INTERNATIONAL
Textile Raw Material Price 2016-05-19
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1026.97 |
USD/Ton |
0% |
5/19/2016 |
|
VSF |
2040.16 |
USD/Ton |
0.08% |
5/19/2016 |
|
ASF |
1928.43 |
USD/Ton |
0% |
5/19/2016 |
|
Polyester POY |
1017.78 |
USD/Ton |
0% |
5/19/2016 |
|
Nylon FDY |
2249.84 |
USD/Ton |
0% |
5/19/2016 |
|
40D Spandex |
4438.45 |
USD/Ton |
0% |
5/19/2016 |
|
Nylon DTY |
5707.23 |
USD/Ton |
0% |
5/19/2016 |
|
Viscose Long Filament |
1262.66 |
USD/Ton |
0% |
5/19/2016 |
|
Polyester DTY |
2073.83 |
USD/Ton |
-0.37% |
5/19/2016 |
|
Nylon POY |
2104.44 |
USD/Ton |
0% |
5/19/2016 |
|
Acrylic Top 3D |
1117.27 |
USD/Ton |
0% |
5/19/2016 |
|
Polyester FDY |
2494.72 |
USD/Ton |
0% |
5/19/2016 |
|
10S OE Cotton Yarn |
1743.24 |
USD/Ton |
0% |
5/19/2016 |
|
32S Cotton Carded Yarn |
2948.51 |
USD/Ton |
0.03% |
5/19/2016 |
|
40S Cotton Combed Yarn |
3545.40 |
USD/Ton |
-0.02% |
5/19/2016 |
|
30S Spun Rayon Yarn |
2800.82 |
USD/Ton |
0% |
5/19/2016 |
|
32S Polyester Yarn |
1706.51 |
USD/Ton |
0% |
5/19/2016 |
|
45S T/C Yarn |
2448.80 |
USD/Ton |
0% |
5/19/2016 |
|
45S Polyester Yarn |
2142.70 |
USD/Ton |
0% |
5/19/2016 |
|
T/C Yarn 65/35 32S |
2938.56 |
USD/Ton |
0% |
5/19/2016 |
|
40S Rayon Yarn |
2234.53 |
USD/Ton |
0% |
5/19/2016 |
|
T/R Yarn 65/35 32S |
1851.91 |
USD/Ton |
0% |
5/19/2016 |
|
10S Denim Fabric |
1.36 |
USD/Meter |
0% |
5/19/2016 |
|
32S Twill Fabric |
0.82 |
USD/Meter |
0% |
5/19/2016 |
|
40S Combed Poplin |
1.16 |
USD/Meter |
0% |
5/19/2016 |
|
30S Rayon Fabric |
0.69 |
USD/Meter |
0% |
5/19/2016 |
|
45S T/C Fabric |
0.68 |
USD/Meter |
0% |
5/19/2016 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15305 USD dtd 19/05/2016)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Industry today hoped that the new AIADMK-led government will focus on promoting trade and make Tamil Nadu the hub for textile manufacturing. Lauding the victory of AIADMK in Assembly polls as a remarkable achievement by Jayalalithaa in the current political scenario, Southern India Mills' Association Chairman M Senthilkumar urged the chief minister to help take the textile industry to new heights, giving focus on value addition and make Tamil Nadu the hub for textile manufacturing and trade in the world map. CII Southern Region Chairman Ramesh Datla said the landmark victory strongly demonstrated the popular support for her proactive and inclusive governance in the last five years. He said CII looks forward to working closely with the Tamil Nadu government in realising the vision set out by the Chief Minister to be the numero uno State in the country.
SOURCE: The Business Standard
Extending losses for the sixth straight session, the rupee on Thursday plummeted by 39 paise to hit an over two-month low of 67.36 a dollar on persistent demand for the American currency from banks and importers, amid higher greenback overseas and a sharp fall in equities. The rupee resumed lower at 67.15 a dollar against Thursday’s closing level of 66.97 at the Interbank Foreign Exchange and dropped further to 67.39 before ending at a fresh two-month low of 67.36.
SOURCE: The Hindu Business Line
Amazon India today forged a partnership with Development Commissioner Handloom of the Union Ministry of Textiles under which it will educate, train and enable cooperatives and weavers to directly sell their products on the online portal. The partnership allows Amazon India to engage with weavers in Kota in Rajasthan, Nadia in West Bengal, Bargarh in Odisha, and Bijoynagar in Assam. The products will carry government certifications 'India Handloom Brand' and 'Handloom Mark', ensuring availability of quality products to shoppers across the globe, Amazon India said. The company has already deployed teams in the four states and conducted workshops in Kota and Bargarh, introducing weavers to online selling and Amazon.in's seller services that will help them kickstart their online business, it said. Alok Kumar, Development Commissioner (Handlooms), said "Authentic handloom products have always found resonance with shoppers. Our partnership with Amazon India will allow weavers to satiate this demand by making their products available in all corners of India. Weavers will also get the right value for their offerings through this direct sales channel." Gopal Pillai, Director & GM, Seller Services, Amazon India, said all products listed by weavers will be available through the 'Crafted in India' store on Amazon.in that was launched recently, which aims to bring the rich Indian heritage of handicraft and handlooms to Indian consumers' doorsteps.
SOURCE: The Economic Times
With talks around an expanding free trade agreement (FTA) in the works, momentum appears to be on Sri Lanka’s side, particularly with a rebalancing of foreign policy following the election of President Maithripala Sirisena early last year. The Indo-Sri Lanka FTA (ISFTA) has been in effect since 2000, allowing Sri Lanka to export over 4,000 items to India duty free, with negative lists and quota systems in place. Since the agreement was enacted, the results have been positive for Sri Lanka. The proposed ETCA aims to boost collaboration in technical areas, scientific expertise and research among institutions, in addition to improving standards for goods and services and opening the door for human resource development and training. “There is simply no way we can keep India out of our economic equation. Broadly speaking, a practical approach must be employed. We cannot let overt nationalism blind us to the realities,” Ceylon Chamber of Commerce Chairman Samantha Ranatunga said.
India remains one of the largest foreign investors in Sri Lanka, with $844m recorded in the decade to 2015, according to Sri Lanka’s Board of Investment. Several Indian companies are also major players in the Sri Lankan economy. Many analysts also point to the opportunity that Sri Lankan companies have in accessing the South Asian market of around 300 million people, with numerous firms already taking advantage of the growth in areas like apparel manufacturing and hospitality. Due to connectivity issues, Sri Lanka is in many casesable to access southern India more efficiently than northern India can directly, which presents opportunities in manufacturing and transportation, provided the right systems are in place. The majority of trans-shipments already come to and from India, representing 12% of total Indian throughput. With excess capacity, there is scope to improve maritime activity and links to the region. “I think that the top priority is to strengthen ties with southern India by tackling the non-tariff barriers and extending the existing FTA to include services,” Institute of Policy Studies Chairman Razeen Sally told OBG. A proposal to link the two countries’ electricity grids could ultimately see improved reliability and stability of the Sri Lanka power supply and, in the long run, allow the country to purchase and export electricity depending on variability in price. “While it can be difficult for countries to come to an agreement on free trade, we must focus on achieving a mutually beneficial consensus around specific items,” Deputy Foreign Affairs Minister Dr. Harsha de Silva told OBG. “We must remain mindful of the benefits of integration into a larger, international market.”
SOURCE: The Daily News
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 45.51 per barrel (bbl) on 19.05.2016. This was lower than the price of US$ 46.72 per bbl on previous publishing day of 18.05.2016.
In rupee terms, the price of Indian Basket decreased to Rs. 3059.64 per bbl on 19.05.2016 as compared to Rs. 3126.44 per bbl on 18.05.2016. Rupee closed weaker at Rs 67.23 per US$ on 19.05.2016 as against Rs 66.91 per US$ on 18.05.2016. The table below gives details in this regard:
|
Particulars |
Unit |
Price on May 19, 2016 (Previous trading day i.e. 18.05.2016) |
Pricing Fortnight for 16.05.2016 (28 Apr to 11 May, 2016) |
|
Crude Oil (Indian Basket) |
($/bbl) |
45.51 (46.72) |
43.00 |
|
(Rs/bbl |
3059.64 (3126.44) |
2859.50 |
|
|
Exchange Rate |
(Rs/$) |
67.23 (66.91) |
66.50 |
SOURCE: PIB
The training institution for textiles and apparels manufacturing, called Textile and Clothing Institute of Botswana (TCIB), is expected to open its doors next month, said of the Botswana Textile and Clothing Association, Mohammad Shahid Ghafoor. The training institution is a step in the right direction for the local industry which will offer one year certificate courses in clothing manufacturing in a wide variety of skills. Industry players said that the establishment of an institution of this kind bodes well for the country’s shortage of skilled manpower. Refilwe Jobe, manager of Mahalapye-based Window Décor and Fabrics Designers said that the institution is a welcome development, especially if it focuses more on practical education than theory. Most of the students who come to them as interns seem to have limited skills when it comes to textiles and apparels manufacturing. In her company, Jobe said that they face challenges when it comes to finding people with cutting skills, noting that the institution could be the answer to their shortage. She also assured that her company will be watching the progress of the institute to see if it produces quality graduates with the intention of enrolling workers for further studies. Window Décor and Fabrics Designers, which is situated at Botalaote Ward in Mahalapye, specializes in manufacturing women’s and men’s attire, dresses, suits, curtains, beddings and interior décor. Currently, the company supplies its products to the local market. Shawn Ntlhaile, who owns Rinimy Enterprises in Jwaneng a firm manufactures and supplies school uniforms, protective clothing, sports and corporate wear and promotional gift items said that the training centre would be more beneficial if it will improve the quality of the textile personnel and assist in curbing the shortage of skilled workers.
According to Ntlhaile, lack of skilled manpower has adverse effects on the quality of locally-produced goods. He stated that the local textile and clothing industry faces fierce competition from large chain stores that are mostly South African. The government should protect the local industry by coming up with laws that make it compulsory for foreign business people to partner with locals in setting up enterprises locally. The local clothing and textile industry will soon get a boost as the Botswana Qualifications Authority (BQA) has approved the establishment of a training institution for the sector. Meanwhile, the founder of the institution is adamant that it will be a renowned training and technical service provider to cater for the growth and needs of the textile and clothing industry. While for other industry players like Pinnie Maruatona, director of Task Manufacturers Botswana, the establishment of the institution should be scrutinized to see if it will really serve its purpose.
SOURCE: Yarns&Fibers
Italian textile machinery manufacturers witnessed a recovery in orders from the domestic market during the first three months of 2016. However, orders dropped off slightly in foreign markets. Overall orders increased by 3 per cent in first quarter compared to the same period the previous year, an industry survey conducted by Association of Italian Textile Machinery Manufacturers (ACIMIT) showed. The value of the index for the first quarter of 2016 came in at 93.6 points (basis 2010=100). This growth factor regarded only Italy, where the index recorded an absolute value of 65 points (+82 per cent compared to January-March 2015, which had recorded the lowest point in terms of orders in recent years). Abroad, the value for orders came in at 100 points, a 3 per cent drop over the same quarter for 2015. “The ACIMIT survey has certainly highlighted a positive moment, which is also a consequence of what was witnessed at the last edition of ITMA, held in Milan last November. Many Italian textile manufacturers have returned to investing, thanks above all to the support provided by the current government, with measures that promote the acquisition of machinery,” commented ACIMIT president Raffaella Carabelli, on the encouraging signs from the domestic market. However, the situation appears less encouraging on foreign markets. “The current global economic situation is not too much positive,” said Carabelli. “The recovery in China in 2015 has yet to be verified, while other Asian countries, such as Bangladesh, which invested significantly last year, are showing signs of slowing down. The outlook for 2016 is spotty at best,” she added.
SOURCE: Fibre2fashion
The Manufacturers Association of Nigeria (MAN) has called for policy measures for the revival of the textile sub-sector of the economy following a rash of closures of cotton, textile and garment mills, the Leadership newspaper has reported. It described the government's plan to create three million new jobs in the textile industry as an ambitious one which can only be actualised if there is a strong political commitment to the achievement of the objective. “This is so because no fewer than 145 cotton, textile and garment (CTG) mills across the country have collapsed till date, and as such the government will have to put effective measures to restore the sector which President Muhammadu Buhari has resolved to make a fulcrum of his job creation drive,” the MAN stated. Nigeria's Minister of State for Industry, Trade and Investment, Hajiya Aisha Abubakar, recently said that the textile industry, which used to be the country's second biggest employer, has virtually collapsed. She had said that there are many factors have been responsible for the sorry state of the industry, including the instability of power supply, high cost of production, competing cheap textile imports from Asian countries and the uncontrolled smuggling and dumping of sub-standard textile materials in the country.
Despite the Minister acknowledging the reasons for the textile industry's downfall, MAN said very little has been done to address these problems. It said that despite the huge potential of the textile sub-sector to create jobs and boost the economy, there has not been much evidence of commitment to their actualisation. The institution of a 100 billion naira ($0.5 billion) Intervention Fund for the industry by the last government in 2010, did not do much to bring the CTG sub-sector back to its feet. Figures from the MAN on the intervention fund revealed that capacity utilisation in the sector increased only marginally, the report said.
SOURCE: Fibre2fashion
Despite increasing number of countries competing in the garment export business, the United States was still the key buyer and the main market for Cambodian garment and textile industry, said the Minister of Labor Lth Sam Heng after a meeting with US ambassador William Hiedt at the ministry on Wednesday. Mr Sam Heng said that the United States’ market is still very important for them. Although it is now the second biggest importing market after the European market, it is still big and worth billions of dollars. So they are still trying to work well with buyers from the United States and get to place more orders to them. Mr. Sam Heng said that the ambassador raised the issue of imports during a discussion about the union law, saying the law should be implemented fairly among concerned parties in the interests of the industry. There are just a few issues about the implementation of the union law of concern and they are required to carry it out fairly with all trade unions and no discrimination. They think that the law is in line with the interests of employees and employers as well as the investment climate of their country. And they will try their best to implement it.
According to data from the United States Trade Office, total exports to the US dipped about 3 percent in the first quarter of the year to more than $706 million compared with $725 million in the same period last year. Seung Sophari, a spokeswoman for the Ministry of Commerce (MoC) said that the slight drop in exports to the US in the first quarter was mainly due to the current electoral campaigns in the US and the rise of new exporting countries like Myanmar. However, she was optimistic that the figures will improve soon. Ulrika Isaksson, a spokeswoman for Swedish retailer H&M, said that the company had been checking the law since it was drafted because of concerns by workers, trade unions and NGOs. The International Labor Organization (ILO) has warned the legislation may violate local law and breach international conventions signed by the government. They are at the moment analyzing the new law and can’t go into details except that they now need to look closely at how this will affect their ongoing work on strengthening industrial relations and ensuring that freedom of association and the right to organize is respected throughout their supply chain in Cambodia. . According to figures from the Garment Manufacturers Association in Cambodia, the garment and footwear industry plays a critical role in the economy, representing 70 percent of total exports and employing more than 700,000 workers. The total exports from the sector were worth $6.3 billion last year, a slight increase of 7.6 percent from the previous year. Cambodia is now the US’s 70th largest goods trading partner with $3.0 billion in total between the two countries, the US’s 129th largest goods export market and also the US’s 60th largest supplier of imported goods in 2013, according to the Office of the United States Trade Representative.
SOURCE: Yarns&Fibers
The global textile industry is valued at over $1 trillion, ranking as the second largest industry in terms of intensity of trade. Textiles are also the fastest growing sector in household waste. Discounting and low retail prices over the last two decades have led to a dramatic increase in the consumption of clothing, with a resultant rise in textile waste from the consumer. More than three million tons of textiles are thrown away each year in the EU alone. To address this growing challenge of textile waste, VTT Technical Research Center of Finland and Aalto University are participating in an EU project called Trash-2-Cash. The project brings together designers, researchers, materials suppliers and textile manufacturers from all over Europe to solve the problem by recycling and development of high-performance fibers. The Trash-2-Cash project team, which includes experts from all levels of the production chain, is looking to develop techniques that can be used to spin, knit, sew or design innovative, highquality products from used textile fibers. Thetechniques for pre-processing and washing waste textiles, separating fibers, and fiberization are designed to be eco-friendly and efficient. The role of VTT is to focus on breaking down the fibers in waste textiles and making them suitable for the cellulose carbamate process. The Ioncell cellulose fiber manufacturing process will be carried out at the Aalto University. The Ioncell-F process has proved to be particularly suitable for the recycling of cellulose waste.
Designers play an important role in the project to ensure the quality, performance and appearance of the new products appeal to consumers. The aim is to find new markets and uses for recycled textile fibers. Demo products will be manufactured together with commercial partners throughout the project. The Trash-2-Cash project is part of the EU’s Horizon 2020 program, and will run from 2015 until 2018. The total budget is EUR 8.9 million, of which EU funding accounts for EUR 7.9 million. The project team includes 18 organizations from 10 EU countries. The project is coordinated by SP Technical Research Institute of Sweden. In addition to VTT and Aalto University, Finnish participants include the children’s clothing manufacturer Reima.
SOURCE: The Just Means
Indonesia can unlock access to the main TPP countries such as the US, Canada and Mexico as well as other Latin American countries, which will cut tariff barriers from between 2 and 5 percent to zero. Exporters will save $1.3 billion from the tariff cuts and it will create a $306 million trade diversion, said the senior advisor for economic and public policy at the Australia Indonesia Partnership for Economic Governance ( AIPEG ) Ahmad Shauki in Jakarta on Wednesday. As the Trans Pacific Partnership ( TPP ) can increase Indonesian exports by at least US$2.9 billion and the same time Indonesia might see swollen imports too, especially for capital goods like machinery, steel, sugar and plastic leading to a reduced trade surplus from $3.1 billion to $2.2 billion after joining the TPP. However, total trade would significantly rise. The sectors to benefit most would be footwear and textiles, which could increase by 22 and 18 percent respectively. Both sectors could contribute 70 percent of the potentially increased exports. Meanwhile, Center of Reform of Economics (Core ) Indonesia research director Mohammad Faisal warned that not joining the TPP would transfer this potential to Vietnam, which is already a member of the TPP. Vietnam is their toughest competitor because the product mixture is similar.
According to Faisal, the tariffs imposed by the US on ASEAN countries, including Vietnam and Indonesia, are almost similar. But they have problems such as high transportation costs, rising fuel prices and increasing labor costs without increased productivity. With regard to labor costs, Indonesia’s are lower than Thailand, China and Malaysia but higher than India, Vietnam and Cambodia. However, unlike in Thailand, the wage disparity in Indonesia between rural and urban areas is very wide. However, Indonesia’s exports to the US are stable in the last decade with 6 percent growth from 2001 to 2015. While, Vietnam’s exports to the US in the same period has jumped by 242 percent even before joining the TPP.
SOURCE: Yarns&Fibers
Weak growth in emerging markets, driven by low commodity prices and waning export demand, will continue to act as a drag on the global economy this year, according to Moody's Investors Service. India will be an exception where growth will pick up slightly, climbing to 7.5 per cent in 2016 and 2017, from 7.3 per cent in 2015. India, as a net importer of commodities, has benefited from falling prices and growth will be driven by rising consumption. However, a sustained improvement in domestic private investment would be required for the growth momentum to be sustained, it said. Moody's has lowered its 2016 growth forecasts for Argentina, Brazil, Mexico and Turkey, as the effects of the weaker external demand and lower commodity prices have compounded domestic structural and political challenges. It currently forecast G20 emerging markets growth at 4.2 per cent for 2016 compared to 4.4 per cent in 2015. For G20 advanced markets growth is forecast at 1.7 per cent for 2016 compared to 1.9 per cent in 2015. "The global recovery has weakened further and the outlook across countries remains uneven and largely weaker than in the previous two decades," said Elena Duggar, an Associate Managing Director at Moody's. "Global trade remains subdued, while spillovers from emerging markets shocks to financial markets globally have increased substantially." A more pronounced slowdown in China's economy than anticipated is currently one of the biggest risks to the global economy. Slower growth in China, the world's second-biggest economy, could have a significant knock-on effect on global growth by increasing risk aversion, ramping up financial market stress, and souring sentiment.
China's economy will slow gradually from 6.9 per cent in 2015 to around 6.3 per cent in 2016, guided by policies intended to bolster growth, according to the report "Global Macro Outlook 2016-17 -- Further Weakness in Emerging Markets Amid Persistent Downside Risks." "The fears of a Chinese hard landing have eased in recent months with data suggesting the economy is stabilizing," said Madhavi Bokil, a Vice President and Senior Analyst at Moody's. "However, the government's focus on achieving specific growth targets, could come at a cost to the quality of growth." China's growth continues to be supported by increased borrowing, which ultimately will increase longer-term risks, particularly within the banking system. Moody's expects that the Federal Reserve will raise its benchmark interest rate at most twice this year. Policy makers will raise rates gradually, giving investors ample forward guidance as they seek to minimize the negative impact that higher borrowing costs will have on growth and the potential disruption they could cause to global capital markets.
SOURCE: Fibre2fashion
Foreign banks and businesses should not hold back from conducting legal business with Iran, Western powers said today. In a joint statement released after talks in Brussels, the United States, the European Union, France, Britain and Germany sought to reassure companies that, after the Iran nuclear deal, certain forms of trade are permitted. “We will not stand in the way of permitted business activity with Iran,” the four powers plus the European Union said. “And we will not stand in the way of international firms or financial institutions engaging with Iran, as long as they follow all applicable laws,” they added. Under the terms of the Iran nuclear deal signed last year and implemented in February, international sanctions aimed at Tehran’s nuclear programme have been dropped. But the United States has maintained its sanctions targeting Tehran’s alleged sponsorship of armed movements in the Middle East and its ballistic missile programme. European banks, which often have subsidiaries on US soil, have therefore been slow to resume business with Iran, fearing prosecution in the United States. But, a joint statement by the western parties to the Joint Comprehensive Plan of Action (JCPOA), the implementation side of the Iran deal, gave business the green light. “The interest of European and other global firms in Iran is high. And it is in our interest and the interest of the international community to ensure that the JCPOA works for all participants, including by delivering benefit to the Iranian people,” the statement said. “This includes the reengagement of European banks and businesses in Iran.”
US Secretary of State John Kerry – a key architect of the Iran deal – was in Brussels for a NATO ministers meeting, and held talks on the Iran deal while he was there. President Barack Obama’s administration has been criticised at home for moving too quickly to allow Iran to return to the international fold after agreeing to nuclear controls. But Tehran’s leaders have complained that the deal was oversold, arguing that they upheld their end of the bargain in surrendering most of their nuclear enrichment capacity in return for sanctions relief. Meanwhile, European banks have been reluctant to renew ties with the Islamic republic, fearing that – despite the end of some sanctions – they could fall foul of US law. “We understand that firms may continue to have specific sanctions-related questions or concerns about doing business in Iran,” the statement said. “And we stand ready to provide expeditious clarifications,” it added, encouraging banks and other enterprises to come forward and seek advice as to how to deal legally with Iran. “We encourage firms to approach our governments to address remaining questions, rather than forgo opportunities due to misperceptions or lack of information.”
SOURCE: The Financial Express
Prime Minister Nawaz Sharif has performed groundbreaking of Pakistan-China Optical Fiber Cable Project in Gilgit today (Thursday). Federal Ministers Birjees Tahir and Anusha Rehman are accompanying the Prime Minister. The $44 million project, a part of China Pakistan Economic Corridor (CPEC), will be completed in two years. Special Communication Organization will lay 820 kilometre long cable from Rawalpindi to Khunjarab to provide an alternate telecommunication route between Pakistan and China. Through this project, a link will be created between Pakistan and Trans-Asia Europe (TAE) cable in China, which would enable both Pakistan and China to have alternative routes for their international telecom traffic. The project will also facilitate trade, tourism and IT awareness in the region and generate economic opportunities particularly in Gilgit-Baltistan. The agreement to lay optic fibre between the two sides was signed during Prime Minister Nawaz Sharif‘s official visit to China in early July, 2013. Separately, Prime Minister Nawaz Sharif also inaugurated Gilgit-Baltistan CPEC patrolling police headquarters in Gilgit. The patrolling force comprising 300 personnel will help ensure safe and smooth flow of traffic on the 439-kilometre chunk of the CPEC project in Gilgit. China has gifted twenty-five vehicles for the patrolling police. During his visit, the Prime Minister also administered oath to the newly elected members of Gilgit Baltistan Council.
SOURCE: The Dunya News
