INTERNATIONAL
Textile Raw Material Price 2016-06-02
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
999.44 |
USD/Ton |
-0.15% |
6/2/2016 |
|
VSF |
2050.52 |
USD/Ton |
0% |
6/2/2016 |
|
ASF |
1913.81 |
USD/Ton |
0% |
6/2/2016 |
|
Polyester POY |
969.82 |
USD/Ton |
0.55% |
6/2/2016 |
|
Nylon FDY |
2217.59 |
USD/Ton |
0% |
6/2/2016 |
|
40D Spandex |
4328.87 |
USD/Ton |
0% |
6/2/2016 |
|
Nylon DTY |
2445.43 |
USD/Ton |
0% |
6/2/2016 |
|
Viscose Long Filament |
5663.98 |
USD/Ton |
0% |
6/2/2016 |
|
Polyester DTY |
1230.31 |
USD/Ton |
0% |
6/2/2016 |
|
Nylon POY |
2058.11 |
USD/Ton |
0% |
6/2/2016 |
|
Acrylic Top 3D |
2088.49 |
USD/Ton |
0% |
6/2/2016 |
|
Polyester FDY |
1101.20 |
USD/Ton |
0.69% |
6/2/2016 |
|
30S Spun Rayon Yarn |
2764.40 |
USD/Ton |
0% |
6/2/2016 |
|
32S Polyester Yarn |
1672.31 |
USD/Ton |
-0.09% |
6/2/2016 |
|
45S T/C Yarn |
2430.24 |
USD/Ton |
0% |
6/2/2016 |
|
45S Polyester Yarn |
1807.49 |
USD/Ton |
0% |
6/2/2016 |
|
T/C Yarn 65/35 32S |
2126.46 |
USD/Ton |
0% |
6/2/2016 |
|
40S Rayon Yarn |
2916.29 |
USD/Ton |
0% |
6/2/2016 |
|
T/R Yarn 65/35 32S |
2217.59 |
USD/Ton |
0% |
6/2/2016 |
|
10S Denim Fabric |
1.35 |
USD/Meter |
0% |
6/2/2016 |
|
32S Twill Fabric |
0.81 |
USD/Meter |
0.19% |
6/2/2016 |
|
40S Combed Poplin |
1.16 |
USD/Meter |
0% |
6/2/2016 |
|
30S Rayon Fabric |
0.68 |
USD/Meter |
0% |
6/2/2016 |
|
45S T/C Fabric |
0.67 |
USD/Meter |
0% |
6/2/2016 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15189 USD dtd. 04/05/2016)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
After a brief period of shutdown, Reliance Industries Limited (RIL) has restarted its purified terephthalic acid (PTA) plants, and is ramping up production to full capacity at its Dahej manufacturing unit in Bharuch district of Gujarat. Earlier this week, RIL had temporarily shut down its PTA and PET plants at Dahej due to shortage of the right quality of industrial water at Dahej complex because of lower release of dam water and the significantly increased salinity in water supply. During the shutdown period, RIL ensured PTA supplies to downstream customers from its Hazira and Patalganga plants. However, with the Dahej PTA plants now operational, the customers will be getting PTA from all the three locations, RIL said. “RIL has a total PTA capacity of 4.2 million tonnes per year. In India, the current total PTA capacity, including that of RIL, is 6 million tonnes. Another 1.2 million tonnes of PTA capacity will be added in the current year itself. However, the total PTA demand in India is around 5 million tonnes. Therefore, the surplus PTA is being exported as India has sufficient PTA to meet the requirements of its polyester industry,” a RIL spokesperson said.
SOURCE: Fibre2fashion
Manipur has the highest concentration of weavers and also highest concentration on the possession of loom in the country, according to the state's Directorate of Information & Public Relations. India's population in 2011 is reported as 1210 million including 2.72 million of Manipur which is 0.22 per cent of the country's population. The Handloom Census 2009-10 reported that Manipur has 2.04 lakh handloom workers (or 5.30 per cent of India's handloom workers) and 1.90 lakh loom workers (8.02 per cent of the national figure). Thus, Handloom is the most important and fast growing cottage industry in the state, the DIPR said. The primary objective of Handlooms & Textiles Section under the Department of Commerce & Industries, Govt. of Manipur is to promote the socio-economic conditions of the handloom weavers and to work for the harmonious growth of this sector. The Department has implemented various promotional, development and welfare schemes for the better earning and wellbeing of weavers of Manipur. Over a period of Three Five Years Plan, (2002-07, 2007-2012 and 2012-17), the Handloom sector has tremendously improved in all fronts. The thrust has been on margin money which is a form of financial assistance provided to weavers to avail credit facilities from FI/Banks, skill upgradation, common facility centre (CFC), loom, jacquard, dobby and accessories, construction of workshed, opening of yarn depots, providing employment to unemployed diploma and degree holders and recapitalization of handloom societies, it said.
SOURCE: Fibre2fashion
Cotton remained unchanged as demand was limited at the higher level. Kapas or raw cotton traded flat on weak ginning demand. Traders said that after the cotton price rise, demand from domestic mills had declined, restricting the price on Friday. Gujarat Sankar-6 cotton stood at Rs. 37,300-37,500 per candy of 356 kg. The country saw 30,000 bales of 170 kg each arrive with Gujarat accounting for 13,000 bales. Kapas traded at Rs. 980-1,040 per 20 kg and gin delivery kapas was at Rs. 1,050-1,080. Cottonseed remained steady at Rs. 525-550 per 20 kg.
SOURCE: The Hindu Business Line
The government is looking to develop a port in Bangladesh, after signing a pact to develop a port in Chabahar, Iran. “Bangladesh is very much keen to work with us and hence the Ministry of Shipping, the Ministry of External Affairs and the government of Bangladesh are currently in talks to explore options available there (in Bangladesh),” Union Minister for Shipping, Highway and Road transport Nitin Gadakari said. He also described the recently concluded Chabahar port development agreement with Iran as a game changer. “Gas and electricity are cheaper in Iran, while in our country there is a shortage of gas. Further, the Chabahar port will give direct access to Indian goods to the markets in Afghanistan, Central Asia and Eastern Europe, bypassing Pakistan,” he said.
Chabahar port development is set to complete within 18 months and has an investment of Rs 650-700 crore. Kandla port in Gujarat would benefit the most by the Chabahar port agreement, said Gadkari. “The agreement with Iran will not just help Kandla but will accelerate growth in Gujarat.” In the year ended March, among the 12 major ports, Kandla handled the highest cargo of 100.05 million tonnes. The total cargo handled by all the major ports stood at 606.37 million tonnes, said a ministry release. These ports garnered a net profit of Rs 4,200 crore, which the ministry would use for development of the sector. Gadkari on Friday highlighted the shipping ministry’s achievements in the last couple of years, along with its plans for the coastal shipping sector. He addressed the media in all coastal states through video conference.
To boost port-led development, the ministry plans to add two ports in Andhra Pradesh and two in Tamil Nadu. A fifth one is being set up in Karnataka at Rs 4,200 crore. “The location for the four new ports is yet to be identified and a study is underway,” said Gadkari. The government aims to make an investment of Rs 25 lakh crore in ports and inland waterways and plans to create 50 million jobs along the coastline. Specific to investment in Maharashtra, the state is set to get Rs 95,000 crore for port-related projects under the Centre’s port and port-led development programme. This investment includes two expressways connecting the Ahmedabad-Mumbai industrial corridor and the Sanathnagar industrial cluster near Hyderabad with the Jawaharlal Nehru Port (JNPT) in Navi Mumbai. While the Ahmedabad Expressway project would cost Rs 18,000 crore, the Hyderabad-Mumbai project is likely to be implemented at Rs 22,000 crore. In addition, a port was being set up at Wadhavan near Dahanu with an investment outlay of Rs 9,300 crore, said Gadkari. He said a steel cluster would come up in Southern Maharashtra/Goa region with an investment potential of Rs 10,500 crore.
SOURCE: The Business Standard
In what could provide a big boost to its Skill India campaign by providing easy placement opportunities, the government has rolled out an ambitious online portal that would connect the over one crore workers trained annually with potential employers. Developed by the National Skill Development Agency (NSDA), an alpha version of the website of the Labour Market Information System (LMIS) has just started working and a beta version is likely to be launched by Prime Minister Narendra Modi soon. “The goal is that eventually, all certified and trained candidates can use the LMIS as a job portal,” said a second official. With a target of skilling 40 crore workers by 2022, the objective is to ensure that students who wish to be skilled can enrol on the website for a training course and then eventually get placed through it. “It will be linked with 10 repositories, including assessors, training providers and institutions, employers, potential candidates as well as courses,” said an NSDA official, adding that at present the website allows candidates to register and connect with training and skilling institutes. The website is being further developed to include the demand-side or the database of employers, who can then look at available candidates and recruit them.
Foreign employers
The NSDA is also in talks with the External Affairs Ministry to include foreign employers, such as those from the Gulf countries onto the LMIS. “We want to link the e-migrate system to this,” said the official. The Ministry of Skill Development and Entrepreneurship is also hoping that the LMIS will help in providing inputs on strategic policy planning. “It will give us real-time data on sectors where most jobs are being created and require more candidates, as well as feedback on schemes and courses,” said the second official. The NSDA is also developing a mobile app for the website.
SOURCE: The Hindu Business Line
Foreign exchange reserves as on May 27 fell by $711.60 million from a week ago to $360.193 billion, according to data from the Reserve Bank of India. Foreign currency assets (FCAs), which form a key component of the reserves, fell by $711.90 million from the previous week to $336.227 billion. FCAs are maintained in major currencies such as dollar, euro, pound sterling, yen, etc. However, foreign exchange reserves are denominated and expressed only in US dollar. The movements in the FCAs occurs mainly on account of purchase and sale of foreign exchange by the RBI in the foreign exchange market in India, income arising out of the deployment of the foreign exchange reserves, external aid receipts of the central government and revaluation of assets. Gold reserves, however, remained unchanged at $20.043 billion. Special drawing rights (SDR) from the International Monetary Fund remained steady at $1.498 billion. SDR is an international reserve asset created by IMF and allocated to its members in proportion of the members’ quota at IMF. The country’s reserve position in the IMF stood at $2.425 billion as on May 27, up $0.3 million from the previous week.
SOURCE: The Financial Express
India’s bilateral talks for a preferential trade agreement (PTA) with South American countries’ bloc Mercosur are getting delayed as some of the members have sought more time to address concerns raised by the Indian side. As reported by FE earlier, a high-level delegation from the external affairs and commerce ministries was expected to visit Montevideo in Uruguay for the joint commission meeting. However, a senior government official told FE that “the visit to Uruguay has been postponed and fresh dates are being worked out as some of the member countries have not come back with views of their governments. This is because there have been political changes in member countries like Argentina and Brazil”. “The bilateral trade flow could increase several-fold if the India-Mercosur PTA were to be restructured in keeping with the emerging opportunities for trade expansion. Although India’s bilateral trade with the Latin America and Caribbean (LAC) region has increased significantly from $3.7 billion a decade ago to $45 billion 2014-15, it is still a small fraction,” said a senior commerce ministry official.
Officials from India and Mercosur are already developing a list of new products to be included in the expanded PTA. The expansion of the agreement will be of strategic importance to boost trade relations between the countries involved and the trade volume target set at $30 billion in 2030. The two regions strongly complement each other in areas such as energy, minerals, pharmaceuticals, chemicals, information technology and automobiles.
Speaking to FE earlier, Carlos E Orlando, ambassador of Uruguay to India had said, “We are interested in the expanded PTA between Mercosur and India as it would benefit us too. Uruguay needs investments to be made in several areas and may also collaborate with India, especially in food products, auto assembly plants and logistic projects.” Mercosur has become a successful regional market of 260 million people and $2 trillion of GDP. It is the third largest integrated market after the EU and NAFTA. Its full members are Argentina, Brazil, Uruguay and Paraguay.
Obstacles
SOURCE: The Financial Express
Ahead of Prime Minister Narendra Modi's visit here, a top US business advocacy group has asked the Obama administration to re-launch bilateral investment treaty ( BIT ) negotiations with India as soon as possible and support its membership in the APEC grouping. The US India Business Council ( USIBC ) - which represents about 350 American companies having footprint in India - said this in a joint letter to Secretary of State John Kerry , Commerce Secretary Penny Pritzker and US Trade Representatives Mike Froman. The latter dated May 25 was posted on USIBC blog this week. "The US Government should consider formally re-launching our bilateral investment treaty (BIT) negotiations with the Government of India as soon as possible," said the USIBC president Mukesh Aghi in his letter. "While both governments took a break from the negotiations on account of revising the model BITs, it is important for us to come back to the negotiating table to develop a way-forward on concluding a high-quality BIT," it said.
USIBC in its letter urged the US Government to support India's entry in the 21-member Asia-Pacific Economic Cooperation (APEC). "USIBC recognises that participation in APEC is a two-way street, and we similarly have been encouraging the Government of India to participate in APEC discussion groups of their choice as an observer to better understand the requirements of membership," the letter said. "While USIBC appreciates that the US Government may have other trading partners that it also would like to nominate for membership into APEC, we believe that the US Government could nominate India for APEC membership without slighting other trade partners. This is especially true give the size and importance of India's economy," USIBC said.
Recommending that the US Government develop a longer-term strategic trade goal with India -- its eventual membership into the Trans-Pacific Partnership ( TPP ) and or a bilateral Free Trade Agreement ( FTA ) - USUBC recognised that much work remains on both sides before such a trade deal would be politically feasible. "But now more than ever we need to set our sights on a long-term trade-focused goal, and take small steps towards that goal," it said. "As you will agree, international trade can be a difficult topic for domestic politics, as we are seeing in our own US elections. Nevertheless, USIBC believes that we are at a moment in time where the US Government ought to double down its efforts to secure its trade relationship with India," the apex business advocacy group said. India is a trading partner of utmost importance and US companies and citizens are better served by working with the Government of India as they continue to liberalise trade, it said. Modi's US visit next week, USIBC said, is an opportune time to cement the progress made on trade over the past several years.
SOURCE: The Economic Times
Union Home Minister Rajnath Singh has appealed to the United States to increase investments in irrigation, cyber and homeland security in India while shunning the protectionist approach. "Indo-American business value could go up to $500 billion in the coming years if the country shuns its protectionist approach and explores investment opportunities in Goods and services, cooperation for rural development including irrigation and agriculture," said Singh, who was in the city to inaugurate a two-day Indo-American Chamber of Commerce National Conclave themed at increasing US-India trade to $500 billion. The minister said that as India is marching ahead on the modernisation plans of its police and focussing on cyber and homeland security where the United States holds 75% market share, it would be a big investment opportunity for US investors.
Speaking on the US visa fee hike row, the minister said that US should adopt a rational approach. India is looking to have a trade of around $500 billion by 2020 with the USA which currently stands at over $103 billion and is eyeing sectors like aerospace and defence, infrastructure and logistics, energy, services and manufacturing sectors while also signing of new trade agreements between both the countries.
SOURCE: The Economic Times
Commerce and Industry Minister Nirmala Sitharaman has suggested her European Union counterpart Cecilia Malmstrom to resume the long-stalled negotiations over the proposed free trade agreement. Sitharaman tweeted that she "suggested chief negotiators should start talks on Ind-EU BTIA ". Both the ministers met on the sidelines of an Organisation for Economic Cooperation and Development's ( OECD ) Ministerial Council Meeting yesterday in Paris. The negotiations launched in 2007 for the proposed Broad-based Trade and Investment Agreement (BTIA) have seen many hurdles with both sides having major differences on crucial issues like intellectual property rights, duty cut in automobile and spirits, and liberal visa regime. Before this meeting, senior officials from both the sides had met twice this year to resolve the contentious issues. The pact is aimed at reducing or significantly eliminating tariffs on goods, facilitate trade in services and boost investments between the two sides. The two-way commerce in goods between India and the EU stood at USD 98.5 billion in 2014-15.
SOURCE: The Economic Times
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 46.83 per barrel (bbl) on 02.06.2016. This was higher than the price of US$ 46.38 per bbl on previous publishing day of 01.06.2016.
In rupee terms, the price of Indian Basket increased to Rs. 3149.48 per bbl on 02.06.2016 as compared to Rs. 3124.10 per bbl on 01.06.2016. Rupee closed stronger at Rs 67.25 per US$ on 02.06.2016 as against Rs 67.35per US$ on 01.06.2016. The table below gives details in this regard:
|
Particulars |
Unit |
Price on June 1, 2016 (Previous trading day i.e. 31.05.2016) |
Pricing Fortnight for 16.06.2016 |
|
Crude Oil (Indian Basket) |
($/bbl) |
46.83 (46.38) |
46.88 |
|
(Rs/bbl |
3149.48 (3124.10) |
3153.62 |
|
|
Exchange Rate |
(Rs/$) |
67.25 (67.30) |
67.27 |
SOURCE: PIB
Turkmenistan's ministry of textile industry and the chamber of commerce and industry are jointly organising an international exhibition showcasing the country's textile products in Ashgabat from June 4, 2016. The theme of the two-day fair is that Turkmen textile industry is on the way to a new stage of development. Various Turkmen companies will display samples of cotton fibre, cotton yarn and fabrics, denim wear, knitwear, silk fibre and yarn, unique handmade silk carpets, and the national fabric keteni at the expo. Turkmenistan is a traditional cotton growing country, and its textile industry plays a major role in the country's economy. This year, the country's cotton production is estimated at 1.05 million tons. Turkmen textile products are mainly exported to the US, the UK, China, Canada, Italy, Germany, Ukraine and Russia.
SOURCE: Fibre2fashion
The value-added textile industry has welcomed the budget, saying that the government has offered the best possible under the prevailing circumstances. Shehzad Azam Khan, Chairman Pakistan Knitwear and Sweater Exporters Association (PAKSEA), said the Finance Minister has offered what the value-added textile industry had demanded from him in the pre-budget negotiations. "A reduction in the export refinance and introduction of zero-rating regime are wonderful steps," he said. Speaking to Business Recorder, the Chief Co-ordinator of Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Ijaz Khokhar said the introduction of zero-rating regime would be beneficial to the cottage industry of Sialkot, which was facing the problem of liquidity cash flow.
However, he termed the continuity of Drawback of Local Taxes and Levies (DLTL) as a joke, saying that the government should offer 4 percent DLTL to all export items to bring growth to the sector. Regarding the duty free import of machinery, he said, the government should offer duty free import of spare parts to make this offer more comprehensive and ensure modernisation of the value-added textile industry. He has also welcomed reduction in the refinance rate to 3 percent. On refunds, he objected the announcement of paying back the refunds to only those carrying RPOs, saying that the government had stopped issuing RPOs over the last four months. Therefore, the government should announce payment of all stuck-up refunds by 31st August to resolve the liquidity issue.
SOURCE: The Business Recorder
Turkey’s textile machinery export and investment figures currently stand at record levels, according to one of the country’s leading textile machinery associations. Exhibiting at the ongoing ITM trade show in Istanbul, the TEMSAD industry body says textile machinery export figures stood at US$429 million in 2015 – a figure which has increased by a further 20 per cent in the first four months of 2016. Tommy Lee reports from Turkey.
SOURCE: The Textile Evolution
The UK textiles industry is facing stiffer rivalry from developing economies, warns a speaker at Made in the UK 2016 who will outline how businesses can find new opportunities and retain their competitive edge. Steve Kay, the managing director of NW TexNet, spoke to Insider ahead of his appearance at the Advanced Textiles session of the conference, in which he will discuss new applications such as lightweighting for reduced carbon emissions, safety devices for the transport sector and medical textiles. He said: "The textile sector (manufacture of fibres, yarns and fabrics) is becoming increasingly ‘capital intensive’ – productivity and cost-effectiveness comes from having the best kit, rather than the ability to use a lot of (cheap) labour to do a given job.”This means that the wage differential between developed countries and developing economies is less important." The textiles of the future will be stronger, lighter and safer than now, and some will include functions such as generating electricity. The Advanced Textiles session of Made in the UK will bring fashion and function under the spotlight as industry leaders discuss the future of wearable materials, and the opportunities these could open up for suppliers.
SOURCE: The Insider Media
DyStar Group, global textile dyestuffs supplier, has introduced Cadira exhaust polyester dyeing system as part of its resource efficiency program in a bid to reduce water, waste and energy consumption during polyester fabric dyeing. Combining Dianix disperse dyes, Sera textile processing auxiliaries and the Eliot process optimization tool, Optidye PES, Cadira Polyester claims to improve right-first-time performance and reduce energy, water and chemical consumption as well as the effluent load. Cadira Polyester also reduces the processing time which improves the ptimizatio of the machinery. The benefits of a full ptimization through Cadira Polyester can be up to 58 per cent of productivity increase. The new launch is the second new dyeing system in the Dystar’s Cadira branded solution and follows on from the April launch at Interdye China of its Cadira reactive exhaust dyeing system for cellulosic fibres such as cotton and man-made cellulosic fibres.
SOURCE: Yarns&Fibers
