Viscose Filament yarn (VFY) has witnessed a notable decline in prices in the Indian market of around x.xxx in January xxxx. This price reduction is primarily attributed to the low demand in downstream industries as well as cheaper raw material costs. This trend of PFY has significantly impacted the dynamics of the textile industry in India, flashing opportunities and challenges for manufacturers, suppliers, and consumers.
As per the report of Aditya Birla Grasim Industries, the largest manufacturer of VFY in India and third largest globally, the primary factor driving the decrease in viscose fiber yarn prices in the Indian market is the accessibility of cheaper raw materials from China. As per the statement of the Chief financial officer of Grasim Industries in the Qx earnings conference call, VFY price was reduced due to the lack of demand in the downstream industry mainly for embroidery and georgette and...
