Textile Raw Material Price 2015-09-14
|
Item |
Price |
Unit |
Fluctuation |
|
PSF |
1115.13 |
USD/Ton |
-0.28% |
|
VSF |
2070.52 |
USD/Ton |
0% |
|
ASF |
2408.03 |
USD/Ton |
0% |
|
Polyester POY |
1077.55 |
USD/Ton |
-0.29% |
|
Nylon FDY |
2505.92 |
USD/Ton |
-0.93% |
|
40D Spandex |
5638.32 |
USD/Ton |
0% |
|
Nylon DTY |
2772.17 |
USD/Ton |
0% |
|
Viscose Long Filament |
5804.34 |
USD/Ton |
0% |
|
Polyester DTY |
1354.76 |
USD/Ton |
-0.29% |
|
Nylon POY |
2349.30 |
USD/Ton |
0% |
|
Acrylic Top 3D |
2595.98 |
USD/Ton |
0% |
|
Polyester FDY |
1158.99 |
USD/Ton |
0% |
|
30S Spun Rayon Yarn |
2787.84 |
USD/Ton |
0% |
|
32S Polyester Yarn |
1769.81 |
USD/Ton |
0% |
|
45S T/C Yarn |
2772.17 |
USD/Ton |
0% |
|
45S Polyester Yarn |
1910.76 |
USD/Ton |
0% |
|
T/C Yarn 65/35 32S |
2333.64 |
USD/Ton |
0% |
|
40S Rayon Yarn |
2928.79 |
USD/Ton |
0% |
|
T/R Yarn 65/35 32S |
2552.91 |
USD/Ton |
0% |
|
10S Denim Fabric |
1.10 |
USD/Meter |
0% |
|
32S Twill Fabric |
0.92 |
USD/Meter |
0% |
|
40S Combed Poplin |
1.02 |
USD/Meter |
0% |
|
30S Rayon Fabric |
0.74 |
USD/Meter |
0% |
|
45S T/C Fabric |
0.75 |
USD/Meter |
0% |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15662 USD dtd.14/09/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
On the heels of top guns of India Inc demanding protection for the textile industry from cheap Chinese imports, textile manufacturers and associations have warned that the domestic industry would be extinct if dumping is countered. The industry claims that as much as 60 per cent of dumping happens from China, and unofficial estimate peg the size of this trade varying between 20 and 40 per cent of the USD 105-billion domestic textile industry. "If the present level of dumping continues unchecked, the domestic textile industry will be extinct over the next few years. China, facing over capacity, has for long been dumping their fabrics and ready-made garments to our market through Bangladesh, Nepal, Vietnam and even Cambodia," Chairman for Policy, Apparel Export Promotion Council Premal Udani told PTI. Udani's firm Kaytee Corporation is one of the largest garment exporters to American retail chains.
Pointing out that the domestic industry is facing the problem of Chinese or Chinese-origin apparel and fabric dumping from long, Udani said what the government should do is to ensure that our borders are better policed, and the customs officials do vigorous inspection of the country-of-origin of goods being shipped in and incentivise the domestic industry apart from engaging in better terms of trade with our neighbours. He further said when China finds that shipments through one channel has reached the official limits, it starts exporting the same goods to other countries like Hong Kong, Vietnam, Bangladesh and Cambodia for onward shipping to India to avoid customs inspections.
The impact of increasing dumping by Chinese is also felt by the largest textile manufacturers like Birla Cellulose, Century, and other textile mills among others. "Cheap dumping by Chinese and Indonesian manufacturers has been hurting us really badly. It's not that our domestic market is not growing. Unless we do something about the problem of dumping, the very plan of pushing local manufacturing will come a cropper," CMO, Birla Cellulose Rajeev Gopal, which is the largest viscose staple fibre (VSF) producer in the world, said. The VSF industry claims that dumping of cheap products across the value chain from fibres to yarns to fabrics is hurting the domestic industry. Nearly 8-10 per cent of the domestic consumption of 25,000 tonne per month has been affected by such imports.
SOURCE: The New Indian Express
Techtextil India, India’s largest exhibition for technical textiles and nonwovens, will be underway next week, from 24 - 26 September 2015. It is confirmed that the exhibition will be inaugurated by Mrs. Kiran Soni Gupta, IAS-Textile Commissioner, Ministry of Textiles, Government of India. Guest of Honor Mr. Michael Siebert Consul General of the Federal Republic of Germany in Mumbai will also be present at the inauguration.
Hosting over 145 exhibitors from 10 countries, the exhibition will showcase the entire technical textile and nonwoven industry value chain with its 10 product groups and 12 application areas of Agrotech, Buildtech, Clothtech, Geotech, Hometech, Indutech, Medtech, Mobiltech, Oekotech, Packtech, Protech and Sporttech, over the three days. Among the highlights of the show, Reliance Polymers is set to launch what the company claims will be one of the world’s greenest Environment friendly sustainable fibers “Recron GreenGold” manufactured from post-consumer waste PET bottles.
The Recron GreenGold fibres are said to be one of the greenest fibres of the world in terms of Co2e. In terms of sustainability, these fibres help in reducing dependence on fossil fuels, natural resources by using post-consumer waste PET bottles which would otherwise have gone for land fill, oceans, or incineration whereas in terms of performance, these fibers are just like the virgin polyester fibre. These fibres also replace the wet coloring process in the production of dyed polyester staple fibre with a dry one, where the colors are added with the raw material instead of coloring the fibre in an additional dyeing process. As fibre comes out colored, it eliminates the need of wet dyeing process all the way to the textile value chain from fibre to yarn to fabric, making it suitable for both apparel and technical textile players to offer certified green end-products and meet the increasing need for sustainable apparel from overseas buyers and brands.
Open to business professionals of the technical textiles and nonwovens industry, these fibres will be showcased at the Techtextil India exhibition opening next week. Product introductions by other key Indian textile manufacturers like Welspun, SSM, A.T.E. Enterprise, Coir Board of India, ITEMA Weaving, Leister Technologies, Picanol India will also be shown at the exhibition.
Techtextil India, now in its 5th edition is held biennially in India and is organised by Messe Frankfurt Trade Fairs India Pvt. Ltd with support from Office of the Textile Commissioner, Ministry of Textiles, Government of India and the Indian Technical Textile Association (ITTA). India being the second largest textile economy in the world, the purpose is to encourage the development of innovative technology and foster growth and India’s competitiveness on the global platform.
SOURCE: Yarns&Fibers
The World Bank said on Monday that India remains a difficult place to do business. It advised the central and state governments to pursue more reforms in the areas of inspection norms, digitisation of requisite business documents and comprehensive data on available land. "The growth of business in India requires concerted action on several fronts -infrastructure, capital markets, trade facilitation and skills - but the stark reality is that India remains a difficult place to do business," country director Onno Ruhl said in his foreword to the Bank report on 'Assessment of state implementation of business reforms', issued on Monday. The report does list positive steps in the areas of taxation and labour rules. However, it points to a poor showing in inspection norms, digitisation of records and adoption of (information) technology as serious drawbacks in increasing the ease of doing business.
India is ranked 142nd among 189 nations in the World Bank's Ease of Doing Business 2015 study. The present government aims to improve the country's ranking to 50 in the next couple of years. All India's states are yet to begin implementing electronic courts - district courts which allow for e-filing of disputes, issuance of e-summons, online payments, e-cause lists and digitally signed court orders. And, 26 states are yet to introduce reforms along a wide range of labour inspections under various acts or on inspections related to building permits. Twenty five states lack online availability of information on land banks and use of GIS systems to track industrial land parcels.
Ruhl said the hardest leg of the business process is the setting-up phase. And, the "majority of the regulatory burden is due to the plethora of laws, rules, regulations and procedures enforced by the states". While this gives rise to a wide number of registrations, licences and No Objection Certificates (NOCs) for businesses to obtain and file compliance returns on, the complex process is made even more difficult with the mindset of India's bureaucracy. This becomes evident when the government itself is seen to have a hard time keeping track of these.
SOURCE: The Business Standard
Gujarat took the top honours in a list that ranked states on the ease of doing business. The government on Monday released the results of the ranking through a report on ‘Assessment of State Implementation of Business Reforms’. Andhra Pradesh, Jharkhand, Chhattisgarh and Madhya Pradesh feature in the top five in the report compiled by the Department of Industrial Policy and Promotion with technical assistance from the World Bank, consultancy firm KPMG, and CII and FICCI. Interestingly, of the five top States, four are ruled by the BJP, and one (Andhra Pradesh) by the Telugu Desam Party, an ally. “The assessment, which is the first of its kind, has been conducted to take stock of reforms implemented by States in the period January 1 to June 30, 2015, based on the 98-point action plan for business reforms agreed between the DIPP and States last December,” Additional Secretary Shatrughna Singh said releasing the report on Monday. The report would give potential investors an idea of the environment prevailing in different States and is also aimed at helping the states identify areas they need to improve in. The exercise is part of the Centre’s efforts to improve the country’s ranking in the World Bank’s ‘Ease of Doing Business’ report, where it was placed a poor 142 among 189 countries in 2015. “These rankings were based on States’ performance in the identified areas only over six months,” pointed out Onno Ruhl, Country Director, World Bank. Next year, when the rankings would be based on a full year’s performance, they may change, he added.
SOURCE: The Hindu Business Line
India can potentially achieve a growth rate of 8% over the next five years through 2019-20, based on “bottom-up factors and structural reforms”, Goldman Sachs said on Monday. The country has the potential to grow at even 9% annually if reforms are undertaken at a faster pace in labour, infrastructure and education, it added. The potential growth rate marks an improvement from 7% in the last three years under the new GDP series, Goldman said. In the current fiscal, the economy could grow 7.5%, compared with 7.3% in 2014-15, according to Tushar Poddar, chief India economist, Goldman Sachs. “We show that India’s growth model is likely to be based on productivity growth and domestic demand driven, which is distinct from the East Asian model of large-scale capital investments and a state-led push for manufacturing exports,” Goldman said.
A convergence of technology, gains in education, and improving ease of doing business due to less red tape could be the key drivers of growth, it added. It forecast that by 2020, India’s economy could gain over 300 million more internet users and 50 million more high-school graduates. It is already adding 2 lakh bank accounts daily, and nearly 800 government services have moved online, reducing red tape, Goldman noted. “These changes can allow the economy to leapfrog a generation of creating physical infrastructure in retail, banking, and government services, and lead to a jump in productivity. In our baseline projections, the coming together of these forces can provide a substantial boost to GDP growth. It said services have tended to be a much larger source of jobs in emerging markets, including India, than manufacturing.
SOURCE: The Financial Express
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 45.11 per barrel (bbl) on 14.09.2015. This was lower than the price of US$ 46.13 per bbl on previous publishing day of 11.09.2015.
In rupee terms, the price of Indian Basket decreased to Rs 2993.70 per bbl on 14.09.2015 as compared to Rs 3062.25 per bbl on 11.09.2015. Rupee closed stronger at Rs 66.37 per US$ on 14.09.2015 as against Rs 66.39 per US$ on 11.09.2015. The table below gives details in this regard:
|
Particulars |
Unit |
Price on September 14, 2015 (Previous trading day i.e. 11.09.2015) |
Pricing Fortnight for 01.09.2015 (Aug 13 to Aug 27, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
45.11 (46.13) |
46.03 |
|
(Rs/bbl |
2993.70 (3062.25) |
3024.17 |
|
|
Exchange Rate |
(Rs/$) |
66.37 (66.39) |
65.70 |
SOURCE: PIB
India is likely to sign the comprehensive Free Trade Agreement (FTA) with Australia and Chile soon following a renewed push to the pacts. "We are very close to signing FTA with Chile. We are also having next level discussion with Australia for FTA agreement and we hope to conclude soon," Department of Commerce Joint Secretary Dammu Ravi told reporters. He was speaking on the sidelines of industry consultation meeting on Regional Comprehensive Economic Partnership (RCEP) Negotiations organised by CII here. He interacted with industry members to better understand the Indian industry's concerns. Ravi also said that the Centre hopes to sort out problems in Broad-based Trade and Investment Agreement (BTIA) with European Union (EU) and FTA with the European Free Trade Association (EFTA).
FTA allows duty-free or low-duty trade in merchandise between the signatories. Ravi said that the Euro crisis, Yuan devaluation and slowdown in global economy may hit India's exports and government is taking measures to boost exports. The Joint Secretary said that the process of RCEP will only go forward with the industry's input and how the industry drives it. According to Ravi, the next round negotiations on RCEP agreement is scheduled to be held at Busan in South Korea in October this year. The negotiations have moved into advanced stage as members are now finalising the tariff modalities. Ravi emphasised that around the world tariffs have come down and hence tariffs are not a major issue these days and said non-tariff barrier is emerging as a major roadblock and this needs to be tackled through these trade agreements. "RCEP will help India further the aims and objectives of its own "Look-East Policy. If RCEP materialises, it is supposed to be one of the most vital free-trade blocs in the world," Member of the Group Executive Board, Mahindra & Mahindra Anish Shah said. "The combined geo-political resources would put the grouping into a totally different league, making it the most important economic grouping of the world," he added.
RCEP negotiations involve 10 members ASEAN regional block and its six FTA partners that includes India, China, Japan, South Korea, Australia and New Zealand. RCEP negotiations have become extremely important for Indian industry because of the presence India's major trade and investment partners such as China, Japan and South Korea in it. Since the negotiations have entered an advanced stage, Indian industry across all sectors need to flag their concerns to government's negotiators urgently, Ravi added.
SOURCE: The Economic Times
The Pakistan Commerce Minister Khurram Dastgir Khan on the back of worrisome performance of the export sector has formed a three-year plan called "Strategic Trade Policy Framework (STPF) - 2015-18 to make a big push in exports particularly to the booming regions like Middle East Africa, South East Asia and China which has been okayed by the Cabinet Committee on Production and Exports. Low-cost finance reduction in procedures cheaper cargo and freight services regular supply of electricity and gas and greater cooperation between the government and trade organisations are some of the incentives which are required to achieve the results.
The new target to boost exports to an all time high of 35 billion a year means that within three years the amount has to go up by nearly 10 billion which will require considerable effort by the industry businesses and services. Exports during the June 30-ended fiscal year 2015 totalled 24.2 billion against the official target of 27 billion. Fiscal year 2015 was the third consecutive year of declining exports. Compared to fiscal year 2014 exports in fiscal year 2015 were down 3.5 per cent. The exports were 25.1 billion in fiscal year 2014. The actual exports in fiscal year 2015 were only 25.1 billion against the government's target of 29.9 billion.
Finance Minister Ishaq Dar who chaired the Cabinet Committee on Production and Exports said that all steps will be taken to enhance export to the 35 billion level by 2018 by expanding production of all currently exported items and those with a future potential in the changing global market. While formulating the new strategy for higher exports they have taken into account the potential of the industry and the economy as well as the hurdles in growth which restrained the output. These hurdles include the continued shortage of electricity and gas rising cost of doing business appreciation of the rupee against the dollar and other currencies as well as the growing foreign competition particularly to their textiles.
The STFP has outlined the potential markets which will be targeted to enhance exports. The focus for export of high-quality "Basmati" rice will be the Middle East Saudi Arabia the UAE and Iran. Pakistan will make a push for export of its fruits including oranges mangoes vegetables potatoes onions and halal meat products to the Middle East the UAE and Iran. South East Asia will be the target for export of horticulture products. India Sri Lanka Afghanistan and Africa are identified for export of cement. Pakistan will offer a freight subsidy for export of cement to Africa. Items marked for export to China are rice cotton yarn fabrics and ready-to-wear garments. Wheat rice meat and cement are identified for export to Afghanistan. In order to expand trade border marketing support development expansion of banking facilities improvement of the rail-link and infra-structure development will be undertaken. Products destined for the Iran market will include provision of warehousing support product branding "halal" certification.
The STFP provides Rs20 billion for research and development to expand and upgrade Pakistani exports and to achieve the targets set by this plan. The government has also decided to undertake immediate steps for expanding farm products further improving the quality and range of products especially fruits and vegetables commodity pricing and to examine the input cost which will have to be restrained in order to ensure expansion of exports and enable the country to counter foreign competition. The government will have a deeper look at other hurdles being faced by exporters. These issues relate to R&D technology problems moving out of the current concentration of traditional products improvement of resources and financing of the potentially exportable products upgradation of all products including those needed to match with the new and developing demands of the consumers in foreign markets where incomes living standards and lifestyles are changing and rising Commerce Minister Dasgir said.
The government's Committee on Ease of Doing Business the State Bank of Pakistan (SBP) the central bank Ministry of Commerce and Ministry of Textiles will work jointly to achieve these objectives. Pakistani fashion industry is constantly increasing its exports and arranging fashion show in the UAE Qatar and other foreign markets. One has to look at the latest foreign trade statistics in order to understand the importance of export volumes and values in the context of the entire external balances. Some improvement is visible in this sector according to the latest SBP statistics. SBP said that the current account deficit has narrowed down by 80 per cent to 150 million in July - the first month of fiscal year 2016.Both exports and imports drop down in July. Exports were down to 1.76 billion from 1.91 billion in the same month last year. Imports declined to 3.5 billion from 4 billion in the two comparable months.
FDI inflows were 75 million compared to 18 million in the two comparable months. For the whole of fiscal year 2015 the overall current account deficit was 2.3 billion - 27 percent lower than the deficit in FY-14. Fiscal year 2015 saw the overall imports totalling 41.13 billion as compared to 41.66 billion in fiscal year 2014. The foreign exchange reserves on September 3 were 18.497 billion of which SBP held 13.458 billion enough to cover imports for three months. The forex reserves held by commercial banks were 5.050 billion. Analysts and businesses are also questioning the current rupee-dollar parity. They claim that devaluing the rupee to a "realistic level" can reduce the current export slowdown. The open market rate of dollar was Rs104.45/104.65 and Rs103.80/104 in the inter-bank market over the weekend. Institute for Policy Reforms a research group said: "The rupee remains significantly overvalued which has impaired the competitiveness of our exports." Several businessmen said the rupee is overvalued up to five percent against the dollar and lowering it will help exports to rise. But the government has taken no decision on such claims.
SOURCE: Yarns&Fibers
The Indonesian Minister of Industry Saleh Husin led delegation to Poland has shaped several agreements and concrete results. According to Saleh Husin, firstly Indonesian products have got entrance to Central Europe and other European region with Poland giving those opportunities to utilize their ports. Saleh Husin, in Warsawa, Poland, after signing a Memorandum of Understanding (MoU) between Indonesia Ministry of Industry and Poland Ministry of Economy, on Thursday said that this is expected to boost Indonesian exports.
In Poland side, signed was conducted by Minister of Economy and Vice Prime Minister of Poland, Janusz Piechocinski. The MoU includes the development of the chemical industry, maritime, parts and components, industrial machinery, especially for mining and fire departments, special steel industry, food processing and medical equipment industries. The second important result was the Poland government gave an opportunity for Indonesia to export textile products and other commodities. They also agreed in establishing industrial cooperation and investment. The third result was a partnership in education carried out by Alstom Power with Institut Teknologi Bandung (ITB). The famous multinational company in engineering technology gave an opportunity for about 20 ITB students to study and work (internship) at the Alstom’s mill power plant turbine manufacturer Alstom. Saleh said that by the end of September, approximately 20 Polish entrepreneurs will be visiting Indonesia.
SOURCE: Yarns&Fibers
The Ghent Fair, a 70-year-old traditional and largest consumer Trade Fair opened at Ghent, Belgium, with Pakistan as the guest-of-honour country. The opening was attended by a large number of VIPs, including ministers, European Union government officials and ambassadors of different countries. Representative of the king of Belgium, president of the government of Flanders, governor and deputy mayor of Flanders were among the attendees. Pakistan returns to the Flanders Trade Show with resounding success after a lapse of fifteen years. The fair would focus on textile fabrics and garments, home textile, bed linen, including bed sheets and covers, towels, curtains etc. Apart of this, the rice fruit and vegetables and other food products, sports goods, surgical and dental instruments, carpets and rugs, leather garments, and leather goods, footwear, sanitary wares, gems and jewellery, handicrafts, herbal products, cosmetics and healthcare will also include in the fair.
In the opening address, Ghent trade fair Chairman Ronald Everaert welcomed the Pakistani delegation and exhibitors. He spoke about the trade potential between the two nations and described at length the ancient history and cultural diversity of Pakistan. He hoped that this trade fair would help develop important trade and cultural linkages between the people of the two countries. Pakistan’s Ambassador to Belgium Naghmana Hashmi was also present at the event and spoke about the efforts being made by the Pakistani government for national development and the road towards Pakistan Vision-2025.
Trade Development Authority of Pakistan (TDAP) Secretary Rabiya Javeri Agha talked about the potential of Pakistani products in international market. Cotton is one of their agricultural and export mainstays. Pakistan has the complete value chain of textile and cotton products. She said that Pakistan’s trade figures to Belgium itself showed a good increase of up to 11 percent this year, with home textiles reflecting a growth of 26 percent.
Pakistan pavilion at Ghent trade fair showcased different products of Pakistan from leather to textile to surgical and sports goods. Their presence generated a good response from the visitors present. People showed interest in different products, the embroidered handicrafts, the carved furniture and intricate jewellery on display. It also showcased the cultural side of the country and presented a display of cloth paintings by Masuma Halai. Although the Ghent Fair is a consumer trade fair, during the seminar contact days, B2B relations are the centre of attention. The nine-day international trade exhibition which began on September 12 is organised in the Flanders Expo Exhibition Venue, in the city of Ghent, Belgium, heart of Europe would run till September 20.
SOURCE: Yarns&Fibers
In addition to building the capacities of the Ghana Immigration Service and Custom Division of Ghana Revenue Authority to prevent any sub-standards goods entering into the country, the country’s borders need to be strengthened for which Lawrence Osei-Boateng, Senior Commercial Officer, Ministry of Trade and Industry has proposed a national taskforce on illicit trade on all products across the country to clamp down on counterfeit products. Mr Osei-Boateng speaking on the topic, Illicit trade and counterfeit goods, at panel discussion in Accra on the Ghana Journalists Association programme said that on September 3, the Ministry seized 165 pirated textiles and arrested perpetrators at Makola Market to serve as a deterrent to potential offenders. He said that the issue of pirated goods is worrying because it affects the businesses of local manufacturers and called for concerted efforts to address the problem.
Mr Osei-Boateng observed that, in 2006 the Ministry in collaboration with the textile industry set up a taskforce on counterfeit textiles and that pieces of pirated textiles had been seized from warehouses and the open markets, which had been destroyed as part of efforts to save the local textile industry. The pirated textiles had fake patent or registered logos of local manufacturing companies such as the Akosombo Textiles Limited, Ghana Textiles Print, and Printex as well as copied labels of the Ghana Standards Boards. Mr Osei-Boateng said that the influx of pirated textiles in the country prevent potential investors into the country because organisations would like to invest in an atmosphere of sound, quality and safe environment. Mr Charles Asante-Bempong, Project Manager of the Ghana Employers’ Association said that the body supports and promotes the economic and social interest of employers to ensure peace and national growth. Mr Asante-Bempong said that the association has organised a stakeholders' workshop in Accra to sensitise the public on the fight against the influx of counterfeit products and illicit trade on the Ghanaian market. He expressed concern that the low penalty fee for pirated textiles are not punitive enough and urged the government to review the amount to make it more proactive and minimise the flow of fake goods.
According to Mr Maxwell Kogbe, Standards Officer at the Ghana Standards Authority, most of the pirated goods entered into the country’s market through unapproved points and that the Authority is working to combat the issue and called on the public to report any such activities to facilitate the process. Mrs Owusua Adansi Ofori, Senior State Attorney of the Registrar General’s Department said that there is the need to collaborate with stakeholders to intensive education on counterfeit products and intellectual property rights to address the problem.
SOURCE: Yarns&Fibers
