05 April 2022, Mumbai:
A steep rise in raw material prices has compelled Aditya Birla Group’s flagship company Grasim Industries to increase VSF prices by up to Rs10 per kg, which is around 6 per cent of the previous rates.
The hike in prices is due to a steep rise in prices of cotton, polyester and acrylic staple fibre.
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According to market sources, Grasim has increased VSF prices by Rs 7 per kg.
It has also increased dyeing charges by Rs 3 per kg. Therefore, the total increase is around Rs 10 per kg.
The price of modified fibre has been increased by Rs 8 per kg.
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After the increase, average rates of VSF reached Rs 175 per kg for up to the quantity of 50 MT.
The average rate will be Rs 172 per kg for bulk buyers.
VSF prices are not driven by costlier crude oil as it is sourced from wood. But costlier natural fibre pushed up the price of the tree-based fibre.
The general inflationary effect is also a cause for the price rise.
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