Textile Raw Material Price 2016-01-27
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
932.91 |
USD/Ton |
0.24% |
1/27/2016 |
|
VSF |
1879.50 |
USD/Ton |
0.57% |
1/27/2016 |
|
ASF |
1895.45 |
USD/Ton |
0% |
1/27/2016 |
|
Polyester POY |
952.66 |
USD/Ton |
0% |
1/27/2016 |
|
Nylon FDY |
2187.94 |
USD/Ton |
0% |
1/27/2016 |
|
40D Spandex |
4786.11 |
USD/Ton |
0% |
1/27/2016 |
|
Nylon DTY |
2036.00 |
USD/Ton |
0% |
1/27/2016 |
|
Viscose Long Filament |
2077.78 |
USD/Ton |
0% |
1/27/2016 |
|
Polyester DTY |
1025.60 |
USD/Ton |
0% |
1/27/2016 |
|
Nylon POY |
2461.43 |
USD/Ton |
0% |
1/27/2016 |
|
Acrylic Top 3D |
5661.28 |
USD/Ton |
0% |
1/27/2016 |
|
Polyester FDY |
1124.36 |
USD/Ton |
0% |
1/27/2016 |
|
30S Spun Rayon Yarn |
2643.76 |
USD/Ton |
0% |
1/27/2016 |
|
32S Polyester Yarn |
1519.40 |
USD/Ton |
0% |
1/27/2016 |
|
45S T/C Yarn |
2431.04 |
USD/Ton |
0% |
1/27/2016 |
|
45S Polyester Yarn |
2795.70 |
USD/Ton |
0% |
1/27/2016 |
|
T/C Yarn 65/35 32S |
2415.85 |
USD/Ton |
0% |
1/27/2016 |
|
40S Rayon Yarn |
1686.53 |
USD/Ton |
0% |
1/27/2016 |
|
T/R Yarn 65/35 32S |
2096.77 |
USD/Ton |
0% |
1/27/2016 |
|
10S Denim Fabric |
1.06 |
USD/Meter |
0% |
1/27/2016 |
|
32S Twill Fabric |
0.89 |
USD/Meter |
0% |
1/27/2016 |
|
40S Combed Poplin |
0.96 |
USD/Meter |
0% |
1/27/2016 |
|
30S Rayon Fabric |
0.71 |
USD/Meter |
0% |
1/27/2016 |
|
45S T/C Fabric |
0.73 |
USD/Meter |
0% |
1/27/2016 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15194 USD dtd. 27/01/2016)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
The country's overall exports of textiles and clothing may stand at USD 40 billion in 2015-16, similar to last year's level, a senior official said here. "We see slowdown in China as an opportunity for us and we are looking at USD 40 billion of textiles exports this year. To overcome global slowdown, the Textile Ministry will give full support to the industry," Textile Commissioner Kavita Gupta told reporters. She was speaking after inaugurating the 62nd National Garment Fair organised by the Clothing Manufacturers Association of India (CMAI). The country's overall exports of textiles and clothing stood at $41.4 billion in 2014-15 and $39.31 billion in 2013-14. "We see slowdown in China as an opportunity and not as a challenge for Indian textile exports. We need to act fast in seizing opportunity. We need to promote every segment as we are loosing out to Bangladesh and Vietnam," Gupta said.
Commenting on the new textile policy, Gupta said the draft is ready. Gupta said that with 13 per cent share, technical textiles is emerging as a sunrise sector. The technical textiles industry is projected to grow at 20 percent year-on-year and the segment's potential is largely untapped in the country, she added. CMAI President Rahul Mehta said exports of ready-made garments is expected to reach $ 17 billion (about Rs 1, 12,000 crore) in 2015-16 as against $ 16 billion in the previous year. The domestic apparel industry is facing slackness but sentiment is likely to improve after the implementation of GST, he said. The country's exports to South America, Eastern Europe and Middle East have increased significantly, Mehta said, but added that uncertainty still prevails in Europe, which is a major market.
SOURCE: The Economic Times
The textile industry in India has warned the government that if goods and services tax (GST) is levied on maximum retail price (MRP) as proposed then it would have multiple ill effects on the entire sector. The textile industry has recommended the government to levy GST on ex-factory price, which is always much lower than the MRP, as it would leave some leg room for periodic discount offers. The textile industry offers heavy discounts on MRP of branded garments not only in their factory outlets but also in organised retails to attract business. Especially in the lean season, even branded garments are available at affordable prices, which otherwise remain un-affordable for the average middle class. Considering expenses incurred on branding, transportation and a host of other aspects, it is important to have GST levy on ex-factory, which would be determined on the basis of actual manufacturing cost. The ex-factory price can easily be arrived at on the basis of the current system of Central Sales Tax (CST) paid to the government, industry represented to the Finance minister Arun Jaitley. "The MRP is just an indicative price, which cannot be determined for any tax collection. Levying GST on MRP of garments would have multiple ill effects on the entire textile sector. Not only the frontline textile sector but also entire value chains of the textiles industry would be hit badly," said Shanti L Shah, chairman and managing director of Hiralal Gulabchand Pvt Ltd, a city based garments manufacturer. When asked, an industry veteran, said, "MRP is deceptive and hence, cannot be seen as the final price of the product. If GST is implemented on MRP, it would sink the entire textile industry into deep water." The textile industry has, in fact, has also urged the government to keep this employment intensive industry in the lowest slab of GST. Trade sources believe that 12.5 per cent of GST would be a logical level without any ill-effect on the industry.
Speaking on the sidelines of the 62nd Garments Fair here on Wednesday, Dr Kavita Gupta, Textile Commissioner, said, "The government has not taken any view on the demand of the industry. But, we are committed to support the textiles industry to the maximum possible extent. The industry, meanwhile, should start preparations for the GST." India's textiles exports are set to record a marginal decline at $40 billion in the financial year 2015-16 as compared to $41.4 billion reported in the previous financial year. Dr Gupta attributed a marginal decline in textiles exports to a slowdown in global economy but, definitely saw the slowdown in Chinese economy as an opportunity for India to grab larger market share in global textile trade. "India's textiles exports remained static for several years. But, to see a sustained growth in exports, India needs to focus on value addition, portfolio diversification and market innovation. We have already achieved 60-65 per cent of market share in the Summerware segment and therefore, have attained saturation. We need to expand product portfolio like winterware, kidsware etc. to grab more market share. Otherwise, growth in textile exports looks difficult," said Rahul Mehta, President, Clothing Manufacturers Association of India (CMAI).
SOURCE: The Business Standard
The Centre will soon unveil a textile policy to boost sagging exports and encourage investments in the sector. Inaugurating the 62nd National Garment Fair in Mumbai on Wednesday, Kavita Gupta, Textile Commissioner, said the draft of the new textile policy is ready and the final version would be announced soon. “We see the slowdown in China as an opportunity and are looking at $40 billion of textiles exports this fiscal. The Textile Ministry would give full support to the industry in time of distress,” Gupta said. Textiles and clothing exports were at $41.4 billion in 2014-15 and $39.31 billion in 2013-14. On the progress of exclusive textile parks, she said the Centre had approved 72 textile parks but only 25-30 are operating fully while the rest are lying idle. The readymade garment industry generates largest employment after the agriculture sector and the Centre is extending its full support to this segment by extending 15 per cent capital subsidy against 10 per cent offered to other sectors of the textile industry, she said. With 13 per cent share in the overall textile industry, technical textile is fast emerging as the sunrise sector.
Technical textile industry is projected to grow at 20 per cent year-on-year, she said. Organised by the Clothing Manufacturers Association of India, the fare has 283 stalls displaying over 330 brands and over 15,000 retailers and traders expected to visit this fair. Rahul Mehta, President, CMAI, said exports of ready-made garments are expected to touch $17 billion in 2015-16 against $16 billion in the same period last year. Exports to South America, Eastern Europe and West Asia have increased significantly, but uncertainty still prevails in Europe, which is a major market, Mehta added.
SOURCE: The Hindu Business Line
India’s blended spun yarns export was worth US$38.9 million in December 2015, down 6 per cent YoY while volumes were up 1.7 per cent to 14.2 million kg. Polyester cottons yarns were exported to 49 countries in December 2015 aggregating US$18.9 million with a unit price realization averaging US$2.52 a kg, down US cents 15 as compared to December 2014. Export volumes surged by 5 per cent to 7.5 million kg, of which, 15.6 per cent was shipped by Egypt alone. Bangladesh was the second largest importer of PC yarn from India and shipped 11.8 per cent of the total PC yarn imported in December followed by Morocco. Bangladesh imported 0.88 million kg of PC yarn from India worth US$2.65 million in December.
Apart from Bangladesh, Argentina, Honduras, Spain and South Africa were the fastest growing markets for PC yarns while Portugal, Italy and China significantly reduced their import of PC yarns from India. Brazil and Chile were among the 8 countries that did not import any PC yarns from India during December. Latvia was the major destination among the 7 new markets found in December.
In December, US$11.9 million worth of PV yarns were exported from India with volumes at 4.6 million kgs. Turkey and Iran continued to be largest importers of PV yarns from India with total volume at 3.48 million kg worth at US$8.7 million. Belgium and Lebanon were the fastest growing markets for PV yarns while Yemen, Kenya and South Africa reduced their PV yarns import from India. Tunisia and Russia were the new major markets for PV yarn while 8 countries did not import any PV yarn during the month, including the major ones like Morocco, Chile and Thailand. In December, 2.1 million kg of other blend of yarns were exported worth US$7.9 million.
SOURCE: Yarns&Fibers
A mobile app developed by a young computer engineer from Ahmedabad's Nirma University, has come as boon to powerloom weavers in Surat who now have an opportunity to transact business in a secure environment without worrying about fly-by-night operators. The app bridges the gap between the powerloom weavers and textile traders in the country's largest man-made fabric (MMF) hub, according to a report in The Times of India. Twenty-year-old Pushpal Maheshwari calls his mobile application ConnecTex. The aim of this application is to make deals between traders, wholesalers and weavers of Surat's textile industry, faster and secure. Around 300 weavers and traders from the city have joined the network application for doing business in a secure environment. According to the report, the textile industry sees defaults of over Rs 200 crore every year with shady traders duping weavers.
SOURCE: Fibre2fashion
Just back from a trip to Andhra Pradesh and previously Odisha, Sreemathy Mohan, a resident of Chennai who works with an IT major, is now planning a trip to Coimbatore. But these aren’t just visits to merely sightsee – they are trips specifically to delve into the textiles of each region, to learn about the skills involved, to explore how fabric is made, designed and crafted into a product that eventually makes its way to a store. Even as the people of Chennai are beginning to explore textile trails both in Tamil Nadu and other parts of the country, there is a new revival of interest in the traditional weaves of Tamil Nadu, say travel agencies. A growing movement for the revival of the Sungudi sari in Madurai, vintage Kanjeevaram designs and Chettinad cotton for instance, are bringing in textile enthusiasts from across the country, said Ms. Mohan. A member of the Crafts Council of India that has been working with weavers to revive handmade Madurai Sungudi, Veeravanallur saris and Koranadu saris said a niche section of tourists made it a point to meet the artisans.
Over the four years that Breakaway Tours, an experiential travel venture has been organising textile tours to Tamil Nadu, there has been a 40 to 50 per cent growth in the sector, said Shilpa Sharma, founder. “Our day trips to Kancheepuram are also very popular – we have at least one trip a month with between four to 10 tourists,” she said. While tourists are mostly from Mumbai, Delhi, Pune and West Bengal, there are some foreigners too, said Ms. Sharma. A trip to Kalakshetra to see Kalamkars at work, weaver interactions and visits to looms in Kancheepuram, and learning about sustainable textile in Puducherry are some of the many experiences offered to tourists, she said.
Uma Prajapathi of Upasana in Auroville, whose unit promotes sustainable fashion, said several tourists visited them to see their work with handlooms, organic cotton, natural fibres and khadi. Chennai Magic too, conducts textile tours in Tamil Nadu and south India and this sector is increasing in popularity, said Deepa Krishnan, founder of the company. “Our clients are all overseas visitors to India and NRIs and are very interested in this. The textile tours are usually combined with exploration of other crafts too such as Athangudi tile making and bronze casting,” Ms. Prajapathi said. Chettinad and Kancheepuram are the major areas explored, she said. Visits to temples and sampling of various kinds of cuisines too are usually part of the itineraries. Cooptex too is now beginning to venture into the textile trail sector, said T.N. Venkatesh, Managing Director. “In a first project of its kind, we are taking a group of textile enthusiasts on a Kovai Kora trail – to Vadambacheri and Sirumugai. This is being done solely to promote awareness of handlooms,” he said, explaining that the trail would explore the links – from the weavers to Cooptex. “There is a lot of interest in this now,” he said. There is also a growing demand for textile trails in Chennai – especially Mylapore and T. Nagar, said Ms. Mohan. “People want to know how to shop smarter and where to get the best buys. In March, we are planning a textile trail of Mylapore,” she said.
SOURCE: The Hindu
At least a few thousand more of the 33,000 powerloom units in Coimbatore and Tiruppur districts were in deep debts, with interest mounting everyday. This situation, which is fast worsening is what has pushed them to decide to close down all their units in an indefinite strike from Thurday (January 28), said the Tirupur District Powerloom Job Working Units Owners Association president R Velusamy. The monthly interest alone comes up to Rs 20,000 a month. They have to cough up this amount besides the money they pay for labour, electricity bills, replacing spare parts and paying for dyeing, fitting, knotting charges to outsiders whose remuneration they hiked based on the agreement arrived with textile units almost two years back. The manufacturers said that a large number of units have not been able to pay off their bank interest regularly and that too keeps accumulating over the years. They blamed this situation on the textile units not keeping their agreement signed in March 2014 with the powerloom unit owners. They had decided to give a 30% hike in job working charges to units in Somanur and 27% of neighbouring areas like Tirupur and Palladam, said R Palanisamy, a member of the Coimbatore District Job working Powerloom Owners' Association. However, they followed it for hardly three months and went back to their old rates claiming that business was dull. Textile unit usually give them the yarn to be spun into fabric. Because their business is dull, they can't get into debt and go hungry, he said.
An average unit with around 10 looms gets to weave around 600 m of cloth. They used to get around Rs 5 per metre, but it was supposed to be hiked to Rs 6.35 per metre. When they go back to paying them their old rate of Rs 5 per metre they lose around Rs 810 a day and Rs 24,000 a month, said Palanisamy. They still pay the labour department fixed hiked labour charge of Rs 1.75 per metre to the labourers. Despite of all the issues faced it till becomes difficult to shut down business immediately also and dismiss labourers who know nothing else but spinning and weaving. In the last two years all other working costs like electricity, spare parts, knotting, dyeing and everything has increased.
SOURCE: Yarns&Fibers
The commerce department is discussing the outcome of the World Trade Organisation's Nairobi ministerial with other ministries, a senior official said on Wednesday. "We met all ministries related to trade. The minister chaired it. We have made presentation to agriculture ministry," commerce secretary Rita Teaotia said at a CII conference on the outcome of the WTO Nairobi deal, adding the commerce department is discussing on how to move ahead on the matter. The meetings assume significance as the Nairobi package includes ministerial decisions on agriculture and cotton, which the respective line ministries will be responsible for implementing when they come into effect. In agriculture, the issue of doing away with export subsidies, especially sugar, is important as these have to be phased out by 2023.
The Nairobi package also has issues related to least developed countries covering a Special Safeguard Mechanism for developing countries, public stockholding for food security purposes, a commitment to abolish export subsidies for farm products and measures related to cotton. However, it did not reaffirm the Doha Development Agenda which was India's main demand before going for the biennial talks. On this, the secretary said India will not go ahead with new issues till the time Doha is reaffirmed. "Doha is still alive," she said.
On minimum import price for steel, the commerce secretary said the government has not yet decided on fixing minimum import price (MIP) for steel. The government is under pressure from certain sectors of the steel industry to impose an MIP on steel and is examining the arguments of those who want the restriction and the downstream sectors that use steel and want low-cost imports to continue. Indian steel majors such as Tata Steel, Bhushan Steel, JSW and Essar met commerce and industry minister Niramala Sitharaman in November last year to discuss issues arising out of dumping of steel by China, Japan and Korea, and sought more measures to counter the flooding of steel products. Cheap steel imports from China, fuelled by over supply from that country, have rendered Indian steel companies uncompetitive, with many asking for a minimum import price.
SOURCE: The Economic Times
India-Nepal trade, which has been at 60-70 per cent below normal for the past five months, may remain subdued for some more time, as the crisis in the Himalayan country has deepened following the recent Constitutional amendments.
Five months agitation
India recorded $5.19 billion in export-led trade with Nepal in 2014-15, against $4.55 billion in the previous fiscal. But the five-month-long agitation has dented the volume substantially this fiscal. While the fine-print of the Constitutional amendments are not available, analysts and the four-member Madhesi forum have described them as “cosmetic”. The KP Oli government in Kathmandu, on the other hand, claims that the amendments address at least one major Madhesi demand — proportional representation in Parliament.
Trade route blockade
Sources say Delhi too was keen that the Oli government address at least some of the Madhesi demands, to placate protestors who have blocked the main trade route through Birgunj in the southern plains of Nepal. But, instead of soothing frayed nerves, the amendments seem to have inflamed anger in Madhesi youth, making it difficult for the leadership to lessen the agitation. The trouble was further fuelled by police firing on agitators killing three, on January 21, just when the Nepali Prime Minister was in peace talks with Madhesi leaders. Analysts don’t see immediate peace in the country.
SOURCE: The Hindu Business Line
India and Armenia on Wednesday signed a protocol to amend the existing Double Taxation Avoidance Convention between the two countries. “The Protocol amends the Article on Exchange of Information for tax purposes to bring it in line with the updated provisions in the OECD Model,” said a Finance Ministry release. The amendments will help the two countries to exchange information related to financial and banking transactions under the pact and help in preventing tax evasion. “It is also expected to further strengthen the efforts of Government of India in curbing generation of black money,” said the Finance Ministry. The original Double Taxation Avoidance Convention between India and Armenia has been in existence since September 2004. The Amending Protocol was signed by Central Board of Direct Taxes (CBDT) Chairman AK Jain and Ambassador of Armenia to India Armen Martirosyan, said the Ministry. Commenting on the Armenia protocol, Amit Jindal, Partner, Felix Advisory, said this move was in line with government’s larger intent of introducing similar clauses (banking information exchange) with all countries to curb money laundering.
SOURCE: The Hindu Business Line
Enterprises operating from over 200 Special Economic Zones (SEZs) in the country are likely to be exempted from the minimum alternative tax (MAT) of 18.5 per cent on their book profits. The Union commerce ministry is understood to have made a strong case for removing MAT on SEZ units on the ground that giving this tax benefit would revive domestic manufacturing and provide the much-needed boost to exports, declining in each of the last 13 months.
GROWTH STORY OF SEZS
In addition, the commerce ministry has also put in place an effective monitoring mechanism that is closely looking at what remedial measures can be taken to promote exports in some of India's key markets. The free trade agreements (FTAs) are going to be examined from that perspective, as and when they come up for review. 200 SEZs likely to be exempt from 18.5% MAT Meanwhile, an attempt is being made to use India's services exports strength and build that into its negotiations for agreements for merchandise trade. Simultaneously, an effort is being made to strengthen the legal framework for the plantation industry, so that this sector can also play a more useful role in exports and in domestic markets.
On the question of MAT, the commerce ministry has had detailed discussions with the finance ministry. Expectations of the government removing MAT on SEZ units are high, even though the finance ministry is still debating the decision's implications of revenue loss for a government that is struggling hard to adhere to its promised fiscal deficit of 3.5 per cent of gross domestic product for 2016-17. In the current financial year, the fiscal deficit has to be kept within 3.9 per cent of GDP, but next year the challenges of an increased expenditure burden on account of the recommendations of the Seventh Central Pay Commission are going to be more difficult. According to official estimates, the corporation tax revenues foregone on account of the SEZ units in 2014-15 were estimated at Rs 18,394 crore. This revenue loss would have been more if the government had not levied MAT on these units. MAT was levied with effect from April 2011 on SEZ units. Therefore, the size of the potential revenue loss on account of removing MAT on SEZ units is what is causing a dilemma in the finance ministry. The larger implication of removing MAT on SEZ units would be that the government's earlier plan of phasing out corporation tax exemptions on SEZ units from 2017-18 would need to be reviewed. If MAT is to be removed from 2016-17, as is expected in the commerce ministry, then there would be no logic of phasing out corporation tax exemptions for them from 2017-18.
FACTFILE
The latest move to consider removal of MAT on SEZ units follows a detailed representation made by SEZ companies to the commerce ministry last month. It was argued that the 204-odd SEZs have an estimated 4,122 operating units, engaged in exports of Rs 4.6 lakh crore, which accounted for almost a fifth of India's total exports in 2014-15. With total investments estimated at Rs 3.63 lakh crore in these SEZ units, they employ around 1.5 million workers. Those arguing in favour of abolishing MAT on SEZ units point out that the move would also help counter the steady rise in imports of a large number of items from various developing countries and China, which have begun flooding the Indian markets with their products in view of a downturn in international trade. The removal of MAT is being justified not only for giving a boost to the government's Make In India programme, but also for keeping a check on imports of a large number of items.
SOURCE: The Business Standard
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$ 28.05 per barrel (bbl) on 27.01.2016. This was higher than the price of US$ 26.63 per bbl on previous publishing day of 26.01.2016.
In rupee terms, the price of Indian Basket increased to Rs 1907.04 per bbl on 27.01.2016 as compared to Rs 1801.19 per bbl on 26.01.2016. Rupee closed weaker at Rs 67.98 per US$ on 27.01.2016 as against Rs 67.64 per US$ on 26.01.2016. The table below gives details in this regard:
|
Particulars |
Unit |
Price on January 27, 2016 (Previous trading day i.e. 26.01.2016) |
Pricing Fortnight for 1.02.16 (Dec 30 to Jan 13, 2016) |
|
Crude Oil (Indian Basket) |
($/bbl) |
28.05 (26.63) |
26.05 |
|
(Rs/bbl |
1907.04(1801.19) |
1763.06 |
|
|
Exchange Rate |
(Rs/$) |
67.98(67.64 ) |
67.68 |
SOURCE: PIB
Bangladesh amid growing demand for cheap clothing and the rest of the Asia disappointed in terms of export revenue in 2014, there was one surprising anomaly to the pattern – Bangladesh’s textile industry surged towards the end of 2015. Bangladeshi export earnings levitated to $3.2bn last December, thereby setting a new record for the South Asian country. This phenomenal success can be attributed to Bangladesh’s growing apparel industry, which accounted for over 83 percent of December’s figures. The country’s GDP is expected to grow to 6.7 percent this year, which will make Bangladesh one of the fastest growing economies in the world. As global demand for cheap clothing is rising rapidly, Bangladesh’s position as the second biggest exporter in the world continues to hold strong, which is mainly due to its large population and low labour costs. There is good reason for Dhaka to remain hopeful for the year ahead as well as exports account for 20 percent of Bangladesh’s GDP, while clothing in particular contributes around 80 percent of all exports. In fact, according to the World Bank, the country’s GDP is expected to grow to 6.7 percent this year, which will make Bangladesh one of the fastest growing economies in the world. However, with the EU being a principle recipient of garments, accounting for 61 percent of exports, there is the continued slowdown of European economies to consider. Moreover, Bangladesh’s current global ranking.could be threatened with growing competition from Vietnam, which will grow fervently once the Trans Pacific Partnership is ratified sometime this year. As such, Bangladeshi manufacturers in order to maintain their competitive advantage will be forced to enhance productivity levels. Even with all these challenges ahead, in the coming years as global trade picks up demand for Bangladeshi garments is also expected to increase.
SOURCE: Yarns&Fibers
Bangladesh capital Dhaka is all set to host the 13th Dhaka International Textile and Garment Machinery Exhibition (DTG 2016), an international fair of leading brands in textiles and garment technology, machinery and parts from tomorrow. Bangladesh Textile Mills Association (BTMA), Yorkers Trade and Marketing Service Company of Hong Kong Taiwan's exhibition management firm Chan Chao International Company are organising the fair which will be held in Bangabandhu International Conference Centre from January 28 to 31. The fair is open to visitors from 12pm to 8pm. “More than 1,000 textile equipment manufacturers from 34 countries, including Bangladesh, will display a variety of state-of-the-art textile and garment technologies and machinery,” Tapan Chowdhury, president of BTMA, told reporters. He further added, “The sector has established a strong backward linkage industry for the country's garment industry. As a result, the apparel sector has been able to keep up its growth momentum and remain sustainable.” “Exhibitors will showcase the latest in textiles and apparel technology through 1,160 booths to spinners, weavers and knitters,” said Judy Wang, an executive director of Chan Chao International Company. Exhibitors will showcase the latest in textiles and apparel technologies, machinery, parts, accessories and the latest market trends, to spinners, weavers and knitters.
Global brands such as Mayer & Cie, Pai Lung, Santoni, Shima Seiki, Stoll, Terrot, Picanol, M&R, Fong's, Groz-Beckert, Karl Mayer, LMW, Rieter, Saurer, Tajima and Toyota will display their products. Companies form major textile and garment machinery producing countries like Germany, Italy, China, Japan, Switzerland, etc will be showcasing their latest machinery and equipment at the show. Last year's exhibition had 880 exhibitors, occupying 1060 booths, and attracting 37,005 local and international business visitors. The exhibitors sold machinery worth $220 million at the fair.
SOURCE: Fibre2fashion
Ghana government is determined to revive the textile industry to produce more for its exports, Kweku Ricketts Hagan, the deputy minister of trade and industry has said, according to Ghanaian media reports. The government is also taking steps to invest in the local textile industries to promote it in the international market. Speaking at the 50th anniversary celebration of the Ghana Textile Printing (GTP) company, Hagan said the ministry is working persistently to revamp dormant manufacturing companies such as the Juapong and Volta Star Textiles factories to make Ghana an export rather than import oriented nation. The government would also resuscitate the cotton industry to ensure that most of the lint is produced in the country, he added. Hagan further said that for a country like Ghana whose imports exceeds its exports, it is essential to add value to its raw materials. This would help the country's economy to improve and would also help in creating more jobs for the Ghanaian youth. Unstable power supply has been the major concern of manufacturing companies in the country for which the government has initiated some measures to solve the situation, said the deputy minister.
SOURCE: Fibre2fashion
Werner International, a US based global textile, apparel and fashion management consultant, has signed a deal with 25 government textile companies to revamp their structure and strategies with a view to improve the country's textile sector in whole, according to Egyptian media reports. The Egyptian textile industry had hit the skids in the past years on account of factors like outdated machineries in textile units, numerous strikes and protests held in the country's textile sector, etc. Textile and apparel constitute more than 10 per cent of the country's total exports excluding oil. Labour-intensive sectors like the textile sector is responsible for providing almost 30 per cent of the total industrial employment opportunities in the country. This deal is an attempt to uplift the falling Egyptian textile sector. Werner International will begin work by next month, and will complete it in around 9 months time, according to government officials. The global management consultancy has an expertise in combining technical, marketing and strategic aspects and has clients from all over the world.
SOURCE: Fibre2fashion
The global smart textile market is projected to expand at a remarkable CAGR of 30.80% during the forecast period from 2015 to 2023, says Transparency Market Research (TMR). In 2014, the global smart textile market was worth US$700.0 mn and by 2023, it is projected to be worth US$7,730.0 mn. Smart textiles are fabrics that come embedded with electronics that are connected with each other.
Nanotechnology Facilitates Embedding Components in Smart Textiles
Driven by the increasing use of nanotechnology, the global smart textile market will expand remarkably in the foreseeable future. The use of nanotechnology has grown tremendously in the smart textile industry due to its valuable and unique properties. Furthermore, nanotechnology enables textiles to become multifunctional and supports embedding electronic components into the fabric. In addition to this, nanotechnology supports the production of fabrics that come with special functionality such as water and stain resistance, UV protection, and anti-bacterial.
Expanding Application Segments to Drive Global Smart Textile Market
Application-wise, the global smart textile market is classified into military and defense, healthcare, entertainment, sports and fitness, automotive, and others. The demand for wearables in these application segments is driven by the rising miniaturization of electronic components, in turn, driving the demand for smart textiles in these segments. In addition to this, the expanding healthcare, sports and fitness, and automotive segments will drive the demand for smart textiles and wearables further. The global smart textile market is dominated by the military and defense segment, followed by the healthcare segment and the entertainment segment. In 2014, the military and defense segment accounted for a share of 28.7%. By function, the global smart textile market is divided into luminescent, thermoelectricity, sensing, energy harvesting, and others. Some of the products manufactured using smart textiles are coats, gloves, and sportswear. These garments feature sensors used in different applications such as entertainment, health monitoring, and automotive.
Global Smart Textile Market Challenged by Cost Issues
Although the aforesaid trends will drive the global smart textile market, it will be constrained by the high cost of production. Furthermore, the cost of electronic devices and components will add to the price of these textiles. Moreover, the global smart textile market will be challenged by the incompatibility between smart textiles and electronics. To overcome this issue, more collaboration is required to make smart textile technology more effective in the global market.
Global Smart Textile Market Dominated by North America
According to region, the global smart textile market is divided into North America, Europe, Asia Pacific, and Rest of the World (RoW). In 2014, North America held the largest share of 40.1% in the global smart textile market. This regional market for smart textiles is projected to expand at an impressive 30.30% CAGR during the forecasting horizon. Some of the key players operating in the global smart textile market are Noble Biomaterials, Gentherm, Schoeller Technologies, Koninklijke Ten Cate, Texas Instruments, Outlast Technologies, and Globe Manufacturing Company. Players in the global smart textile market will benefit from the opportunity presented by the increasing research and development in this market.
SOURCE: The Textile World
Civil society, academics and businesses generally want Thailand to join the 12-nation Trans-Pacific Partnership (TPP) that was finalized last October, according to the Commerce Ministry. But they have also urged caution, telling policymakers to study the likely impact of TPP carefully before making any final decision. “The Commerce Ministry has had meetings with businesses, non-profit organisations, academics and the farm and livestock sector over the past few months, and they mostly said Thailand should join the new the new trade bloc," said Commerce Vice-Minister Winichai Chaemchaeng, the Bangkok Post has reported. "But we still need to hear comments from other parties, particularly in provincial areas where we are scheduled to hold meetings from February." Winichai said the business sector was particularly active in backing Thailand joining the TPP. The business sector says rice, sugar, frozen and processed shrimp, canned tuna, tapioca and starch, garments, gems and jewellery, pharmaceuticals, air transport, health tourism and direct sales would be most competitive if Thailand joined the pact. But farm operators have urged authorities to study the pros and cons, saying Thailand was not yet able to compete with TPP members in terms of production costs of animal feeds. They also urged the government to work out remedial measures for sectors that would be hit if Thailand joins the TPP.
The TPP is a trade agreement among 12 countries led by the US and includes Canada, Mexico, Peru, Chile, Australia, New Zealand, Japan, Singapore, Malaysia, Vietnam and Brunei. The 12 TPP members account for 40 per cent of Thailand's trade and 45 per cent of foreign direct investment (FDI) annually. Thailand has free-trade agreements with most of the 12 countries except for the US, Canada and Mexico. Exports to Canada and Mexico account for less than 1 per cent of exports, while FDI from the two countries account for less than 2 per cent of FDI. On the other hand, the US accounts for 8 per cent of direct investment flows into Thailand annually. The largest potential impact from the agreement on Thailand will be greater competition in the US market from TPP members. Exporters are concerned that Thai exports to the US will be less competitive than similar products from TPP members because tariffs charged on Thai products will be higher than those on products from TPP countries. Deputy Prime Minister Somkid Jatusripitak said last month that Thailand was highly likely to join the new trade bloc.
SOURCE: Fibre2fashion
The IMF has announced implementation of its long due quota reforms which was approved by the US Congress last year that will give more voting rights to emerging economies like India and China in the functioning of the organisation. The reforms by International Monetary Fund (IMF) represent a major step towards better reflecting in the institution's governance structure, the increasing role of dynamic emerging market and developing countries, IMF said in a statement, adding that this will reinforce its the credibility, effectiveness and legitimacy. For the first time four emerging market countries (Brazil, China, India, and Russia) will be among the 10 largest members of the IMF. The reforms also increase the financial strength of the IMF, by doubling its permanent capital resources to SDR 477 billion (about $659 billion). "These reforms will ensure that the fund is able to better meet and represent the needs of its members in a rapidly changing global environment. "Today marks a crucial step forward and it is not the end of change as our efforts to strengthen the IMF's governance will continue," IMF Managing Director Christine Lagarde said.
The IMF reforms that came into effect yesterday was approved by it in 2010, but was unable to implement it in the absence of its approval by the US Congress, which it did last year. As a result of the quota reforms, four emerging market countries (Brazil, China, India, and Russia) will be among the 10 largest members of the IMF. Other top 10 members include the US, Japan, and the four largest European countries (France, Germany, Italy, and the UK). Also for the first time, the IMF's Board will consist entirely of elected Executive Directors, ending the category of appointed Executive Directors.
Currently the members with the five largest quotas appoint an Executive Director. The scope for appointing a second Alternate Executive Director in multi-country constituencies with seven or more members has been increased to enhance these constituencies' representation in the Executive Board. As a result, 13 constituencies--including both African constituencies--are currently eligible to appoint an additional Alternate Executive Director, it said. IMF said following the effectiveness of the 14th General Review of Quotas, the focus will now turn to work on the 15th General Review of Quotas and securing the necessary broad consensus, including on a new quota formula. With the entry into force of the Board Reform Amendment and all other general effectiveness conditions met, members can now pay for their quota increases to make them effective.
SOURCE: The Economic Times
Growth in world trade is slowing as the slump in commodity prices and a faltering economy in China combine to restrict shipments of manufactured items and raw materials around the globe. World trade volumes rose by just 1.5 percent in the three months between September and November compared with the same period a year earlier, according to the Netherlands Bureau of Economic Policy Analysis. Volume growth has been much weaker during the current economic expansion than during previous cycles, but it has slowed even further since early 2015 (“World Trade Monitor” January 2016). Volume growth has fallen from 4.2 percent in the 12 months ending December 2014/February 2015 to just 1.5 percent in the 12 months ending September 2015/November 2015 Volumes are growing at some of the slowest rates reported since the global financial crisis in 2008/2009 and before that the U.S. recession in 2000/2001 and the Asian financial crisis 1997/1998. The slowdown in trade is hitting demand for all forms of transportation, from container and dry bulk shipping to road, rail and air freight. Container and dry bulk shipping industries, which carry the majority of world trade by volume, have been hit by a combination of stagnating demand and a surge of large new vessels. But the volume of cargo carried by airlines, which accounts for many higher-value items, was also flat or falling for much of 2015, according the International Air Transport Association.
Sluggish growth in global trade is in turn hitting the demand for fuel. Most freight moves using fuels derived from the middle and bottom of the distillation column: jet fuel, diesel and heavy fuel oil. These freight-related fuels are currently showing the weakest demand, biggest increase in stocks and weakest prices around the world. For example, U.S. stocks of jet fuel, distillate fuel oil and residual fuel oil are 15 percent, 20 percent and 33 percent higher than at the same time last year, while gasoline stocks have risen by less than 2 percent. Stocks of jet fuel, distillate and residual fuel oil are up by 5 million, 28 million and 11 million barrels respectively, while gasoline stocks are just 4 million barrels higher, according to the U.S. Energy Information Administration. The oversupply of medium and heavy fuels, which are also used for space heating, is being made worse by El Nino, which has resulted in a much warmer than usual winter across most of the northern hemisphere. Oversupply has pushed refining margins for middle distillates to the lowest since 2010, when the global economy was just emerging from the aftermath of the financial crisis
SOURCE: The Financial Express
