A steep rise in crude oil prices amid the Ukraine crisis pushed acrylic fibre prices by Rs 5-6 per kg last week in the Indian market. The cost of acrylic yarn also increased by Rs 5-6 per kg during the week ending February 26 in Ludhiana, the country’s most prominent man-made yarn market. However, demand of man-made yarn remained weak due to poor buying from downstream industry.

Meanwhile, international cotton prices remained highly volatile along with other commodities due to the recent geo-political developments. Domestic demand for summer season remained low due to a drop in temperature. Export demand also remained weak as exporters have very few orders. Recent international developments are also adding to buyers woes due to uncertainty in garment exports.