|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1066.58 |
USD/Ton |
-0.15% |
11/12/2015 |
|
VSF |
2275.89 |
USD/Ton |
-0.07% |
11/12/2015 |
|
ASF |
2035.13 |
USD/Ton |
0% |
11/12/2015 |
|
Polyester POY |
1017.96 |
USD/Ton |
-0.54% |
11/12/2015 |
|
Nylon FDY |
2470.39 |
USD/Ton |
-0.32% |
11/12/2015 |
|
40D Spandex |
5254.48 |
USD/Ton |
-1.47% |
11/12/2015 |
|
Nylon DTY |
2729.19 |
USD/Ton |
-0.57% |
11/12/2015 |
|
Viscose Long Filament |
5847.37 |
USD/Ton |
0% |
11/12/2015 |
|
Polyester DTY |
1266.56 |
USD/Ton |
-0.31% |
11/12/2015 |
|
Nylon POY |
2297.85 |
USD/Ton |
-0.34% |
11/12/2015 |
|
Acrylic Top 3D |
2211.59 |
USD/Ton |
0% |
11/12/2015 |
|
Polyester FDY |
1074.42 |
USD/Ton |
-0.72% |
11/12/2015 |
|
30S Spun Rayon Yarn |
2838.99 |
USD/Ton |
0% |
11/12/2015 |
|
32S Polyester Yarn |
1709.67 |
USD/Ton |
-0.91% |
11/12/2015 |
|
45S T/C Yarn |
2682.14 |
USD/Ton |
0% |
11/12/2015 |
|
45S Polyester Yarn |
1897.89 |
USD/Ton |
0% |
11/12/2015 |
|
T/C Yarn 65/35 32S |
2305.70 |
USD/Ton |
0% |
11/12/2015 |
|
40S Rayon Yarn |
3011.52 |
USD/Ton |
0% |
11/12/2015 |
|
T/R Yarn 65/35 32S |
2588.03 |
USD/Ton |
0% |
11/12/2015 |
|
10S Denim Fabric |
1.10 |
USD/Meter |
0% |
11/12/2015 |
|
32S Twill Fabric |
0.93 |
USD/Meter |
0% |
11/12/2015 |
|
40S Combed Poplin |
1.01 |
USD/Meter |
0% |
11/12/2015 |
|
30S Rayon Fabric |
0.75 |
USD/Meter |
0% |
11/12/2015 |
|
45S T/C Fabric |
0.75 |
USD/Meter |
0% |
11/12/2015 |
Source : Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15685 USD dtd. 13/11/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Only some land-levelling activities of the proposed textile park under the Scheme for Integrated Textile Parks (SITP), like the laying of the foundation stone for the construction of the compound wall and drainage construction has been carried out while all other construction activities have come to a halt due to the Handloom and Textile Department officials allegedly not releasing the share of the State government funds. Managing director of Gulbarga Textile Park, Subash Kamalapure, on Friday said that delay on the part of the Handloom and Textile Department officials to release the State government’s share of Rs. 2.5 crore released more than three years back was the main reason for stopping all construction work. The total cost of the project was Rs. 49 crore and Rs. 1.50 crore was the share of the Union government. The non-release of funds has also thwarted the Gulbarga Textile Park from getting the second installment of the cost of the project from the Union government. The textile park, which had attracted attention of major garment manufacturers like Raymonds, Levis and others, besides having common facilities like effluent treatment plant, washing facility, crèches for children of women workers and rest rooms, it would have work sheds with different sizes to accommodate different machineries used in the garment manufacturing. The textile park also planned to produce the gloves and masks used in industries and hospitals and sanitary napkins and diapers in a large scale. Mr. Kamalapure said that the government had earlier imposed one condition that the project should get final clearance of the Union Ministry of Textiles which they have already obtained the final clearance three years back and fulfilled the condition for the textile park. According to Mr. Kamalapure, the officials of the Handloom and Textile Department have added new condition that the promotors — Gulbarga Textile Park — should invest their equity amount of Rs. 1 crore in the park
Source: Yarn and fibre
The State government is giving subsidy up to 55 per cent to entrepreneurs who set up different kinds of textile units, Textile Commissioner Raju said on Wednesday. He was speaking at the inauguration of Adake mini-power looms, a private textile park in Wadagaon in Aurad taluk on Wednesday. He urged young people to invest in the sector. “You will not only be providing employment to several others but will also save the poor cotton farmers and traditional weavers in villages,” he said. Baburao Chinchansur, textile minister, inaugurated the factory. Baburao Adake, promoter and others were present.
Source: The Hindu
Welcoming the National Green Tribunal's order on lifting the ban on the operation of textile units in Rajasthan, the Southern India Mills Association (SIMA) has said that it was a big relief for the ailing textile industry. A press release from SIMA chairman M Senthilkumar said that the NGT, in its order has specified certain conditions to be fulfilled by the textile units such as installation of primary treatment plant, payment of security deposit ranging from Rs 2-5 lakh per unit, connecting all dyeing units to the Common Effluent Treatment Plant, fixing of meter in the borewell and flow meter for the water pipeline and disposing the sledge in specified areas. The NGT has also directed the Rajasthan Pollution Control Board to renew the consent immediately after fulfilling the conditions. “As majority of the dyeing units are prepared to reopen the units, the problems would come to an end very soon. This has already given a good signal for improvement in the yarn market,” said Senthilkumar who hoped that the textile industry would revive on a fast track immediately after Deepavali and perform well from the New Year. In May, the NGT bench of Jodhpur had ordered the closure of 739 textile units in Balotra and its surrounding areas of Jasol, Bithuja in Rajasthan, for non-adherence to norms laid down by Pollution Control Board. The weaving clusters in Maharashtra and Tamil Nadu, accounting to over 70 per cent of the powerlooms in the country and also the handloom clusters which were utilising the dyeing facilities in Rajasthan were seriously affected consequent to the closure of dyeing units in Rajasthan, he said. “It led to piling up of fabric stocks and affected the production flow across the value chain. The spinning sector which had been already suffering due to reduced exports got affected seriously resulting in lower capacity utilisation and crashed yarn prices, resulting in cash losses,” he added.
Source: Indian Express
The post of Chairman of the Empowered Committee of State Finance Ministers on the Goods and Services Tax (GST) seems to be jinxed. Following the resignation of KM Mani as Kerala’s finance minister, the Centre has to begin hunting for a new chief to head the committee. However, insiders say that State Finance Ministers are shying away from taking the post, or rather, most are turning superstitious. Past records show most of the heads have either faced electoral defeat or have had to quit the Cabinet. The issue has come to the fore once again after Mani resigned earlier this week. He had been selected as the Chairman of the Empowered Committee in March, succeeding former Jammu and Kashmir Finance Minister Abdul Rahim Rather. The Committee is expected to meet on November 20, ahead of the crucial Winter Session of Parliament in which the government hopes to get approval for the Constitutional Amendment Bill for GST. The Rajya Sabha has to pass the Bill in the upcoming session if the indirect tax reform is to roll out from April 1, 2016. “As of now, the meeting is scheduled for November 20. State Finance Ministers will have to discuss who among them should represent the States in negotiations with the Centre,” said a person familiar with the development.
Source: The Hindu Business Lines
Weakness in dollar against other currencies overseas ahead of the US retail data supported the domestic unit, forex dealers said. The Indian rupee appreciated by 11 paise to 66.20 against the US dollar in early trade on Friday on increased selling of the American currency by exporters. Besides, weakness in dollar against other currencies overseas ahead of the US retail data supported the domestic unit, forex dealers said. They, however, said a lower opening of the domestic equity markets, disappointing IIP numbers and rising retail inflation, capped the rupee’s gain. The rupee had gained 13 paise to close at 66.31 against the US dollar at the Interbank Foreign Exchange market on Tuesday. Forex market remained closed on Wednesday and Thursday on account of “Diwali Balipratipada’. The benchmark BSE Sensex dropped by 228.41 points or 0.88 per cent to 25,638.54 in early trade.
Source: Financial Express
India and the European Union are unlikely to conclude the free trade agreement negotiations in the “near future” given a complex nature of the the 28-nation bloc and its vast internal issues, Assocham said today. As negotiations for a broad-based Bilateral Trade and Investment Agreement (BTIA) with the European Union (EU) are heading “nowhere”, India should press for a separate free trade agreement with Britain, the industry chamber said. It would be much easier to negotiate and finalise a deal with Britain, which also needs a vast Indian market for reviving its economy, it added. “Given a complex nature of the EU structure and its vast internal issues, there is no likelihood of reaching a deal with the 28-nation bloc in the near future,” it said in a statement. Impetus for FTA with the UK should be given right away during Prime Minister Narendra Modi’s ongoing visit to the UK, the industry body said. Protracted negotiations with the EU on the trade opening pact are causing India a great opportunity cost, it said. Further, it said, “With global slowdown hitting our exports, India needs easier market access in major markets without much delay. So, why not have an independent FTA with the UK.’’
Given the vibrancy of the British economy and a growth potential in India, the two can work together for mutual benefit in the areas of high technology, financial services, education, health, IT, textiles, urban infrastructure and defence, the chamber said. Expressing disappointment and concern over the EU banning sale of around 700 pharma products clinically tested by GVK Biosciences, India had in August deferred the talks with the EU on the proposed free trade agreement.
Source: The Hindu Business Line
India considers Britain to be its gateway into Europe, Indian Prime Minister Narendra Modi said on Thursday when asked by a reporter about Britain's planned referendum on its membership of the European Union. "We continue to see the UK as our entry point into the EU," Modi, speaking via a translator, told reporters during a visit to Britain. British Prime Minister David Cameron plans to hold an in-out vote on Britain's membership of the EU by the end of 2017.
Source: The Hindu Business Line
India can be a China-like global growth powerhouse of the 2020s, but it needs to address several challenges, including infrastructure and the gender gap to realise the potential, Economist Intelligence Unit has said. “India is the only country that has the potential to change the world in the 2020s in the way that China changed it in the 2000s. It will probably take a little longer than that before India really takes off but, even so, it is going to be a global growth powerhouse of the 2020s,” EIU’s Chief Economist Simon Baptist said. In a newsletter, Baptist further said a key driver could be expanding India’s industrial base. Acknowledging that this was indeed the idea behind the government’s ambitious ‘Make in India’ campaign, a policy to turn the country into a manufacturing hub, he said “the pre-conditions for a Chinese-style take-off of manufacturing do not yet exist in India”. His comments follow a special report on ‘what is needed to unlock India’s growth potential’, prepared by EIU for ABB, a global leader in power and automation technologies. “Basic skills and education are at a much lower level than they were in China in 2001, when its manufacturing sector globalised. There is a huge gender gap — narrowing in the case of education for girls, but still wide in employment. “A long-standing electricity deficit and massive infrastructure needs from urbanisation are also key challenges,” Baptist said. On the positive side, India has one thing that China has — the potential to be of interest as a huge market in its own right, as well as a base for export manufacturing. “One thing holding that back is the maze of state-level regulations and the lack of a truly national single market. While state-based competition can be beneficial, as those states with the will can move faster, those barriers will need to be removed for India to really capitalise on its potential,” Baptist added. A number of economists as also government leaders have talked about India replacing China as the next driver of global economic growth, but a number of experts have warned of the challenges that India faces to achieve this feat. Identifying India as one of the ‘few bright spots’ in an otherwise gloomy global economy, IMF has also projected that Indian economic growth is set to be higher than China’s. Finance Minister Arun Jaitley has also said the world needs more growth engines after the recent slowdown in China and India is well-positioned to capitalise on this opportunity and its economic growth is expected to improve despite global headwinds. After a drubbing for the NDA alliance in the politically important Bihar state elections, the Modi government has this week announced a slew of reform measures including for the power sector and on FDI regulations as it looks to reinforce its image as a growth-focused regime. About the results of the Bihar polls, Baptist said in a tweet that “India will still be growth hotspot, but we are revising down our 2018-2020 forecast as the Bihar problem means no Upper House majority for Modi”.
Source: The Hindu Business Line
The government has appointed Subir Gokarn, former Deputy Governor at the Reserve Bank of India, as the region’s Executive Director at the IMF. “The Appointments Committee of the Cabinet has approved the proposal for appointment of Subir Gokarn, Economist, as Executive Director representing the Indian Constituency (India, Bangladesh, Bhutan and Sri Lanka) at the International Monetary Fund,” said an official release on Thursday. Gokarn, who is currently Director of Research at Brookings India, will succeed incumbent Rakesh Mohan at the IMF.
Source: The Hindu Business Line
CHINA’S manufacturing industry is losing out to the United States in cost advantage, a report has suggested. Prices of energy, logistics and some raw materials in China have surpassed those in the US, according to the 2015 China Purchasing Development Report, released yesterday by the China Federation of Logistics and Purchasing. The report said the US has slashed its energy costs with exploitation of shale gas, raising the competitiveness of American manufacturers. “Many raw materials are cheaper in the United States,” the report said. “For example, US cotton is 30 percent cheaper than that in China.” It also pointed out China’s price disadvantages in sectors including logistics and industrial land. Citing a survey by the Boston Consulting group, the report said the cost advantage of China’s manufacturing industry over the US has plummeted to 4 percent in 2014 from 14 percent in 2004. “If the trend continues, China’s cost advantage in manufacturing could be completely wiped out by 2020,” the report predicted. It suggested China steps up innovation and relies on made-in-China equipment and Chinese brands to sustain economic growth in the future.
Source: Shanghai Daily.
Morocco has an ambitious target to reach 6.5 billion dirham ($0.65 billion) of textile exports by 2020, Minister of Industry, Trade, Investment and Digital Economy Moula Hafid Elamaly has said, a Moroccan news agency reported. The goal is part of the Industrial Acceleration Plan and responds to the professionalism of the sector's operators, the minister asserted during the inauguration of the 13th “Maroc in Mode et Maroc Sourcing” fair organised by the Association Maroccaine des Industries du Textile et de l'Habillement (AMITH) in Marrakesh. Morocco's textile sector employs 30 per cent of the country's labour force and it is of a particular interest to the Ministry of Industry which supports it through the Industrial Development Fund (FDI), Elalamy said. The fair hosted 350 exhibitors representing different trends of the textile sector, according to the minister. Mohamed Tazi, Genreal, Director of AMITH, underlined that this fair is of a significant importance for textile's operators. Public authorities support the textile sector through a wide range of measures, which are likely to make Morocco a top textile actor in Africa and the Mediterranean, Tazi said. The sector represents 25 to 30 per cent of Morocco's exports and 15 per cent of the added value in industry.
Source: Fibre2fashion
Introduction of the latest technology, upgradation of products and blending of fashion designs can lead Bangladesh to become a leading denim exporting country in the globe, said experts, manufacturers and buyers. They also said that there was a possibility for Bangladesh to become number one denim exporter within 10 years but the country would have to introduce more transparent production system and sustainable wages for the workers. ‘There is a lot of opportunities for Bangladesh in the denim sector but fashion designing is very important to attract global buyers,’ Andrew Olah, the founder of Kingpins show, the largest denim show in the world, told New Age on Thursday. He said that to move the production of denim from lower-end to high-end entrepreneurs of Bangladesh would have to work with the government. Olah suggested use of natural resources like indigo, dyestuff and renewable energy in producing denim and denim products as global buyers are emphasizing on environmental compliance.
‘Everything is possible in Bangladesh as it is doing a very good job at production,’ he said. Ben Fokkema, founder of Amsterdenim, Netherlands, suggested that manufacturers should be more transparent. ‘Introduce sustainable and durable ways in the production process and make people happy on the floor,’ he said. Bangladesh has lots of creative people and there should be a scope for them to develop designs for denim, Ben said. Bangladesh should make more places for artists and designers to bring their arts in the show, he said. ‘The main target should be the upgradation of products and Bangladesh is already producing items with good level,’ Michele Grassellini, consultant of CCA and Partners, a German-based consultant clothing agency, told New Age. Bangladesh is producing items keeping the European market in mind, but the fashion trend is different in different countries, he said. Michele forecast that Bangladesh would be number one in next 10 years. ‘The denim sector of Bangladesh is showing its capability to the global buyers through the denim expo,’ said Faruque Hassan, vice-president of Bangladesh Garment Manufacturers and Exporters Association, referring to the two-day Bangladesh Denim Expo that ended on Thursday.
He said that the representatives from the global top brands and buyers visited the expo and they became convinced that Bangladesh was producing high-end and environment-friendly products. ‘Many new buyers have become impressed visiting such world standard expo and it is proved that Bangladesh is the right place for the RMG buyers and there is no security concern,’ Faruque said. ‘The global buyers who visited the expo were very much happy with the arrangement and they said that the RMG sector was moving forward due to the proactive role of the country,’ said former BGMEA presicent Anwar-ul-Alam Chowdhury Parvez. ‘We have an image crisis and we have to brand Bangladesh properly to regain the image as the global community does not know about the progress Bangladesh has already made,’ he said. Parvez said Bangladesh has immense potential to become a key sourcing hub of denim and denim products but the government will have to ensure energy, skilled mid-level management and certification on compliance from the North American and European retailers’ groups— Alliance and Accord. M Hassan, director of Amber denim, said it is important for Bangladesh that buyers were informed through the expo that the country is producing mid- and high-end products along with lower-end items. ‘Buyers always look for alternative and we are trying to give them confidence over the sourcing from Bangladesh,’ he said. The Bangladesh Denim Expo in Dhaka saw presence of a good number of foreign buyers. As many as 40 companies including 19 international companies from China, Germany, India, Japan, Pakistan, Singapore, South Korea, Thailand, Turkey and the United States took part in the exposition.
Source: New Age BD.
The Export Development Board of Sri Lanka is hosting the first high level Pak-Lanka business interaction forum to explore areas for enhancing trade relations and promoting bilateral investment between the two countries. IT will be held in Colombo on Nov 11, 2015. The Pak-Lanka trade and investment talks are taking place in furtherance to the understanding reached between Prime Minister Nawaz Sharif and Sri Lankan President Maithripala Sirisena in April this year when the latter visited Pakistan. The two sides had decided to take the bilateral trade and investment to new heights. The Trade Development Authority of Pakistan is also organizing the Pakistan Single Country Exhibition in Colombo from Jan 15 to17, 2016 to showcase the whole range of Pakistan’s industrial sector to Sri Lankan consumers. More than 150 Pakistani companies are likely to attend the event. Commerce Minister Khurram Dastgir Khan will lead a high-powered delegation to the Pak-Lanka business forum which will comprise public representatives and people from manufacturing sectors, cement, pharmaceutical, food and beverage, sugar, shipping and construction.During his three-day stay in Sri Lanka, the commerce minister will call on President Sirisena and Prime Minister Ranil Wickreme¬singhe. He is also expected to hold talks with Lankan Minister for Industry and Commerce Rishad Bathiudeen, Minister for Public Administration and Management Ranjith Madduma Bandara and Minister for Megapolis and Wes¬tern Development Champika Ranawaka. Pakistan is the second largest trading partner of Sri Lanka in Saarc whereas Sri Lanka is the first country to sign free trade agreement with Pakistan in July, 2002, which was put into operation in June, 2005. Pakistan is an important export market for tea, followed by rubber, betel leaves and tamarind. For Pakistan, Sri Lanka is an important market for textile, agricultural items, cement, GI pipe, pharmaceuticals and machinery.
Source: Yarn and fibre
Indonesian government had held a meeting with all stakeholders to discuss their preparation for joining the Trans-Pacific Partnership (TPP) at the Centre for Strategic and International studies (CSIS) in Jakarta on Wednesday, as Indonesia has to vastly improve the competitiveness of industrial sectors. According to the coordinating economic minister’s deputy for international economic and financial cooperation, Rizal Affandi Lukman, in order to improve competitiveness the government needs to remove various barriers, including logistics problems and the difficulty of acquiring land for industrial sites. As an example, he added, the government would examine the textiles and textile products industry and the footwear industry to improve their competitiveness. By strengthening technology innovation in textiles and footwear, their products will be competitive abroad, in countries such as Vietnam. He expressed optimism that all problems could be resolved before Indonesia joined the trade pact in the next two years. However, he admitted that it would take time to issue all the regulations needed to meet the standards set in the trade pact. It is because they need the House of Representatives to set up the regulations. For example, the TPP's investor-state dispute settlement (ISDS) allows investors to sue the government in international arbitration, while Indonesia's investment laws require consent from disputing parties before a matter is taken to international arbitration. This is what they should strive for, Rizal said, adding that the government was still itemizing regulations that needed stripping back in order to meet the TPP’s standards. Earlier, the Indonesian Textile Association (API) and the Indonesian Footwear Association (Aprisindo) had asked the government to join the TPP in order to make local textile products more competitive with those of Vietnam, a TPP-participating country. PT Mustika Ratu president director Putri Kuswisnu Wardani warned that aside from the prestige of joining the TPP, the government should consider the climate in domestic industry. According to her, there are many burdensome labor policies and pro-imports policies. There needs to be fine-tuning for them to conform to TPP standards. President Joko "Jokowi" Widodo’s stated intention of joining the TPP during his White House visit last month has sparked debate about the pros and cons of the deal and the highly secretive nature of the negotiations.
Source: Yarn and fibre
