New Delhi, April 24 -- Apparel sold by fast-fashion retailers such as Zara and H&M may soon become more expensive as the war in West Asia is squeezing polyester suppliers and garment makers across India and Bangladesh, Reuters reported.
The closure of the Strait of Hormuz has disrupted the supply of refined petroleum products. Polyester, made from oil derivatives, dominates the textile industry, accounting for 59% of global fibre production. It is used in everything from dresses to athleisure wear.
With the West Asia supply disrupted, Chinese suppliers have raised prices. As a result, Indian polyester yarn producers are paying nearly 30% more for petroleum derivatives used in the production of polyester. The disruption has hit the cloth...
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