|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1079.01 |
USD/Ton |
0% |
10/22/2015 |
|
VSF |
2291.72 |
USD/Ton |
0.34% |
10/22/2015 |
|
ASF |
2292.50 |
USD/Ton |
0% |
10/22/2015 |
|
Polyester POY |
1009.02 |
USD/Ton |
-0.23% |
10/22/2015 |
|
Nylon FDY |
2532.37 |
USD/Ton |
0% |
10/22/2015 |
|
40D Spandex |
5426.51 |
USD/Ton |
0% |
10/22/2015 |
|
Nylon DTY |
2481.25 |
USD/Ton |
0% |
10/22/2015 |
|
Viscose Long Filament |
1080.58 |
USD/Ton |
-0.43% |
10/22/2015 |
|
Polyester DTY |
2768.30 |
USD/Ton |
0% |
10/22/2015 |
|
Nylon POY |
5863.77 |
USD/Ton |
0% |
10/22/2015 |
|
Acrylic Top 3D |
1281.91 |
USD/Ton |
0% |
10/22/2015 |
|
Polyester FDY |
2359.35 |
USD/Ton |
0% |
10/22/2015 |
|
30S Spun Rayon Yarn |
2862.68 |
USD/Ton |
0% |
10/22/2015 |
|
32S Polyester Yarn |
1745.92 |
USD/Ton |
0% |
10/22/2015 |
|
45S T/C Yarn |
2721.12 |
USD/Ton |
0% |
10/22/2015 |
|
45S Polyester Yarn |
1903.21 |
USD/Ton |
0% |
10/22/2015 |
|
T/C Yarn 65/35 32S |
2312.16 |
USD/Ton |
0% |
10/22/2015 |
|
40S Rayon Yarn |
3004.24 |
USD/Ton |
0% |
10/22/2015 |
|
T/R Yarn 65/35 32S |
2595.29 |
USD/Ton |
0% |
10/22/2015 |
|
10S Denim Fabric |
1.10 |
USD/Meter |
0% |
10/22/2015 |
|
32S Twill Fabric |
0.93 |
USD/Meter |
0% |
10/22/2015 |
|
40S Combed Poplin |
1.01 |
USD/Meter |
-0.77% |
10/22/2015 |
|
30S Rayon Fabric |
0.75 |
USD/Meter |
0% |
10/22/2015 |
|
45S T/C Fabric |
0.75 |
USD/Meter |
0% |
10/22/2015 |
Source: Global Textiles
Note: The above prices are Chinese Price (1
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
The Union Ministry of Textiles urged to facilitate opening of common selling offices or facilitation centres in China to encourage close interaction among Indian industrialists and prevent buyers exploiting them, said Indian Texpreneurs Federation (ITF) secretary D Prabhu Dhamodharan in a memorandum to the Ministry Secretary S K Panda. Common selling centres were necessary as Chinese yarn buyers and traders, as a cartel, have been crushing Indian yarn manufacturers in recent times. To counter them and this would strengthen the Indian buyers' position with constant market intelligence. As industry stakeholders would bear all expenses, the Ministry, has only to facilitate it. As the first step, should organise meetings of yarn and cloth manufactures in the South and North separately. In the South, the ITF itself could take the lead in organising the event. The secretaries and joint secretaries concerned should also participate in the meeting and guide the industry, he added. He also said that instead of waiting for mega trade agreements to be signed, the Ministry should initiate textile-specific agreements quickly for untapped markets. A strong recommendation to Commerce Ministry is necessary to expedite the process, he said. Another point made in the memorandum is rationalisation of duties on man-made fibre for Indian products to compete in the international market. He also added that interest subvention for export of yarn and fabrics will boost exports and support the domestic market. According to Prabhu Dhamodharan, this is the only way to achieve the targeted growth in the export market. Continuous decrease in export of MMF goods and increase in imports of MMF-based products are clear indications of the international trend.
SOURCE: Yarns&Fibers
India's goods exports contracted for a 10th straight month in September, surpassing the prolonged decline during the 2008 financial crisis. With the International Monetary fund (IMF) and the World Trade Organization (WTO) lowering their target for world trade, India's growth faces an export challenge. "It is due to the combination of weak global demand and the fall in commodity prices," says Devendra Pant, chief economist, India Ratings. The IMF lowered its forecast for world trade to 3.2 per cent in 2015, from its July forecast of 4.1 per cent. Projections for emerging markets were cut to 1.3 per cent, from 3.6 per cent in its July forecast. In large parts, the revisions are on account of a slowdown in China. It will have a limited direct impact on India as China accounts for only four per cent of India's goods exports but the indirect impact is likely to be severe. The Asia region accounts for 48 per cent of our exports but is closely integrated with the Chinese economy. Chinese imports fell 20 per cent in September, indirectly impacting India.
Exports decline to continue this year In the longer term, India's exports to Asia could become a victim of the new Trans-Pacific Partnership (TPP) that absorbed a quarter of our exports in the past financial year. TPP countries are likely to give special trading status to each other and India will suffer. The sharp fall in crude oil prices has also played a part in lowering export growth. Petroleum and crude products account for a fifth of India's goods export basket. "Lower crude oil prices also impacted our exports of refinery products, which declined in value terms," said a research note prepared by CARE Ratings. However, non-oil exports are shrinking as well, in line with the decline in global trade. According to Aditi Nayar, senior economist at rating agency ICRA, "In addition to the decline in crude oil prices, the correction in prices of other commodities and the pass-through to final goods, have contributed to the fall in value of Indian exports."Even if one excludes commodities, exports of manufactured products also declined.
In the first five months of the financial year from April to August exports of manufactured goods fell to $82.5 billion from $86.3 billion in the same period last year, with declines across almost all product categories. Experts contend that in the absence of a significant pick-up in global demand and commodity prices, exports are unlikely to go up in the near term. This could be a drag on growth as merchandise exports account for around 18 per cent of GDP. Reflecting the skepticism, Nayar says, "In ICRA's view, merchandise exports are likely to record a double-digit decline in the current year, unless commodity prices stage an appreciable recovery." CARE Ratings too expects exports to contract by eight to 10 per cent this financial year. This decline in exports will exert negative pressure on growth, given the high share of exports in GDP.
SOURCE: The Business Standard
India is top trade facilitation performer in South Asian sub-region while Singapore and Korea lead East Asia in moving goods effectively, a UN report said. The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), together with all four other UN regional commissions, has launched the first global report on implementation of measures to simplify import, export and transit procedures. The inaugural Global Report of the Trade Facilitation and Paperless Trade Implementation Survey provides data for 119 countries and serves as a useful basis for benchmarking and monitoring trade facilitation performance. Within the Asia-Pacific region, the report shows "Singapore and the Republic of Korea leading East Asia in moving goods effectively. "India tops the South Asian subregion, with Russia and Turkey leading in Europe and Central Asia. The top trade facilitation performer among these economies is the Netherlands," a UN release said.
UN Under-Secretary-General and Executive Secretary of ESCAP Shamshad Akhtar said these 'next generation' trade facilitation measures have great potential to reduce costs and boost trade, increasing the Asia-Pacific region's export potential by more than USD 250 billion annually. "This can only be achieved, however, through more effective cooperation between countries at the regional and global levels," Akhtar said. The report outlines the extent to which key measures of the recent WTO Facilitation Agreement are currently being implemented, showing that a significant number of developing economies, particularly in East Asia, Latin America and the Caribbean, have already acted on many of the commitments associated with the arrangement.
For most countries, however, much still remains to be done. An integrated step-by-step approach is suggested, starting with building up institutional arrangements and inter-agency cooperation. "Overall, the report finds that most economies have already taken concrete steps towards streamlining trade procedures," the release said. According to the new report, efficient movement of goods is key to maintaining trade competitiveness, and enabling effective engagement of firms, in particular small and medium enterprises, with regional and global production networks. The global average implementation rate of the ambitious set of trade facilitation measures considered in the report is about 53 per cent. Developed economies average more than 75 per cent implementation, while Pacific Island developing economies barely reach 26 per cent.
SOURCE: The Economic Times
India Inc has emerged as the second most optimistic in terms of business optimism globally with a survey showing that 86 per cent of Indian respondents are bullish about an increase in revenue of their companies. According to the Grant Thornton International Business Report, a quarterly global survey of 2,580 business leaders, India ranked second after Ireland in terms of the business optimism. Business confidence and expectations for revenue and exports are down in several major economies that have China as a major trading partner. "India is relatively insulated from the slowdown in China and sees a slight gain in confidence, despite falling exports," the survey said while taking note of RBI's recent interest rate cut by 50 basis points to support growth.
As per the survey, 86 per cent Indian businesses are optimistic about an increase in revenue compared to 83 per cent last quarter. Moreover, Indian businesses are also positive about profitability with 69 per cent respondents expecting a rise in the profits. "Indian businesses have been consistently optimistic in their business outlook over the past decade barring a couple of quarters. This is based on the underlying strength of the economy, the consistent high growth rate, the entrepreneurial dynamism in being able to create new opportunities and businesses and the lower reliance on global trade based on significant domestic demand," Grant Thornton India LLP Partner - India Leadership team Harish HV said. However, there was further fall in optimism on the rise of employment aspect with only 52 per cent Indian businesses hoping for the same. "The concern based on the results of this survey is the pessimism on employment, which is a key factor and need for the country given the demographic dividend which could turn into a demographic nightmare without adequate employment generation. The Government's thrust on 'Make in India' needs much more push to make it a reality and that could salvage the situation," the report added.
SOURCE: The Business Standard
Global rating agency Moody’s on Thursday said that India is less exposed to external risks than the other sovereigns in emerging market pack. “The positive outlook on India’s Baa3 rating reflects our view that the relatively resilient growth and the policy reform momentum will slowly stabilise inflation. It also is expected to improve the regulatory environment, increase infrastructure investment and lower government debt ratio,” Moody’s Investors Service said in a statement. The financial market turbulence in emerging markets over the past two years has highlighted the differing shock-absorption capacities among the five largest Baa-rated emerging market sovereigns. These five countries are- Turkey (Baa3 negative) , Brazil (Baa3 stable) , South Africa (Baa2 stable) , India (Baa3 positive) and Indonesia (Baa3 stable) . For many of these sovereigns, varying degrees of turbulence were prompted by capital outflows in anticipation of the US Federal Reserve’s planned hike in the interest rate and sharper-than-expected slowdown in growth in China. Indonesia remains exposed to financial market turbulence and also has strong links to China and thus exposure to China-related risks. While its economic growth is consequently slowing down, this is occurring from a high level and still remains robust relative to peers. This, along with its low level of government debt, to some extent offsets the external risks to Indonesia's sovereign credit profile. hence the stable outlook on its Baa3 rating.
SOURCE: The Business Standard
To strengthen cooperation and to render sustained mutual assistance and advice on merchant shipping, India and Egypt would sign an agreement on maritime transport soon. The agreement will help, both countries to encourage and facilitate the development of their maritime relationship and cooperate in the task of enhancing and stimulating steady growth of maritime traffic. It will also assist in exchanging and training of staff and students from various maritime establishments, exchange-of information necessary for accelerating and facilitating the flow of commercial goods at sea and at ports, establishment of joint ventures in the fields of maritime transportation, shipbuilding and repairs, maritime training, information technology including development of simulators, port facilities and related maritime activities, etc. The decision on the signing of the agreement was taken in the cabinet meeting held here today.
SOURCE: The Business Standard
India and Russia have discussed ways to boost their economic ties and triple their bilateral trade to $30 billion in the next decade. External Affairs Minister Sushma Swaraj and Russia's Deputy Prime Minister Dmitry Rogozin, chairing the 21st India-Russia Inter-Governmental Consultations yesterday, also looked at ways to enhance the mutual direct investment to $15 billion by 2025. Both sides identified various sectors to achieve these commercial targets, agreed upon by Prime Minister Narendra Modi and and Russian President Vladimir Putin during their summit meeting last year. Bilateral trade in 2014 amounted to $9.51 billion, with Indian exports touching $3.17 billion and imports from Russia stood at $6.34 billion. Agriculture, pharmaceutical and infrastructure were some of the areas identified by both sides to strengthen their economic engagement. While economic agenda was one of the focus areas in the consultations today, the other areas deliberated upon were space, energy, culture and science and technology. Officials said India also reiterated its commitment to work towards having 12 Russian nuclear plants as was agreed between Modi and Putin.
Russia is an important partner for India in peaceful uses of nuclear energy. Earlier, Swaraj interacted with top Russian Indologists. The Indologists briefed her about their work including translations of the Ramayana and the Mahabharata as well as teachings of Indian languages. In her remarks, Swaraj said the hallmark of Indian literature and culture has been respect for all points of view. "From translations of Ramayana and Mahabharata to Rabindra Sangeet and teaching of Indian languages, Russian Indologists briefed the External Affairs Minister on their work," spokesperson in the Ministry of External Affairs Vikas Swarup said.
SOURCE: The Economic Times
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 45.34 per barrel (bbl) on 20.10.2015. This was lower than the price of US$ 46.47 per bbl on previous publishing day of 19.10.2015.
In rupee terms, the price of Indian Basket decreased to Rs 2942.04 per bbl on 20.10.2015 as compared to Rs 3012.31 per bbl on 19.10.2015. Rupee closed weaker at Rs 64.89 per US$ on 20.10.2015 as against Rs 64.82 per US$ on 19.10.2015. The table below gives details in this regard:
|
Particulars |
Unit |
Price on October 20, 2015 (Previous trading day i.e. 19.10.2015) |
Pricing Fortnight for 16.10.2015 (Sep 29 to Oct 13, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
45.34 (46.47) |
47.70 |
|
(Rs/bbl |
2942.04 (3012.31) |
3115.29 |
|
|
Exchange Rate |
(Rs/$) |
64.89 (64.82) |
65.31 |
SOURCE: PIB
The Ministry of Planning and Investment (MPI) has warned agencies of a boom in textile and garment industrial zones in cities and provinces ahead of the Trans-Pacific Partnership (TPP). After the successful negotiation of the TPP recently, many cities and provinces have announced plans to open or enlarge their textile and garment industrial zones (IZs) in a bid to seize opportunities from the trade pact as international experts forecast that of the 12 countries that are party to the TPP, Viet Nam would see the biggest benefits in terms of economic impact. Viet Nam's apparel and shoe manufacturers will also profit from lower import duties with the United States and Japan, they said. HCM City, for example, has just announced the opening of seven new IZs mainly for textile and garment projects with a total area of roughly 2,000ha to prepare for the expected investment inflow.
In the southern province of Long An, infrastructure construction companies such as Tan Tao and Dong Tam have also asked for adding weaving and dyeing sectors in its IZ construction planning. According to authorities in the Tin Nghia Industrial Zone in the southern province of Dong Nai, many foreign textile and garment investors have also asked for land to be leased in the zone. To date this year, many foreign textile and garment investors have already set up production plants in the existing industrial zones. In the southern province of Long An alone, according to the province's Economic Zone Management Board, as of September 30, it received 122 investment projects, mainly in textile, weaving and dyeing, footwear and plastics. The number was up 14.02 per cent against the same period last year. While admitting that the development of the zones would help the textile and garment industry become more competitive and contribute to reducing the country's trade deficit thanks to the use of domestic materials and accessories instead of importing sources as previously done, the MPI was also concerned about the environmental pollution as well as the imports of out-of-date and fuel consuming equipment and technology of the zones, as per a document sent to People's Committees of cities and provinces last week. According to the ministry, to capitalise on the TPP, besides paying attention to the occupancy rate, the construction of textile and garment IZs must also meet regulated standards on technology and environment.
Besides closely supervising the IZs' construction, municipal and provincial People's committees also need to strictly obey appraisal regulations, especially the use of projects' technologies, when licensing the projects, according to the MPI. Cities and provinces must also map out plans to closely watch the IZs' environmental protection as well as projects in the zones. It is also necessary to assess labour demands of the IZs to be able to provide suitable human resources, according to the ministry.
SOURCE: The Vietnam News
Vietnam Textile & Garment Exhibition (VTG) held in HCM City commenced yesterday and has attracted international exhibitors and buyers from over 15 countries. Around 125 companies from all over the world have brought machinery for sewing, knitting, spinning, cutting and printing fabrics, processing fibres, and embroidering, garment accessories, dyes and other products in the exhibition. These firms came from Taiwan, Hong Kong, India, Korea, Malaysia, Thailand, Turkey and other countries to display the products and services. This Trade Show is a 4 day event and will end on 24th October which would be a significant event in the context of Viet Nam signing off on the Trans Pacific Partnership (TPP) and free trade agreements with Korea and the Customs Union of Russia, Belarus and Kazakhstan and the December inauguration of the ASEAN Economic Community.
Vietnam's garment exports to the US, EU, Japan, and Korea would enjoy preferential tariffs after all the agreements take effect, said Nguyen Hong Giang, general secretary of the Viet Nam Cotton and Spinning Association. Nguyen further added that it would help exports of Vietnam to grow internationally and compete with other exporting countries. In order to produce garments, Vietnam requires 8.5 billion metres of fabric per year but manufactures less than 3 billion metres, he said. So, there is a need to increase the fabric production in Vietnam, said Nguyen. He believes that this exhibition would help the producers to meet the textile machinery firms for the same.
SOURCE: Yarns&Fibers
The All Pakistan Textile Mills Association (APTMA) Central Chairman Tariq Saud has said the textile industry exports have once again plunged in quantity terms all around the sub-sectors. “The Federal Bureau of Statistics data shows that the textile industry exports have dropped both in quantity and value terms in the month of September 2015 against the corresponding period,” he added. He said APTMA has been bringing to the notice of the government about an unprecedented declining trend in exports over the last one year. “One of the major factors of this drop in exports is the ever-high and unbearable cost of energy, both gas and electricity,” he added. He pointed out that some 70% of the textile industry is located in Punjab and a high cost of energy has hit hard to its viability and capacity to produce exportable surplus. “Once the industry is regionally competitive and uninterrupted energy is available at Rs 9/kwh and waiver of Gas Infrastructure Development Cess (GIDC), the industry is confident to catch up the shortfall by bringing its dormant and impaired capacities back on production track,” he hoped. He further pointed out that the fall in basic textile is far higher than the apparel exports. “The yarn has dropped by 14.5%, followed by cloth 22.43%, yarn other than cotton yarn 11.9%, bed wear 9%, tents and canvas 79% and art, silk and synthetic textile 67% in quantity terms,” he added. He said the apparel exports are down by 11.49% in readymade garments and 4.3% in knitwear in spite of the GSP Plus Facility. He said the proportional fall of textile exports is far higher than the apparel sector in terms of quantity. “A strong textile industry is imperative to the growth of apparel sector both domestically and internationally and the time has come to join hands for an early restoration of viability of the textile industry,” he stressed. The APTMA chief urged the government to announce the remaining part if the textile package immediately in the larger national and economic interest.
SOURCE: The Daily Times
Philadelphia University recently ranked as one of the best fashion design programs in the world, plans to set up Fashion and Textiles Futures Center which will include a US 3 million investment in facilities that will focus on the University's unique integration of education, research, practice and enhance partnerships with industry leaders. It will provide state-of-the-art facilities to support student learning and foster collaboration, facilitate industry-sponsored projects, increase research opportunities for undergraduate and graduate students and help attract and retain world-class faculty. Work on the physical space will begin in late spring and will be completed by the start of the fall 2016 semester. The plan includes enhanced collaborative design studios for students, fabrication laboratories, computer-aided design facilities and flexible active-learning classrooms. The educational programming will be further supported by the University's advanced digital printing facilities, among the best in the world, and the Grundy Materials Evaluation Laboratory.
The Fashion and Textiles Futures Center will expand experience for our students, faculty and partners, said Ron Kander, executive dean of the Kanbar College of Design, Engineering and Commerce. PhilaU fashion programmes are internationally ranked and our programmes in textiles and textile engineering are regarded as among the best in the nation. The new Center will enable us to continue our leadership in providing the best possible 21st-century professional education for our students and helping to define the industry needs of the future. The Fashion and Textiles Futures Center will include a retail-like space designed to mirror the workings of modern fashion and textile design firms and reflect the industry environments that students will work in after graduation. This area will be used to showcase the creative work of students and the University's industry partners and give fashion merchandising and management students the opportunity to hone marketing and merchandising skills by working on displays and presentations. Customers are always looking for new and innovative products and, as the apparel industry evolves, speed and flexibility are key factors that drive today's successes, said Matt Mandracchia, Vice President for Design Technologies and Process for PVH Corp., one of the leading apparel firms that includes such brands as Calvin Klein and Tommy Hilfiger.
Philadelphia University's Futures Center seeks to capitalize on these factors, providing a learning environment that promotes innovative thinking. Innovation supports speed and flexibility, helping students to learn and prepare for a fast-changing, product-centric career. The physical space will reflect and support the innovative curricula of these programmes as part of the University's signature Nexus Learning approach: teaching and learning that is active, collaborative, tied to the real world and infused with the liberal arts. A fundraising campaign to support the Fashion and Textiles Futures Center has been initiated, and top industry executives from such firms as PVH, Waterworks and Weitzer are leading the effort. The campaign has been kicked off with a US 500,000 donation from PhilaU benefactor Maurice Kanbar '52 H'03. In addition, a Leadership Committee representing diverse industry sectors and faculty members is being formed to guide and support the Fashion and Textiles Futures Center.
SOURCE: Yarns&Fibers
Malaysia to get benefit of free-trade access (FTA) with four countries the US, Canada, Mexico and Peru under the Trans Pacific Partnership Agreement (TPPA) with which it does not have any agreement yet, said Datuk Seri Mustapa Mohamed, Minister for International Trade and Industry. In some cases, the duties will be abolished with the implementation of TPPA, he said in Parliament yesterday. For example, with the TPPA, import duties for almost 73% of textile products to the US will be eliminated immediately. Without the TPPA, only 11% of textile products exported to the US enjoy zero tariff.
Malaysia hope the TPPA will spur investments in states which rely heavily on foreign investments such as Penang, Johor and Selangor. Mustapa also reiterated that the findings of cost and benefit on Malaysia’s participation in the trade pact will be unveiled to the Parliament in three months. Overall, the government is satisfied with the outcome of the TPPA negotiations as the country’s interests had been considered, with flexibility allowed for requests such as the Bumiputera agenda, government procurement and government-linked companies through such mechanisms as transition period and exemption for several entities. Mustapa said that a few issues have yet to be settled. Although the discussions have been finalised, there are several technical issues outstanding, and they are still negotiating via email.
China, the world’s second-largest economy had initiated a counter Regional Comprehensive Economic Partnership between 10 South-East Asian countries and Australia, India, Japan, South Korea and New Zealand. The TPPA is negotiated between 12 countries — the US, Japan, Mexico, Canada, Australia, Malaysia, Chile, Singapore, Peru, Vietnam, New Zealand and Brunei — which represent more than 40% of the world’s gross domestic product.
SOURCE: Yarns&Fibers
The 9th summit China-Latin America and Caribbean (LAC-CHINA) held at the Palace of Communication and Culture of Guadalajara, Mexico (13-15 October 2015), that recently concluded attracted with over 2,000 participants including nearly 1,500 entrepreneurs and Chinese investors from the textile industry, as per Haitian media reports. While the Directorate of Free Zones of the Ministry of Trade and Industry (DZF) has increased its contacts with Chinese operators in the sector, the National Society of Industrial Parks (SONAPI) won at least 10 promises of Chinese entrepreneurs which should soon visit the parks of the Society in Haiti for investments, including in the textile and footwear sectors.For Keren Marcellus and Marcus Boereau, representatives of the Investment Facilitation Center (CFI), the experience of LAC- CHINA proved clearly promising for foreign direct investment in Haiti. The Chinese are very interested to the country, especially in infrastructure construction, bio agriculture and textile manufacturing an interest reinforced for this last sector by the advantages of the HOPE act. Guy Lamothe, ambassador of Haiti in his speech at the summit said that Haiti could receive financial aid from the Bank of the BRICS (Brazils, Russia, India, China, and South Africa) nations since China is among the key founders. He stressed on improving the Haitian economy by focussing on investments in textile manufacturing with over 56% of the inputs are from China, agriculture and tourism sectors of the country.
SOURCE: Yarns&Fibers
