|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
975.43 |
USD/Ton |
0.00% |
12/29/2015 |
|
VSF |
2006.42 |
USD/Ton |
-0.38% |
12/29/2015 |
|
ASF |
1925.39 |
USD/Ton |
0.00% |
12/29/2015 |
|
Polyester POY |
937.62 |
USD/Ton |
1.25% |
12/29/2015 |
|
Nylon FDY |
2315.10 |
USD/Ton |
-0.66% |
12/29/2015 |
|
40D Spandex |
4938.88 |
USD/Ton |
0.00% |
12/29/2015 |
|
Nylon DTY |
5750.71 |
USD/Ton |
0.00% |
12/29/2015 |
|
Viscose Long Filament |
1149.83 |
USD/Ton |
0.00% |
12/29/2015 |
|
Polyester DTY |
2160.76 |
USD/Ton |
-0.36% |
12/29/2015 |
|
Nylon POY |
2110.60 |
USD/Ton |
0.00% |
12/29/2015 |
|
Acrylic Top 3D |
1007.07 |
USD/Ton |
1.16% |
12/29/2015 |
|
Polyester FDY |
2592.91 |
USD/Ton |
-0.59% |
12/29/2015 |
|
30S Spun Rayon Yarn |
2747.25 |
USD/Ton |
0.00% |
12/29/2015 |
|
32S Polyester Yarn |
1558.83 |
USD/Ton |
0.00% |
12/29/2015 |
|
45S T/C Yarn |
2515.74 |
USD/Ton |
0.00% |
12/29/2015 |
|
45S Polyester Yarn |
2901.59 |
USD/Ton |
-0.53% |
12/29/2015 |
|
T/C Yarn 65/35 32S |
2500.31 |
USD/Ton |
0.00% |
12/29/2015 |
|
40S Rayon Yarn |
1713.17 |
USD/Ton |
-0.89% |
12/29/2015 |
|
T/R Yarn 65/35 32S |
2176.19 |
USD/Ton |
-0.70% |
12/29/2015 |
|
10S Denim Fabric |
1.08 |
USD/Meter |
0.00% |
12/29/2015 |
|
32S Twill Fabric |
0.90 |
USD/Meter |
0.00% |
12/29/2015 |
|
40S Combed Poplin |
0.98 |
USD/Meter |
0.00% |
12/29/2015 |
|
30S Rayon Fabric |
0.73 |
USD/Meter |
0.00% |
12/29/2015 |
|
45S T/C Fabric |
0.74 |
USD/Meter |
0.00% |
12/29/2015 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15434 USD dtd.29/12/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Indian Texpreneurs’ Federation (ITF) has attempted to evolve a method to understand the yarn market. “The lack of scientific data on yarn prices, demand trends and inventory pile up with the mills, forced us to undertake a survey to understand the market better. We did just that by conducting an online survey week-after-week for three yarn markets such as Tirupur (Hosiery Yarn), Ichalkaranji and Bhiwandi (Polyester Cotton and Polyester Viscose yarn) and shared the findings with group members. “This exercise, coupled with the ‘Yarn Strategy Meet’ organised by the Federation every month (over the last four months), has helped the mills understand the market better,” Prabhu Dhamodaran, Secretary of the ITF, told BusinessLine.
Stating that mills have been able to derive great benefit from the said survey as it helped spot fast moving counts, counts in negative zones, stock position and the benchmark selling price, the ITF secretary said, “The feedback has been positive. Several mills have managed to fine-tune their production and marketing strategy and this is obvious from the swelling participation in the monthly yarn strategy meets.” The Federation is now contemplating to extend this exercise for warp counts. “We are also planning to conduct a survey to understand the raw material price. Today’s market dynamics requires such intelligence; it will help the mill sector to choose the right path because every decision on yarn sales will have a direct impact on the mill’s profitability,” he said. A quick look at the market dynamics show that every textile cluster consumes different types of yarn, and there are at least 150 to 200 mills in each of the clusters supplying yarn throughout the year.
SOURCE: The Hindu Business Line
Effluents from textile processing plants in four districts of Tamil Nadu could turn out to be a major environmental concern. At a review meeting in Namakkal to discuss measures for establishing Common Effluent Treatment Plants (CETPs) in Erode, Salem, Namakkal and Karur districts, Tamil Nadu's Minister for Handloom and Textiles S. Gokula Indira said 1,205 units were functioning with the consent of Tamil Nadu Pollution Control Board (TNPCB), while 885 units were functioning without obtaining permission, according to a newspaper report. Out of 2,090 textile processing units in Erode, Salem, Namakkal and Karur districts, less than half (1,007) have expressed their consent for establishing Common Effluent Treatment Plants (CETPs), the Minister said. Though Tamil Nadu Chief Minister J Jayalalithaa had announced setting up of CETPs at Rs. 700 crore in August 11, 2014, additional funds would be requested based on the detailed project report to be submitted by the Tamil Nadu Water Investment Company Limited. Industries Minister P. Thangamani and Highways Minister Edappadi K. Palaniswami who also attended the meeting, said the projects were aimed at long-term for growth of the sector and urged all the unit owners to be members of the projects. But textile processing unit owners said there were difficulties in purchasing land for CETP in Salem and they were also facing financial constraints in contributing 25 per cent of the project cost.
SOURCE: Fibre2fashion
The State Department of Industries and Commerce is all set to breathe new life into the dying textile industry in the State and ‘Power Weave’ is a bold step towards this goal. The power woven fabrics from Kerala that are made at the four Power loom Industrial Cooperative Societies in the State will now be known under the brand name ‘Power Weave’, an initiative of Make in Kerala. The brand, launched in Ernakulam a few weeks ago, is being introduced in Kozhikode through an exhibition-cum-sale that began at Jaya Auditorium in the city on Tuesday. Director of Handloom and Textiles, Government of Kerala Sam C.Itticheria, who inaugurated the exhibition, pointed out that the State had not been able to tap the potential of the vast market for power woven fabrics. He said power loom fabrics costing Rs.35,000 crore were sold in Kerala every year. Kerala contributed only Rs. 500 crore of fabrics in this while the rest came from Tamil Nadu or Gujarat. This situation has to change if the industry has to survive in the State, he said. Chairman of Calicut Integrated Power Loom Cooperative Society P.K. Mukundan; chairman of Wayanad Handloom Power Loom and Multipurpose Industrial Cooperative Society P.J. Antony; chairman on Neyyattinkara Taluk Integrated Powerloom Village Industrial Cooperative Society L. Gopi Krishnan; and General Manager of Texfed V. Dharmaraj; were present at the programme. The brand is owned by Kerala Integrated Power Loom Cooperatives, an amalgamation of the Integrated Power Loom Cooperative Societies in Thiruvananthapuram, Kottayam, Kozhikode and Wayanad. Power Weave is a project of the Directorate of Handloom and Textiles and implemented by the Indian Institute of Handloom Technology, Kannur, and Texfed. The exhibition features a variety of textiles produced by the societies that include Jacquard sarees, printed sarees, shirtings, uniform clothes, lungies, dhothies, bedsheets, furnishings, towels and other textile items. It will conclude on December 31.
SOURCE: The Hindu
In an interview with ET Now, KK Maheshwari, MD, Grasim Industries, shares textile business outlook in the backdrop of non-availability of land.
Excerpts:
ET Now: I want to start off with your thoughts on the export markets. How are they doing? Tell us how much more growth drivers for the segment going ahead?
KK Maheshwari: When you look at the entire fibre then there are mainly two fibres which are natural, one is cotton and the other is viscose staple fibre. The trend is people want more and more of natural products. With the limitation on land availability and the competition for land from other uses like urbanisation, increase food requirement etc there is likely to be a limit on the growth of cotton which you have seen stagnating. Cotton production has seen around 25 million tonnes plus minus one million tonnes for the last many years. Therefore, we believe that VSF comes in as a natural product which can meet the requirements of the customer to get a fibre which is natural added to that it provides the advantage of being very soft providing extraordinary comfort and providing a fluidity which is unparallel from any other fibre or yarn. There is big opportunity for VSF to grow.
You asked me about the opportunities for export but let me tell you the huge opportunities that awaits even in India. We have a population which is almost the size of China but our domestic sales are a little over $70 billion for textile and clothing whereas in China it is well over $700 billion. I am sure you have heard this comparison with China for almost any product but here is a product where we are talking about the growth in the economy. We are talking about the increasing middle class in the country. We are talking about the increasing spending patterns and the increasing desire of the youngsters to experience fashion, to experience life and to experience the dynamism of life and that is where we believe that even Indian markets would offer huge opportunities for growth. That is where we started focusing on ethnic wear and now of course we have extended the Liva into even the western wear. As I explained to you earlier that we are already seeing a traction coming in even from International brands. Today we export to over 40 countries.
ET Now: What is the outlook on VSF prices and we have been breaking it down to specific dynamics for each of the businesses?
KK Maheshwari: VSF for its attributes which are far superior to other fibres has always commanded a premium over other fibres. The pricing tend to get influenced by a number of factors. Most recently we are seeing that the prices of most commodities have taken a hit not because of any other reason excepting for the fact that there has been a huge capacity in the industry. VSF also took a hit because of that and then we found in the last two quarters there was some semblance of re-stabilisation or re-equilibrium getting established in the market because many of the players, our competitors would not have been in a very comfortable situation with the prices. We do see these fluctuations in the prices and therefore it is very difficult to put one benchmark. Eventually if you see the fibre cost, it is such a small part of the total cost of a fabric or of a garment that we believe the unique properties which LIVA made garments would offer because of the unique VSF attributes, it would make sure that our entire value chain is more than happy irrespective of the minor fluctuations of prices on either side.
ET Now: Do you think the China impact could have a greater impact on prices in terms of a trend for 2016?
KK Maheshwari: As I mentioned there has been a pick up in the prices over the last two quarters. Now we are again seeing some changes with a slowdown in China. Some pressure emerge but these are all short term volatility which we have to learn to deal with and in longer term we believe that just because of the fact that there is going to be inadequate availability of land, people's natural preference for organic products, people's preference for natural products and the fact that this is an outstanding creation which lends itself for a lot of versatility in design, VSF based garments, the LIVA based garments will continue to have a great future. There will always going to be a great increase in demand for that.
ET Now: Do you see margins improving to double digit levels on the back of the changing product mix and the new capacities coming on stream?
KK Maheshwari: For any industry to have a sustainable future it would need healthy margins because you have to continue to reinvest in, not only improvements in your existing plants and equipments but also for a new research and new business development initiatives. So it is not a question for us but generally for every industry it would have to earn a reasonable return on investment and healthy margins. The industry used to have healthy margins and then over the last years they did face pressure on the margins which has started improving.
If one were to look at longer term on sustained basis, the margins would improve to reflect the fact that this is a product which has a lot of advantages over the competing products. So it is a matter of time. It is difficult to predict the exact time. Ideally it should have happened by now but for the fact that in the last few years a lot of overcapacities got created the world over, largely in China, and it would take some time for those capacities to get adjusted with the natural growth that takes place. But again, VSF as being one of the fastest growing fibres amongst all the fibres, its growth rate has been almost touching 9 to 10%. It is difficult to sustain that level of growth but even then we think that this would be a fibre which would continue to grow at the highest rate compared to all other fibres.
ET Now: 20% of your revenues come in from the textile segment. What is the outlook there, given the capex intensive nature of the business, do you think the turnaround in the cycle is pretty much around the corner?
KK Maheshwari: These days the cost of inputs for most players is almost similar due to the globalisation which has taken place in the integrated world. We do not think that barring the fact that certain countries, especially China, seems to have overcapacity for most products and they do have advantage of getting certain raw materials slightly cheaper than India but then there are other disadvantages which they have. So I would say that on the whole we are as cost effective as any other manufacturer in the world. It is only a matter of time before the industry starts seeing healthy margins.
SOURCE: The Economic Times
Telangana government will allocate 161 acres of land to Kakatiya Textile and Weavers' Welfare Society for the establishment of a new textile park in Madikonda, Warangal and will provide Rs 10 crore in funding to weavers who set up a power loom in the park, according to Deputy Chief Minister of Telangana, Kadiam Srihari. This support by the government comes in order to bring back the weavers who migrated to Surat, Gujarat from Telangana for better opportunities and for the uplifting of the weaving industry in the state. The textile park in Madikonda will provide employment opportunities to 2000 people directly and 10,000 people indirectly. Additionally, the state government is proposing a textile industry which will require 3000 acres of land. The land acquisition process is underway for the same. However, the new textile park at Madikonda is independent of the state's proposed textile industry.
SOURCE: Fibre2fashion
The Confederation of All India Traders (CAIT) has called for integration of domestic trade to boost the economy and has urged for the formation of a separate Ministry of Internal Trade to monitor domestic trade. In a letter to the Prime Minister, CAIT has also suggested that foreign trade may be put under the domain of Ministry of External Affairs instead of the Commerce Ministry which now oversees foreign trade. CAIT said that although domestic trade is largest contributor to the national economy contributing nearly 45 per cent national GDP and largest employment generating sector after agriculture with more than 5.77 crore business enterprises, yet it is fragmented. India can attain double digit growth if support policies are framed for domestic trade. Different verticals of domestic trade including brick and mortar shops, e-commerce, direct selling, wholesale, cash and carry stores and big retail needs to be integrated in a manner that one vertical should not encroach upon domain of another. For regulating the integrated model, a separate Ministry of Internal Trade may be formed, CAIT said in the letter. It further said that existing retail sector may be upgraded under the Digital India programme. While skills of entrepreneurs may be enriched under Skill India through workshops, small manufacturers be prompted to embrace technology under Make in India programme and the financial inclusion of this sector may be attained under Pradhanmantri Mudra Yojna in partnership with Trade Federations & Associations across the country. The CAIT has also suggested a drive to launch a cashless economy drive in domestic trade.
SOURCE: Fibre2fashion
The textiles and handlooms minister Kollu Ravindra at the inauguration of the National Handlooms Expo along with irrigation minister Devineni Umamaheswara Rao on Sunday assured that government will continue its support to both handlooms as well as power looms for which the Andhra Pradesh government has sanctioned Rs70 crore to setup a mega cluster for comprehensive development of handlooms in Guntur and Prakasam districts. Ravindra reminded that chief minister N Chandrababu Naidu had already waived Rs110 crore worth loans to weavers in spite of the state being in financial crisis. He said that the government has released Rs5.33 crore for 20 percent subsidy on purchasing yarn, colors and chemicals for 171 handloom cooperative societies. Further, Rs4 crore has been sanctioned for ‘Pavala Vaddi’ loans to 166 handloom cooperative societies through APCOB. The government has also been providing power at 50 percent subsidy to power looms and till date Rs7.02 crore has been paid to power utilities.
According to irrigation minister Devineni Umamaheswara Rao, it is the responsibility of the people to support the weavers by patronising handloom sarees, dress material and others products with both traditional and modern design. Till date government has also facilitated 15 district level handloom expos, 5 special handloom expos and two national-level exhibitions including the current one, such exhibitions provide an opportunity for the weavers to expand their market and sell their ware. The National Handlooms expo will continue till January 1
SOURCE: Yarns&Fibers
India is at a lesser risk than other emerging markets if the US Federal Reserve goes aggressive in increasing interest rates next year, says Tushar Pradhan, chief investment officer at HSBC Asset Management (India). Pradhan tells Ashley Coutinho India's sizeable forex reserves should help stem a possible fall in our currency.
What is your reading of the recent Fed policy statement? How will the Fed rate hike impact the Indian equity market in the near and medium term?
There has been a lot of uncertainty surrounding the Fed policy throughout the year. The recent 25 bps (basis points) rate hike, which was on expected lines, has dispelled that uncertainty. Further rate hikes are expected to be gradual, and we expect three to four 25 bps hikes next year. If the rate hikes are aggressive, the dollar will strengthen considerably which, in turn, will weaken emerging market currencies. In that environment, global investors will be hesitant to allocate money to emerging markets because weakening currencies will eat into their gains. So, the pace and quantum of hikes are important factors to watch out for. That said, India is at a lesser risk than most other emerging markets from an aggressive Fed rate hike. This is because our current account and fiscal deficit are under control and we have sizeable forex reserves to cushion the fall of our currency.
What is your assessment of the third quarter performance of Indian companies?
The third quarter results are likely to be weak as there is not much pricing power across the economy and lower commodity prices have led to lower topline growth for most companies. In fact, earnings growth has been below consensus estimates for FY15 and FY16. I expect a marked improvement in the second half of FY17 as the base effect kicks in. The economy is also expected to turn around at about the same time which, in turn, will benefit the equity market.
It's largely the domestic institutional players that have supported the market in 2015. Do you expect this trend to continue in 2016?
Foreign institutional investors (FIIs) have put in about Rs 14,000 crore this year into Indian equities. There have been several months of outflows, largely because of the uncertainty surrounding the Fed hike. Now that the uncertainty is out of the way, I believe emerging markets are likely to get a larger share of FII money compared to 2015. Of course, this is likely only if the Fed does not go too aggressive in raising rates. It's true that domestic institutions, especially mutual funds, supported the market in 2015. Hopefully, they will continue to put in money in 2016 as well. This is because real estate and gold are no longer as attractive as they were a few years ago, which means more of domestic savings will be channelled into financial assets instead of physical assets. In the worst-case scenario, incremental inflows into equities will stop, but I don't expect domestic investors to pull out money next year.
How will low global commodity prices impact India?
In a way, low commodity prices are good for India, as the government will be able to keep its fiscal deficit under control. Companies that import raw materials which are then converted into finished goods will benefit as well. Export-oriented companies, on the other hand, will suffer because of the low prices. Consumption will get a boost because lower inflation may create a higher demand. Overall, low commodity prices should be beneficial from the point of view of economic growth.
Which sectors are you bullish on?
We think lower commodity prices will bring down inflation substantially. This will benefit interest rate sensitive sectors such as banks. In addition, sectors such consumer discretionary will benefit as wages increase, prices get more affordable and demand picks up. With operative leverage kicking in, cement companies will start to make higher margins.
What is your advice to retail investors at this point?
Investors should not be swayed by current fads while investing. Adopt an asset allocation approach and construct a diversified portfolio based on your risk appetite.
SOURCE: The Business Standard
Construction for the largest textile park to be built in Africa has started at the industrial park of Sidi Khettab in Relizane province of Algeria. This project, which is the first of its kind in Africa, is part of an Algerian-Turkish partnership, which was launched in November, to materialize an agreement according to the rule 49/51 between an Algerian industrial group of clothing industry and the Turkish group “Taipa”, which specializes in weaving. The agreement was signed by Minister of Industry and Mining Abdessalem Bouchouareb. The project marks the beginning of an evolving African textile industry. The project will be carried out in two phases. The first phase of work has begun and is expected to be completed by 2018. The first phase will provide eight weaving and clothing units, a business centre, a school providing training in weaving and sewing to 400 trainees and a residential city for the employees. The second phase will begin even before the first phase ends. This would include construction of 10 other factories, manufacturing accessories of ready-to-wear clothes and synthetic fibres. Earlier in September, Algeria and Turkey partnered up for the project in Algeria, which was budgeted at DZD58 billion. As per industry sources, this project is expected to create 25,000 jobs. According to the plan, 40 per cent of the production is to go to the domestic market, while the remaining 60 per cent will be exported.
SOURCE: The CCF Group
Almost 150 garment and footwear factories shut down this year, while more than 50 new ones opened, according to a report of the Cambodian Commerce Ministry. The Cambodian garment industry has recently been rocked by strikes by workers demanding higher wages. According to the report, 982 garment factories and 90 footwear manufacturers were registered with the ministry. Of these, 130 apparel factories 14 footwear factories shut down this year. Another 53 garment factories and five footwear factories registered with the ministry. For now, the Government is not particularly bothered about the closures. Ho Sivyong, director of the import and export department at the ministry, said that even though more factories closed than opened he was optimistic that the production would increase next year, citing pledges that some global brands had made to buy more products from Cambodian factories, one of the country's leading newspapers reported. But Sivyong conceded that strikes for higher wages were deterring new investment, and a shift in production to Myanmar was underway. “Demonstrations and demands for higher wages from workers are a challenge for investors considering investing in Cambodia,” he said, adding that some companies that had shut factories here have shifted production to Myanmar. Some factory closures reflected expansion at other factories. In some cases, “companies that closed production in one place opened in a new location or merged with another factory,” Sivyong said.
Economist Srey Chanthy said that trade data remained promising. Exports of garments and footwear is increasing remarkably compared to last year, he said. If companies that closed are merging with other factories this will translate into efficiency gains, Chanthy said. Some companies that are closing may shift production to countries where wages are lower, such as Myanmar and countries in Africa, or to countries that will be part of the planned Trans-Pacific Partnership (TPP). The TPP aims to create a free trade zone among 12 countries spanning North America and countries in South America and Asia. Cambodia is not part of the TPP and garment producers are concerned that they would not be able to compete with Vietnamese exports in the US market once the TPP takes effect since Vietnam is a member of the TPP. An unnamed executive from the Garment Manufacturers Association in Cambodia (GMAC), said some garment and footwear companies had shut production because they are losing confidence in investing in Cambodia due to demonstrations by workers, such as those that occurred in special economic zones earlier this month near Bavet town close to the Vietnam border. Police had to use water canon to break up the strike. Investors are looking for new locations in neighboring countries to ensure safety, he said, adding that conflicts in the sector have become commonplace. Garment factory owners in Cambodia have said the labour action is damaging the investment climate for the industry, the country's main source of exports.
SOURCE: Fibre2fashion
South-east Asia’s garment industry has a bad name but decent wages, childcare and labour rights are high priorities for one company breaking the mould. Piet Holten, a tall and ebullient mechanical engineer from the Netherlands, is fond of referring to Pactics as one of the best NGOs in Cambodia. As he strides around its premises on a quiet, green plot on the outskirts of the tourist town of Siem Reap, his patter is peppered with references to sustainability, empowerment, development and opportunity. But Pactics is not an NGO; after all, few NGOs would build themselves around a mission statement that aims “to create a decent company that offers competitively priced, high-quality microfibre products in an environmentally and socially responsible way”. Nor, however, is it most people’s idea of a south-east Asian textile operation. Its factory has been designed by an architect and is arranged around a series of cooling courtyards. Its four buildings are designed to “harvest” daylight so there is no need for artificial light except during storms. Through the air above the waterlily-studded pond and the young trees being grown for shade, squadrons of dragonflies dart and dive.
Set up by Holten in Shanghai in 2004, Pactics began its Cambodian operations in 2010. Three years later, the Siem Reap factory was built; today it produces lens cloths and spectacle bags for the likes of Oakley, Tiffany and Ray-Ban. Holten says he chose to build a factory far from the capital, Phnom Penh, after hearing stories of young women flocking to the city in search of work in the garment trade only to end up sleeping 12 to a room and facing debt and sexual exploitation. “We believe a factory – even one that in terms of complexity is at the lower end of the manufacturing spectrum – can be very successful and competitive while at the same time making sure all people that contribute earn enough to properly support themselves and their [families],” he says.
The 320 people on the factory floor are divided into skilled and unskilled workers: the former are paid $125 a month plus 30% extra when targets are hit; the latter receive $125 a month plus 15%. Even if targets are not met, the company guarantees a basic wage of $125 a month and 44 days of paid holiday a year. In a country where the average annual income is just over $1,000 a head, such wages are highly sought after. Pactics is, predictably, big on corporate social responsibility. Not only does the factory house a creche, a first-aid room staffed by a nurse, a lending library and a subsidised canteen, it contributes $50 a year towards the cost of each employee’s education and pays half the price of a crash helmet for its workers, most of whom, like the majority of Cambodians, rely on scooters for transport. New employees receive five days of training, during which they are taught how to work safely, recognise their labour rights and identify sexual harassment. Workers are also free to form and join unions, although so far none has, according to Holten. The factory’s toilets are flushed with rainwater and it has total wheelchair access for those who have lost limbs to landmines or traffic accidents. Holten likes to think of it as an unusually enlightened enterprise, but he is adamant he is still running a business. “We believe that one very important factor of development and sustainability is for people to add value in a production process that produces for the world market,” he says. “In other words, we create work that does not exist by the grace of a local tourist market full of goodwill or in a process that is subsidised. At Pactics, people earn their money contributing to the manufacturing of products that are sold on a very competitive world market.” Chanthy Khun, a 31-year-old quality control supervisor at the factory, worked in a garment factory in Phnom Penh before moving to Siem Reap, where she and her husband ran a streetfood stall. Although the stall yielded a good income, it wasn’t always enough to get by on. “During the high season, I could get three times what I get now but in the low season, we could only just survive,” she says. “I never want to go back to working in Phnom Penh. I feel proud because I get quite a lot of benefits and it’s close to where I live.” This year, Pactics expects to make a 12% profit on a turnover of $8.5m, and Holten hopes its success will help persuade others to emulate it. But even a company like Pactics sometimes has difficulty in communicating the advantages of its model. “We’re failing to explain the value of this to our customers,” he says. “That’s where we haven’t performed well.” In the meantime, he adds, Pactics will keep doing what it does “because it’s fun: we are at the absolute bottom of the [garment trade] selling products that cost six cents. But we’re still showing that we can do things to improve people’s lives”.
SOURCE: The Guardian
Bangladesh's Commerce Minister Tofail Ahmed has dismissed as 'incorrect' the observation of the private think-tank Centre for Policy Dialogue (CPD) that Bangladesh's achievement from the recent World Trade Organisation conference in Nairobi was 'meagre', Bangladeshi newspapers have reported. “They (CPD) do not see our progress. Everyone in the WTO conference lauded Bangladesh but CPD failed to see anything,” a combative Ahmed told reporters at the secretariat. At a press briefing at his ministry, Ahmed said, “The information they (CPD) have provided is incorrect. Bangladesh's interest has been protected the most among the least developed countries.” Earlier last week, Debapriya Bhattacharya, distinguished fellow of CPD, said at a press briefing, “We (Bangladesh) have come out of the WTO conference with meagre achievement.” The CPD said Bangladesh could not gain much from the recently held 10th Ministerial Conference of the WTO in Nairobi as global leaders failed to reach a consensus on key deals. Ahmed differed with Bhattacharya and highlighted Bangladesh's 'negotiation success' with regard to the pharmaceutical industry.
The WTO Ministerial Conference held earlier this month in Nairobi, extended a waiver allowing LDCs to avoid intellectual property rights obligations on pharmaceutical products until 2033. The minister said, “Among LDCs, only Bangladesh has the ability and infrastructure to manufacture pharmaceutical products. LDCs do not have that much interest in the sector. Despite that, we've convinced everyone to do it.” He claimed that Bangladesh could attain its four main objectives at the conference. “Our achievement has not come in a day. Bangladesh's Permanent Mission in Geneva and the commerce ministry had long been working on that.” Ahmed said Bangladeshi products were enjoying duty-free access to many countries. “However, several countries, including the United States, Brazil and Argentina are not extending the facility,” he said. The minister conceded that Bangladeshi exports to Brazil and Argentina were not that much, but Dhaka was making efforts to reach an understanding with the US. Washington had suspended the GSP facility for Bangladesh in 2013 following the deaths of over a thousand workers in a fire at Tazreen Fashions and in the collapse of Rana Plaza, which housed several readymade garment factories.
SOURCE: Fibre2fashion
Almost all textile processes require the use of textile chemicals, which are used as either intermediates or compounds for the manufacturing and processing of textiles. It is the task of textile chemicals to alter or modify the nature of the textile itself, usually imparting superior properties to it. This includes reflective textiles, fireproof textiles, and many other types that are created for special utility or aesthetic appeal. The textile chemicals used are of many types; whether they are used in pre-processing, pre-treatment, or finishing, textile chemicals play an integral role in the global textile industry. It is no wonder then that textile chemicals are in such great demand. The global textile chemicals market is expected to progress at a CAGR of 3.70% between 2014 and 2020. The market was valued at US$19.6 bn in 2013. With its current rate of growth, the global textile chemical market is expected to reach US$25.4 bn by the end of 2020. From what we already know, the global textile chemicals market is entirely dependent on the progress rates of the global textile industry. There are certain segments within this industry that achieve greater levels of demand than the other, and technical textiles is one of them.
Changing Regulations Transforming Global Textile Chemicals Market:
The global textile chemicals market is one of the conventional markets that is undergoing a heightened level of reform. This is to reduce the negative impact of chemicals and toxins released into the environment as a result of their production and/or usage. For instance, the Zero Discharge of Hazardous Chemicals Group has recently finished reviewing the global textile industry. The organization announced that there is a large gap between the measuring methods in each region and their discharge regulations. Although brands and/or multi-brands may adhere to these regulations, there is no direct comparison between the various nations and their toxic chemical output. As such, the ZDHC has pushed for a unified discharge guideline for all companies in the global textile industry in support of an industry-wide wastewater management effort.
Bans on Major Textile Chemicals Hamper Global Textile Chemicals Market:
The growing environmental concerns are currently restricting the global textile chemicals market as far as conventional chemicals are concerned. For example, NPL, one of the most widely used chemicals for rinsing, cleaning, and dyeing textiles, is now proven to be harmful to aquatic flora and fauna. Consequently, it was banned by the European Union. Similar bans have been implemented on other chemicals and this will continue to occur as science works towards maintaining ecological stability. One of the cleaner options assembled in the textiles industry is the introduction of biobased textile chemicals. The future shall tell how this endeavor goes. For now, however, it is certain that reform is required in the global textile chemicals market.
SOURCE: The Industry Today
Vietnam's economy grew 6.68 per cent, the fastest in five years, helped by an expanding industrial sector and record foreign direct investment. The growth figure beat the government's target of 6.2 per cent growth, according to new data released by the General Statistics Office (GSO). In the fourth quarter, gross domestic product (GDP) increased 7.01 per cent from a year earlier, accelerating from 6.87 per cent in July-September to be the year's best quarter, the GSO said in a report. “The economy has clearly recovered,” the office said in a report Saturday. The Government had set a GDP growth target of 6.2 per cent at the beginning of the year, after achieving a 5.98 per cent expansion in 2014. The Government later adjusted the expectation to 6.5 per cent, which was also the World Bank's forecast. Vietnam's GDP per capita this year reached $2,109, up from $2,052 last year, the office said. The annual budget deficit remained high as revenues were VND885 trillion (nearly $39.3 billion) while spending topped VND1,064 trillion ($47.2 billion). The statistics office also reported that a total of $14.5 billion of foreign direct investment was disbursed over the year, up 17.4 per cent from 2014. The government has projected economic growth of 6.7 percent for next year.
SOURCE: Fibre2fashion
