The conflict in West Asia has led to a surge in crude oil prices, significantly affecting the manmade fibre industry. According to Shaleen Toshniwal, Chairman of the Manmade and Technical Textiles Export Promotion Council (MATEXIL), the price of polyester and other raw materials has sharply increased, creating pressure throughout the value chain. The escalation is primarily due to geopolitical tensions, including strikes in Iran and the closure of the Strait of Hormuz. Exporters are struggling as they cannot pass on the full cost increase to customers, resulting in a 'wait and watch' strategy, with many spinners and weavers holding on to their inventories. Furthermore, rising freight costs, including the War Risk Surcharge and increased insurance premiums, along with subdued demand from major markets, are compounding the challenges faced by exporters. Even if the situation improves soon, Toshniwal warns that it may take significant time for prices to stabilize to pre-February 28 levels.