames higher crude and petroleum prices, but is possibly using the imminent festival season as an opportunity to institute higher prices.The 19 per cent increase, if enforced, will take polyester partially oriented yarn and polyester staple fibre prices from Rs.55.50 ($1.23) per kg. to Rs.66 ($1.47). Prices of intermediaries like PTA and MEG, which are also used by competitors in the polyester arena, and which can also be imported, have been raised a modest 2 to 3 per cent. Festival season in India spans September and October and, together with marriage season, are the two main drivers of durable consumer goods, including textiles, in India. RIL is an aggressive player. It recently raised $11m for a three year period through private placement, the first corporate to do this. The issue opened September 29 and closes October 5.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- "Power of the many" drives change at Otto Group
- Hard hit Turkish industry is not knocked out
- China leads US apparel sources with falling prices
- Wage abuses can’t be eliminated by software and PR
- US apparel sector braces for potential cost hikes
- US Q4 in brief – Foot Locker, Nordstrom, Carter's
- JC Penney to close 140 stores amid lower sales
- Inditex and H&M boycott Dhaka Apparel Summit
- Bangladesh government steps in on labour crackdown
- Bangladesh calls for duty-free access to US
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022