|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1037.84 |
USD/Ton |
0% |
8/2/2016 |
|
VSF |
2385.74 |
USD/Ton |
0% |
8/2/2016 |
|
ASF |
1896.55 |
USD/Ton |
0% |
8/2/2016 |
|
Polyester POY |
1070.95 |
USD/Ton |
0% |
8/2/2016 |
|
Nylon FDY |
2265.33 |
USD/Ton |
0% |
8/2/2016 |
|
40D Spandex |
4334.98 |
USD/Ton |
0% |
8/2/2016 |
|
Nylon DTY |
5612.89 |
USD/Ton |
0% |
8/2/2016 |
|
Viscose Long Filament |
1317.05 |
USD/Ton |
0% |
8/2/2016 |
|
Polyester DTY |
1926.66 |
USD/Ton |
0% |
8/2/2016 |
|
Nylon POY |
2069.65 |
USD/Ton |
0% |
8/2/2016 |
|
Acrylic Top 3D |
1189.11 |
USD/Ton |
0% |
8/2/2016 |
|
Polyester FDY |
2483.58 |
USD/Ton |
0% |
8/2/2016 |
|
30S Spun Rayon Yarn |
2874.93 |
USD/Ton |
0% |
8/2/2016 |
|
32S Polyester Yarn |
1806.24 |
USD/Ton |
0% |
8/2/2016 |
|
45S T/C Yarn |
2415.85 |
USD/Ton |
0% |
8/2/2016 |
|
45S Polyester Yarn |
3055.56 |
USD/Ton |
0% |
8/2/2016 |
|
T/C Yarn 65/35 32S |
2363.16 |
USD/Ton |
0% |
8/2/2016 |
|
40S Rayon Yarn |
1956.76 |
USD/Ton |
0% |
8/2/2016 |
|
T/R Yarn 65/35 32S |
2333.06 |
USD/Ton |
0% |
8/2/2016 |
|
10S Denim Fabric |
1.38 |
USD/Meter |
0% |
8/2/2016 |
|
32S Twill Fabric |
0.85 |
USD/Meter |
0% |
8/2/2016 |
|
40S Combed Poplin |
1.19 |
USD/Meter |
0% |
8/2/2016 |
|
30S Rayon Fabric |
0.70 |
USD/Meter |
0% |
8/2/2016 |
|
45S T/C Fabric |
0.68 |
USD/Meter |
0% |
8/2/2016 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15052 USD dtd 1/08/2016)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Government has taken a number of steps like promoting access to new products and finding new geographical areas to boost exports, Minister of State for Commerce Nirmala Sitharaman said. The share of India's export in global trade was 2.2% in 2015, of which the share of merchandise exports was 1.6% and commercial services 3.3%, she said in Lok Sabha during Question Hour. Promoting access to new products, finding new geographical regions through market access initiatives and market development assistance schemes, promoting product standards, packaging and branding of Indian products and providing facility for duty free import of inputs and machinery required for export production are some of the steps being taken to boost exports, she said. "While government is taking a number of initiatives to increase exports, it is not possible to predict the exact outcome in terms of capturing greater market share in global trade. The annual exports will also depend on a large number of factors related to the global economy, as they shape in the future," Sitharaman said.
SOURCE: The DNA India
There is a growing demand seen for blended fabrics such as cotton blended with viscose and polyester both in domestic as well as international markets, as their prices are economical and available of more value added products. The price for blended cotton products is much cheaper than the pure cotton. Blended cotton fabrics are preferred more in the market as pure cotton is expensive and for a selected class, said an official from textile firm. According to Rajeev Gopal, Global chief marketing officer at a one of the leading textile manufacturing firm, the demand for cotton blended with viscose and polyester is very good. Viscose and modal are great fibers to be added with cotton as it provides an element of fluidity and softness in garments. Exports of viscose staple fiber (VSF) based garment has grown by 17 percent to 230 tonne per day (TPD) in fiscal year 2016 compared to over 198 TPD in 2015. USA is the top buyer for India's VSF based garment with 23 percent share followed by UK, UAE, Spain, Germany, Netherlands and France. But according to market participants, due to increased demand for blended fabrics, viscose prices are increasing, but not in an extent to the cotton prices, making it attractive for spinners.
SOURCE: Yarns&Fibers
Hit hard by the rising prices in yarn (per kg), the readymade garment/knitwear units have requested the spinning mills not to resort to any further hike in yarn prices and look at reducing the rates due to sharp fall in cotton price in the last four days. According to industry sources, the cotton prices (per candy) have gone up from R33,000 in April to R49,000 in July, which forced the spinning mills to increase the yarn price by R30 a kg from R224 to R254. Following the intervention by the Union textiles ministry, Cotton Corporation of India (CCI) started releasing cotton in the open market to MSMEs directly and the prices were down by R2,000 a candy during the last week. Tirupur Exporters’ Association president A Sakthivel said in a statement here on Monday, “We understand that the mills have increased the hosiery yarn prices further to increasing of cotton prices and as of now, the cotton prices have come down by R2,000 per candy and in this scenario, the inclination of mills to increase the cotton yarn prices continuously will totally affect the Tirupur garment export sector.” “We wish to add that after Brexit, the pound has depreciated by about 10% and as an impact of this, our members are already suffering losses. We also wish to emphasise a point that the yarn rate has not been increased to this level in China and because of this, we are losing our competitiveness in the global market. We have an apprehension that the business created over the period of years may go out of India and the once the business is lost, it would be difficult to bring it back,” he added.
SOURCE: The Financial Express
Textile Minister Smriti Irani on Monday launched a campaign on social media to popularise handloom-made cloth and support the weaver community. The launch of the #IWearHandloom campaign on social networking sites witnessed support from several high-profile personalities who posted selfies wearing handloom fabrics. "#IWearHandloom is a campaign to show support to a community which weaves the diverse fabric of our nation's rich heritage and bring international fame to our nation. It is a tribute to women who contribute to 15 per cent of cloth production in India and 95 per cent of world handloom production, it is saying thank you for their hardwork and dedication for keeping our traditions alive," Irani said in a Facebook post. The minister posted a picture of herself wearing handwoven silk from Bihar, terming it her #IWearHandloom look. "To show your support, upload a photo wearing handloom with #IWearHandloom and tag atleast 5 friends to upload his/her photo as well," she stated.
Power Minister Piyush Goyal, Minister of State for Home Affairs Kiren Rijiju, Minister of State for Civil Aviation Jayant Sinha, Maharashtra Chief Minister Devendra Fadnavis, among others endorsed the campaign. Irani also thanked External Affairs Minister Sushma Swaraj and Women & Child Development Minister Maneka Gandhi for their support. Handloom industry is among the top employment generators in India. More than 43 lakh weavers and allied workers are engaged in it, 78% of them being women.
SOURCE: The DNA India
Textile cluster will be soon coming up in Khaira block of Balasore district, which aims at bringing economic boom for the weavers who are mostly dependent on trade of handloom and handicraft products for their living. With the establishment of the cluster, it would help strengthen the working capital base of the primary weavers’ cooperative societies to develop modernized looms, accessories, training to weavers, marketing support and design innovations. Minister of State for Textiles Ajay Tamta replying to a question raised by MP Rabindra Kumar Jena in the Lok Sabha, said that a proposal for setting up a block-level cluster at Khaira in Balasore district has been approved under National Handloom Development Programme (NHDP). The Minister further said that Rupees 48.52 lakh has been released out of Central share of Rs.147.04 lakh to cover 144 beneficiaries. Earlier, Jena had submitted a proposal to the Ministry incorporating the demands of the weavers in the region who have been finding it hard to market and promote their products.
In a bid to provide assistance for modernization of textile industry, the Government has taken a large number of steps through its various policy initiatives and schemes. Special packages for employment generation and promotion of exports in textile and apparel sectors also have been launched recently. As of now, the country has three power-loom clusters at Erode in Tamil Nadu, Bhilwara in Rajasthan and Ichalkaranji in Maharashtra while 11 more power-loom, handloom and silk clusters are coming up in 10 States. In Odisha, cluster approach is being adopted where viable societies, NGOs and small and medium entrepreneurs will be actively associated for development of the sector.
SOURCE: Yarns&Fibers
The 10th edition of India International Textile Machinery Exhibition (India ITME 2016), to be held in Mumbai in December, will focus on clean and green technology. According to Seema Srivastava, Executive Director of India ITME Society, the six-day exhibition at Bombay Convention and Exhibition Centre, Mumbai, from December 3 will have 950 participants from 93 countries. With the textile industry, especially units in south India, incurring heavy cost towards pollution control, there is a special pavilion for waste water recycling and technology. Unlike previous editions of the exhibitions, where spinning was the main attraction, this year, participants are occupying two halls to display machinery related to the weaving sector. Machinery will be displayed under 17 different segments related to the textile industry. New products will be launched in spinning, processing, and weaving segments. There will be an exclusive hall for digital printing, testing and measuring equipment. Carpet machinery from Belgium and Turkey, fibre and yarn from China, Taiwan, Germany and Indonesia, and participation of Turkey in the spinning, weaving, and chemical and dyes segments are some of the special attractions at the expo.
Seminars, workshops, and panel discussions will be held from December 3 to 7. Weavers from Maharashtra will demonstrate weaving and the events as part of the exhibition will include fashion show, display of textile sculptures and ethnic fabric, and photography exhibition. The exhibition is held once in four years and since the last edition, several overseas companies have opened offices in India. With Central Government’s thrust on Make in India, this business-to-business exhibition will lead to investments and opportunities, she said.
SOURCE: The Hindu
A performance and credit rating scheme has been launched by the MSME Ministry to assess the capabilities and creditworthiness of the industries in the sector, Lok Sabha was informed today. "The Ministry of MSME through National Small Industry Corporation Limited is implementing 'Performance and Credit Rating Scheme' for MSMEs to provide a trusted third party opinion on their capabilities and creditworthiness so as to create awareness about the strengths and weaknesses of their existing operations," Minister for Micro, Small and Medium Enterprises Kalraj Mishra said during Question Hour. Mishra said recently, a new scheme of Financial Support to MSMEs in Zero Defect Zero Effect Certification has been approved in which the MSMEs will be assessed on ZED Maturity Model on 50 parameters which will strengthen or facilitate the Make in India initiative. The Minister said in order to ensure quality production, the government encouraged MSMEs by organising awareness programmes, providing financial assistance for product certification as per national and international standards. "Under the 'Financial Support to MSMEs in ZED certification scheme', the MSMEs will be assessed on a Zero Defect Zero Effect maturity model which shall rate MSMEs in five levels," he said.
SOURCE: The Business Standard
It is not just Iran's Chabahar port and connectivity to Eurasia that has caught attention of the Modi government. India plans to set up a SEZ in Sittwe in Myanmar where it has already built a port. The proposed SEZ by India will rival Chinese SEZ located 80 km down of strategically-located Sittwe as Delhi plans to make it as an economic hub. The aim of the SEZ is to help expand India's footprints in South East Asia amid China plans for massive road and port connectivity projects in the region as part of its One Belt One Road initiative. India's plan for SEZ was explained by MoS external affairs VK Singh at the India-Asean Foreign Ministers meet at Laos earlier this week. "India remains committed in its support for implementation of the master plan on Asean connectivity as well as and the post-2015 agenda for Asean connectivity. Even as we work to enhance our physical connectivity and explore the extension of the India-Myanmar-Thailand Trilateral Highway into Lao PDR, Cambodia and Vietnam, I urge Thailand and Myanmar to join hands and find solutions for the conclusion of the motor vehicles agreement and I would like to invite Asean countries to participate in the Sittwe SEZ," he said.
SOURCE: The Economic Times
Infrastructure sector grew at 5.2 per cent in June, fastest in two months, on the back of double-digit growth in coal and cement sectors. The eight infrastructure sectors -- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity -- had expanded by 3.1 per cent in June 2015. The eight core sectors comprise nearly 38 per cent of the total industrial production. The cumulative growth during the first quarter of the current fiscal was 5.4 per cent. These eight core sector industries had expanded by 3.1 per cent in June 2015. The core sector had expanded by 2.8 per cent in May, slowest in 2016. As per the data released by the government, coal production increased by 12 per cent in June year-on-year.
Similarly, cement production saw a double digit expansion in June (10.3 per cent) over the same in 2015. Fertilizer production increased 9.8 per cent in June (though slower than the previous month) while petroleum refinery production expansed of 3.5 per cent. The growth in electricity generation was 8.1 per cent on annual basis. Steel production, with a weight 6.68 per cent in the index, also increased by 2.4 per cent. Natural gas output dipped 4.5 per cent and crude oil production fell by 4.3 per cent in June.
SOURCE: The First Post
The rupee on Monday closed at a seven-week high against the dollar, marking the fifth consecutive session in which it gained, as foreign institutional investors continued to sell dollars and buy into Indian equities and debt. The rupee closed at 66.74 against the dollar, having risen by 0.38% against the previous close of 66.99, after touching an intraday high of 66.70. The last time the local currency was at this level was on June 10, when the rupee opened at 66.81 and closed at 66.76, after falling to an intraday low of 66.73. The benchmark Sensex and Nifty indices closed flat in Monday’s trade to close at 28,003.12 and 8,636.55 respectively, and the yield on the 7.59% 2026 government bond, which is India’s 10-year benchmark bond, fell by nearly three basis points to 7.14%. In July, FIIs net bought local equities worth $1.69 billion and debt worth $1.04 billion. Dealers maintained that the prevalent positive sentiment is on account of hopes that the goods and services tax Bill will be passed soon in Parliament. The Bill will be tabled in the Rajya Sabha on Wednesday, the government said on Monday. The ruling Bharatiya Janata Party has issued a directive to all its Rajya Sabha members, asking them to be present in the House for the next three days. The weakness in the dollar post the US Federal Open Market Committee meet last week continued to support the local currency, dealers said. The US Federal Reserve on Wednesday left the benchmark policy rate unchanged at 0.2%.
SOURCE: The Financial Express
Indicating an upswing in factory activity, the Nikkei India Manufacturing Purchasing Managers’ Index (PMI) posted a four-month high of 51.8 in July. It was marginally lower at 51.7 in June. “The performance of India’s manufacturing economy continued to improve in July, with a stronger expansion in new business contributing to faster increases in output and buying levels,” Nikkei said in a release on Monday. A reading above 50 on the index denotes expansion while a reading less than 50 reflects contraction. “…businesses refrained from creating jobs. The ongoing muted trend for employment indicates that companies remain somewhat uncertain regarding the sustainability of the upturn,” said Pollyanna de Lima, Economist at Markit and author of the report, adding that demand for plant and machinery improved but investment goods output dropped. The data come just ahead of the monetary policy review of the Reserve Bank of India on August 9 and industry is hoping for a further reduction in key rates.
Hopes of rate cut
“With inflation rates remaining lower than their respective long-run averages, it wouldn’t be surprising to see the RBI loosening monetary policy at its August meeting in an effort to encourage investment,” de Lima said. In its policy review meet in June, RBI Governor Raghuram Rajan had left interest rates untouched. Meanwhile, according to the survey, strong growth in new business orders, which boosted production, contributed largely to the uptick in manufacturing PMI. The overall increase in output was led by consumer goods producers, followed by some growth in the intermediate goods category.
Significantly, new export orders climbed to a six-month high, with increases in the sectors of both consumer and capital goods. Input costs also rose at the slowest pace in five months. “Although charge inflation accelerated, the rate of increase was only slight and remained below its long-run average,” said the release. However, hiring trends remained relatively muted and only one per cent of the surveyed companies took on additional workers in July.
SOURCE: The Hindu Business Line
India's trade deficit with China has swelled to $52.68 billion in 2015-16, from $48.48 billion in the previous fiscal. "Increasing trade deficit with China can be attributed to the relative demand for imports in India and China for each other's goods," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha. She said efforts are on to increase overall exports by diversifying the trade basket, with emphasis on manufactured goods, services, resolution of market access issues and other non-tariff barriers. The major imports from China include telecom instruments, computer hardware and peripherals, fertiliser, electronic component, project goods, chemicals and drug intermediaries. Exports to China are ore, slag or ash, iron and steel, tin, raw hides, leather, plastics and cotton. The bilateral trade between the countries stood at $70.73 billion in 2015-16, down from $72.34 billion in the previous fiscal.
Replying to a separate query on tea gardens, she said the Tea Board has received 15 bid applications in response to various expressions of interest in relation to management of seven gardens. In January, the central government has authorised the board to take steps to take over management or control of seven gardens, including Birpara Tea Estate, Garganda Tea Estate and Lankapara Tea Estate.
SOURCE: The Economic Times
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 39.90 per barrel (bbl) on 29.07.2016. This was lower than the price of US$ 40.81 per bbl on previous publishing day of 28.07.2016.
In rupee terms, the price of Indian Basket decreased to Rs. 2674.73 per bbl on 29.07.2016 as compared to Rs. 2736.78 per bbl on 28.07.2016. Rupee closed stronger at Rs. 67.03 per US$ on 29.07.2016 as against Rs. 67.06 per US$ on 28.07.2016. The table below gives details in this regard:
|
Particulars |
Unit |
Price on July 29, 2016 (Previous trading day i.e. 28.07.2016) |
Pricing Fortnight for 01.08.2016 (July 14, 2016 to July 27, 2016) |
|
Crude Oil (Indian Basket) |
($/bbl) |
39.90 (40.81) |
43.20 |
|
(Rs/bbl |
2674.73 (2736.78) |
2901.31 |
|
|
Exchange Rate |
(Rs/$) |
67.03 (67.06) |
67.16 |
SOURCE: PIB
Vietnam textile and apparel sector posted export revenue of only US$12.76 billion in the first six months, growing 4.72% year-on-year representing just 41% of the full-year target. Again, the growth was mainly driven by foreign direct investment (FDI) firms as the domestic peers struggled to find new orders in the period, said Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association (VITAS), at a press conference in Hanoi last week. According to VITAS, finding new orders would continue to be tough and that some small and medium enterprises could be forced out of business. If the situation does not improve, the industry would find it hard to obtain outbound sales of US$29 billion this year.
Speaking at the press conference, VITAS vice chairman Nguyen Xuan Duong pointed out three main negative factors for the local textile and garment industry. First, Vietnam’s foreign exchange policy has kept the Vietnamese dong currency stable compared with the U.S. dollar while the currencies of major markets such as the EU, Japan and China have fallen by 8-18% against the greenback. At the same time, ASEAN countries, India, and Bangladesh have seen their currencies down by 10-20%. The annual region-based minimum wage raise has also sent production costs of local textile and garment firms up and undermined the competitiveness of Vietnamese garments. Besides, lending rates of 8-10%, two to three times higher than in other countries that are Vietnam’s apparel export rivals, have placed another financial burden on local companies. As a result, prices of Vietnamese textiles and garments are 20-30% higher than in other countries. Moreover presently, global economic woes are presenting an extra headwind to the industry. Particularly, many UK textile and garment enterprises operating in Vietnam have plans to shut down following the Brexit vote to leave the European Union last month. There are also signs of buyers shifting their orders from Vietnam to other countries to benefit from lower costs. Mainly because Cambodia and Bangladesh enjoy tariff incentives offered by the U.S and Europe while wages in Myanmar, Bangladesh, and Sri Lanka are lower than in Vietnam. Vietnamese enterprises are not as competitive as exporters from other parts of Asia. Recently, China has also lowered social insurance premiums from 20% to 18% in the context that many of its textile and garment companies have been shuttered.
SOURCE: Yarns&Fibers
Industries Minister Amir Hossain Amu addressing an inaugural ceremony of the three-day apparel exposition arranged by the country`s fashion designer in the capital’s National Museum auditorium on Sunday said that Bangladesh will soon secure the top position in the world in Ready Made Garments (RMG) sector. The RMG sector is a very important sector in the economy of Bangladesh and now stands second position in exporting RMG. In the programme, he underscored the need for making skilled manpower to sustain the development of Ready Made Garments sector of the country. On creating skilled manpower in various sectors like fashion designing, textile, quality control, production and competency, it will help reduce dependence on foreign manpower. Amu said that the initiatives of creating skilled and trained manpower should be accelerated as the government has set a target under the direction of Prime Minister Sheikh Hasina to earn US$50 billion from RMG sector by the year 2021.
SOURCE: Yarns&Fibers
U.K. manufacturing shrank more than initially forecast in July, suffering its biggest drop in more than three years. A Purchasing Managers’ Index slumped to 48.2, below the one-off flash reading of 49.1, Markit Economics said Monday in London. The index has only fallen below the 50 mark -- which separates expansion from contraction -- one other time since early 2013. The index was at 52.4 in June. The report suggests that Britain’s decision to leave the European Union may have a harsher impact on the economy than initially expected. Markit’s flash estimates published last month had already signaled that business activity was shrinking at its fastest pace since the last recession seven years ago. That prompted Bank of England official Martin Weale to change tack and back his colleagues’ call for stimulus this week. BOE policy makers kept the benchmark rate at a record-low 0.5 percent in July and signaled that loosening was likely in August. The nine-member Monetary Policy Committee announces its next decision on Thursday, when it will also publish new forecasts for growth and inflation. “The weak numbers provide powerful arguments for swift policy action,” said Rob Dobson, an economist at Markit. “The downturn was felt across industry, with output scaled back across firms of all sizes and across the consumer, intermediate and investment goods sectors.” The pound fell 0.4 percent to $1.3182 as of 12:34 p.m. London time. The decline in production was the steepest since October 2012, Markit said. New orders also contracted, suggesting uncertainty in the domestic market offset any boost to exports from the weaker pound. While manufacturing exports were the only bright spot in the initial report, Markit said that the improvement was “less marked than previously estimated” due to sluggish overseas demand. The drop in the currency pushed input-cost inflation to a five-year high. Employment fell for a seventh month in July, with firms linking lower staffing to the drop in output and new orders.
SOURCE: The Bloomberg
