INTERNATIONAL
Textile Raw Material Price 2016-08-31
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1012.04 |
USD/Ton |
0% |
8/31/2016 |
|
VSF |
2462.73 |
USD/Ton |
0% |
8/31/2016 |
|
ASF |
1886.35 |
USD/Ton |
0% |
8/31/2016 |
|
Polyester POY |
1041.23 |
USD/Ton |
0% |
8/31/2016 |
|
Nylon FDY |
2365.42 |
USD/Ton |
0% |
8/31/2016 |
|
40D Spandex |
4371.53 |
USD/Ton |
0% |
8/31/2016 |
|
Nylon DTY |
5596.16 |
USD/Ton |
0% |
8/31/2016 |
|
Viscose Long Filament |
1286.01 |
USD/Ton |
0% |
8/31/2016 |
|
Polyester DTY |
2021.09 |
USD/Ton |
0% |
8/31/2016 |
|
Nylon POY |
2058.51 |
USD/Ton |
0% |
8/31/2016 |
|
Acrylic Top 3D |
1167.74 |
USD/Ton |
1.30% |
8/31/2016 |
|
Polyester FDY |
2560.04 |
USD/Ton |
0% |
8/31/2016 |
|
30S Spun Rayon Yarn |
3039.11 |
USD/Ton |
0% |
8/31/2016 |
|
32S Polyester Yarn |
1721.67 |
USD/Ton |
0% |
8/31/2016 |
|
45S T/C Yarn |
2402.85 |
USD/Ton |
0% |
8/31/2016 |
|
45S Polyester Yarn |
2260.62 |
USD/Ton |
0% |
8/31/2016 |
|
T/C Yarn 65/35 32S |
3188.82 |
USD/Ton |
0% |
8/31/2016 |
|
40S Rayon Yarn |
2380.39 |
USD/Ton |
0% |
8/31/2016 |
|
T/R Yarn 65/35 32S |
1886.35 |
USD/Ton |
0% |
8/31/2016 |
|
10S Denim Fabric |
1.37 |
USD/Meter |
-0.11% |
8/31/2016 |
|
32S Twill Fabric |
0.84 |
USD/Meter |
-0.18% |
8/31/2016 |
|
40S Combed Poplin |
1.18 |
USD/Meter |
-0.13% |
8/31/2016 |
|
30S Rayon Fabric |
0.70 |
USD/Meter |
0% |
8/31/2016 |
|
45S T/C Fabric |
0.67 |
USD/Meter |
0% |
8/31/2016 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14971 USD dtd. 31/08/2016)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
A Surat-based start-up is helping textile manufacturers understand the finer nuances of exporting – from developing a line to taking it to the right market, and also dealing with the huge paperwork that an export business demands. The start-up is the brainchild of business partners at NS International, Saija Bhatt Thakker and Shivang N Desai. The duo of Saija Bhatt Thakker and Shivang N Desai has initiated a start up to help Indian textile manufacturers understand the finer nuances of exporting. NS International will handhold aspiring exporters and increase their awareness on various factors like international payment and delivery systems, thereby increasing their confidence in exporting. Sharing their plans with Fibre2Fashion, they said, “First, a majority of the people are very poor at data analysis. They are not aware of international payment and delivery systems; they fear that they will not receive payments for their shipments, and we want to bring clarity on this. Again, there is a certain lack of professionalism in small businesses in India.” “When we travel abroad, one complaint that we receive is that we Indians are very convincing at the sampling stage, but when it comes to deliverables, both quality and quantity are not as promised. Another issue is the inability to balance the business in terms of domestic production and export, because to do this they need finance, infrastructure, good communication skills, and a travel plan. We plan to change all these through our consultancy services,” the duo added.
NS International is now operating in the food sector, but is planning a foray very soon in to the textiles sector and is currently researching the sector. The start-up is in talks with the Southern Gujarat Chamber of Commerce & Industry (SGCCI) to help create awareness and help non-exporters in textiles to turn into exporters. This is not just limited to helping them fetch orders, but provide a corporate service where the company can give them good revenues 3-5 years down the line.
SOURCE: Fibre2fashion
Online Portal for Handloom Stall Allotment was launched by Rashmi Verma, Secretary, Ministry of Textiles in the national capital on Tuesday. This portal is envisioned as weaver friendly platform, which shall streamline allotment of handloom, stalls. It would save them from the effort of booking the stalls for exhibitions in person. They can now do it all online from across the country. Weavers/Organizations will be able to apply on online portal as and when online applications are called by way of advertisements in leading newspapers. Weavers/Organizations will register themselves for Applying for Allotment for the first time. Thereafter their database will keep updating. System will allot them a login and pass-word for the purpose of submitting application. After getting registered, they can apply online. Online applications will automatically get forwarded to the Weavers Service Centre (WSC) under whose jurisdiction applicant falls. WSCs will have to scrutinize the applications of eligible applicants online within stipulated time and also have to state the reasons for not recommending a particular application. The recommended Applications will be compiled centrally by system and will be ready for computerized draw. State wise and slot wise computerized list of selected candidates including waitlist will be prepared. The applicant will be able to take printout of allotment letter from portal after login into it. With the printed copy of allotment letter they can approach to the organizers for handing over them the stalls. System will also send alert SMS and email to the allottee mentioning allotment of stall along with stall number.
SOURCE: Yarns&Fibers
India, the world’s largest producer of cotton this year due to winged pests and droughts is on track to double its cotton imports. India is looking overseas for cotton as its own production is expected to fall by 12% to 33.8 million bales in the year ending Sept. 30, according to India’s Cotton Advisory Board, a body of government officials, growers, traders and exporters. An Indian bale is about 374 pounds, smaller than the U.S. bale at roughly 500 pounds. B. K. Mishra, chairman of the Cotton Corporation of India, government body responsible for buying cotton from farmers and sells it both domestically and abroad, in an interview Wednesday said that cotton purchases from abroad will not go beyond 2 million bales. India has imported around 1.5 million bales of cotton so far this year and has already signed contracts for an additional 400,000 bales, traders and a government official said. India’s increased cotton imports will help absorb some of the oversupply, said Georgia Twomey, a commodities analyst at Rabobank based in Sydney.
The falling expectations of Indian production and late arrival of the monsoon [rainy period] certainly led to some strong Indian activity in the global market, Ms. Twomey said. But there is an oversupply of cotton in the world market that needs to be absorbed. The fall in domestic production this year was largely the result of back-to-back years of drought and an outbreak of damaging pests. While India has received a strong amount of rain overall in its monsoon period this year, early rain didn’t come at the time needed by cotton farmers. The reason for the reduction in area during the current year is concerns of whitefly infestation in the north and pink bollworm in central and southern India, said an official at India’s Agriculture Ministry. As a result, the Cotton Advisory Board said that India’s harvest this year may be its smallest since 2011. While cotton prices globally have fallen, in India, cotton prices have risen by about 50% since the start of the cotton season on Oct. 1 last year to $320 a bale. Mills in southern India have found it cheaper to import cotton than buy it from local markets even though India has large stockpiles of the commodity. The sea-transport cost from Africa to the southern ports is lower than surface-transport cost from the central and western Indian states, making it alluring for domestic mills to import cotton, said D. K. Nair, former secretary-general of the Confederation of Indian Textile Industry. The increased exports and production fall are good news for the global cotton market, as prices had been largely rangebound for the past couple of years due to large stockpiles of cotton in the world’s largest consumer China. In recent months, China has started selling its cotton stockpile, further reducing demand for the world market and keeping pressure on prices. The China National Cotton Information Center lowered slightly its imports forecast for 2016-17 to 1.05 million metric tons, as the extended reserve auction period pushes back the need for China to return to the world market to source more of its cotton requirements, the Commonwealth Bank of Australia said in a research note. This is bearish for U.S. prices in the short-term, it said.
SOURCE: Yarns&Fibers
The World Bank in its recently released Logistics Performance Index has now ranked India at the 35th position from amongst 160 countries, as against the LPI rank of 54 in 2014, a jump of 19 places. The LPI is an interactive benchmarking tool created to help countries identify the challenges and opportunities they face in trade logistics. Among the six-components of the LPI report ranking's; customs was ranked 38; infrastructure at 36; international shipments at 39; logistics quality and competence at 32; tracking and tracing at 33; and timeliness at 42. The LPI is based on a worldwide survey of stakeholders on the ground providing feedback on the logistics friendliness of the countries in which they operate and those with which they trade. Feedback from such stakeholders is supplemented with quantitative data on the performance of key components of the logistics chain in the country of work. “Improvement in India's rank in Logistics Performance Index adequately establishes steady performance in our competitiveness in manufacturing and trade that also acts as one of the growth driver of the 'Make in India' programme,” a PIB press release said.
SOURCE: Fibre2fashion
With Odisha today becoming the 16th sate to ratify the Constitution Amendment Bill for Goods and Services Tax (GST), the ball is set for the presidential assent. Ratification of at least half of the total states was mandatory before the President can notify the GST Council, which will decide on GST rates. The Bill has already been passed by the Parliament. The resolution for ratification of the bill was moved by chief minister Naveen Patnaik at a special one-day session of the assembly. The bill was unanimously approved. “The overall tax burden on most commodities is expected to come down. The government will get the benefit of higher revenue efficiency. The business and industry will find it easier to comply with,” Patnaik said in the legislative assembly while speaking on the bill. “We will separately request the government of India to consider state's concern for imposition of Green Tax on polluting goods in addition to GST,” Patnaik said. “We will also request the Centre to take appropriate action for CST compensation to the states up to 2016-17 for reduction of CST from 4 per cent to 2 per cent,” he added. The bill aims at replacing all central indirect levies like excise duty, countervailing duty and service tax, as also state taxes such as value added tax, entry tax and luxury tax, by a single tax pan-India. Termed as the biggest tax reform in independent India, the implementation of the GST is expected to increase the country's GDP growth by 1.5 to 2 per cent. The implementation of the GST, however, could pose a challenge as transactions of producers and end consumers have to be linked. Moreover, taxes have to be matched on the IT systems of Centre, states and companies.
SOURCE: Fibre2fashion
India’s manufacturing activity grew at the fastest clip in 13 months in August, backed by a surge in new orders and output, according to the widely-tracked Nikkei purchasing managers’ index (PMI) survey. Even then, only marginal additional employment was generated by manufacturers. PMI rose to 52.6 in August, from July’s 51.8, which was an eighth straight month of expansion, indicating positive momentum in the production sector. The 50-point mark separates expansion from contraction. In official data as well, it was primarily manufacturing activity, which among a few other segments, such as electricity and government expenditure, were outliers in an otherwise dismal gross domestic product growth of 7.1 per cent in the first quarter of 2016-17, a five-quarter low. Manufacturing expanded 9.1 per cent. IHS Markit, which compiles data for PMI, expects India’s economy to grow 7.5 per cent in the current financial year, slightly lower than 7.6 per cent recorded in the previous year and substantially less than the government’s expectations of close to eight per cent.
Manufacturing PMI grows at fastest clip in 13 months Prices softened, strengthening the case for a rate cut by the Reserve Bank of India (RBI) in the next policy meet on October 4 under newly-appointed Governor Urjit Patel. “Manufacturing PMI data show that the positive momentum seen at the beginning of the second semester has been carried over into August, with expansion rates for new work, buying levels and production accelerating further,” said Pollyanna De Lima, economist at IHS Markit.
According to the PMI report, based on survey of 500 private sector companies, new export orders expanded at the quickest rate in one year. August saw a sharp upturn in new business inflows, which expanded at the quickest pace since December 2014. Consumer goods producers led the increase and strong growth was also seen in the intermediate and capital goods categories. However, capital goods production contracted for eight months on the trot in the official Index of Industrial Production. Also, gross fixed capital formation contracted three per cent in the first quarter of FY17, a second quarterly straight fall. Subsequently, companies continued to raise output in August, with growth picking up to the strongest in one year. Price pressure eased, with raw material costs increasing at their weakest rate in six months and output prices barely rising, suggesting consumer inflation could cool in the coming months. “In light of these numbers, the RBI has scope to loosen monetary policy in the upcoming meeting to further support economic growth in India,” De Lima said. The repo rate stands at 6.5 per cent. Retail inflation in India was 6.07 per cent in July, above the new target of keeping inflation in the range of two to six per cent. Greater output requirements led some manufacturers to hire additional workers in August, but the overall rate of job creation remained marginal, as the vast majority of firms left workforce numbers unchanged.
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$ 45.23 per barrel (bbl) on 31.08.2016. This was lower than the price of US$ 46.63 per bbl on previous publishing day of 30.08.2016.
In rupee terms, the price of Indian Basket decreased to Rs. 3029.76 per bbl on 31.08.2016 as compared to Rs. 3128.23 per bbl on 30.08.2016. Rupee closed stronger at Rs. 66.98 per US$ on 31.08.2016 as against Rs. 67.09 per US$ on 30.08.2016. The table below gives details in this regard:
|
Particulars |
Unit |
Price on August 31, 2016 (Previous trading day i.e. 30.08.2016) |
Pricing Fortnight for 01.09.2016 (Aug 11, 2016 to Aug 29, 2016) |
|
Crude Oil (Indian Basket) |
($/bbl) |
45.23 (46.63) |
46.20 |
|
(Rs/bbl |
3029.76 (3128.23) |
3095.40 |
|
|
Exchange Rate |
(Rs/$) |
66.98 (67.09) |
67.00 |
SOURCE: PIB
Mozambique Cotton Manufacturers (MCM), a consortium of one Mozambican and three Portuguese companies, plans to invest about US$35 million to expand the business, according to a statement issued in Maputo. MCM, consisting of Mozambican companies Intelec Holdings and Portuguese companies Mundotêxtil, Mundifios and Crispim Abreu, has invested nearly US$20 million for the installation and operation of the units, and the amount now announced will serve mainly to add weaving, dyeing, sewing and other support equipment. The Director-General of MCM, André Vieira, said the company is currently exporting 100% of production to Portugal and South Africa and is considering expansion to countries of the Southern African Development Community (SADC), according to Mozambican news agency AIM. Vieira also mentioned the US market, a country with which Mozambique has an agreement to facilitate exports. The cotton used by MCM is provided by Plexus, a company present in the province of Cabo Delgado that aggregates the production of small farmers, Olam in Manica and Sofala, small operators in the centre of the country and across the country the João Ferreira dos Santos Group
SOURCE: The Macau Hub
American researchers have created a low-cost textile made of a plastic base that could cool the body when woven into clothing. American scientists have developed a material which could cool the body and keep people in hot climates cool without using air conditioning. The engineers suggested in the US journal Science that the textile could become a way to keep people living in hot climates cool without using air conditioning. "If you can cool the person rather than the building where they work or live, that will save energy," said Yi Cui, an associate professor of materials science and engineering and of photon science at Stanford. Scientists blended nanotechnology, photonics and chemistry to develop the material, which cools the wearer in two ways. Like cotton, the textile allows sweat to evaporate through the material, but the new development allows it to also let through heat the body gives off as infrared radiation. The latter is a characteristic of polyethylene, the clear, clingy plastic already used as kitchen wrap. All objects -- including our bodies -- discharge heat as infrared radiation in the form of invisible light wavelengths. Clothing traps those wavelengths close to the body, but the new plastic textile lets them through. "Forty to 60 percent of our body heat is dissipated as infrared radiation when we are sitting in an office," said Shanhui Fan, a professor of electrical engineering. "But until now there has been little or no research on designing the thermal radiation characteristics of textiles."
To test the cooling capabilities of the experimental material, researchers put swatches of the plastic material and cotton fabric on bare skin and compared skin surface temperature. "Wearing anything traps some heat and makes the skin warmer," Fan said. "If dissipating thermal radiation were our only concern, then it would be best to wear nothing." The cotton fabric made the skin 3.6 degrees Fahrenheit (2 degrees Celsius) warmer than the new material, suggesting that wearing the "cooling textile" might make people less likely to resort to turning on fans or air conditioners. The scientists said they will continue working to add more colors, textures and cloth-like traits to their product. "If you want to make a textile, you have to be able to make huge volumes inexpensively," Cui said.
SOURCE: The Bangkok Post
In order to discuss futuristic economic policies so as to fully exploit the one billion dollar trade potential of the two countries Pakistan and Kenya, the Kenyan high commissioner in Pakistan to arrange for a Joint Ministerial Commission of Pakistan and Kenya which will be held in Islamabad in December this year. He said that Free Trade Agreement (FTA) is the best tool to resolve the duty related issues and hence both the counties should start negotiations leading to FTA. Commenting on the issue of duties on textile export, he said that FCCI should make recommendations to Joint Ministerial Commission (JMC) to resolve the issue. Kenya is also organizing a trade and investment conference to highlight the investment opportunities in Kenya. The FCCI members are invited to attend the conference and assured them that maximum support will also lend to FCCI to ink MOU with National Chamber of Commerce and Industry Kenya. He also appreciated the proposal of organizing single country exhibition and exchange of trade delegations, and said that it will help the business community of two countries to understand each other and discuss the opportunity to launch joint venture, particularly, in the field of textile and value added sector. As maximum business in Kenya is in the hands of Kenyan Asians, investment in Kenya is safe as there is no load shedding while the government is heavily investing in new power projects for the speedy industrialization of the country.
Furthermore as Kenya is strategically located and Pakistani businessmen could also have direct access to Uganda, Tanzania, Ruanda and Burundi. The private sector and business community of the two countries, Pakistan and Kenya has to play its pivotal role in enhancing the bilateral trade and in this connection the Kenyan High Commission was ready to extend full support to the potential investors, said Professor Julius Kibet Bitok addressing the members of Faisalabad Chamber of Commerce and Industry (FCCI).
SOURCE: Yarns&Fibers
International Monetary Fund Managing Director Christine Lagarde said the institution will likely downgrade its 2016 global growth forecast again as economic prospects are dimmed by weak demand, flagging trade and investment and growing inequality. Lagarde told Reuters in an interview that G20 leaders need to do far more to spur demand, bolster the case for trade and globalization, and fight inequality. And while some major threats to the global economy have yet to materialize, such as recession sparked by Britain’s vote to leave the European Union or a collapse in Chinese growth, she described the overall outlook as “slightly declining growth, fragile, weak and certainly not fueled by trade.” “You could argue that Brexit is not really delivering the massive crisis that we had expected, you could argue that the Chinese transition is proceeding reasonably well, and you could argue that low commodity prices have gone up a little bit,” Lagarde said. “So this is on the surface.” “However, when you look deep down at the economic growth prospects, at the growth potential, at the productivity, we are not getting very good signals, and we will probably be revising down our forecast for growth in 2016.” The IMF is due to revise its World Economic Outlook forecasts in early October ahead of its annual meetings. Another cut would be the sixth straight growth markdown in about 18 months.
Citing global uncertainty over the June 23 Brexit vote, the IMF in July cut global GDP growth estimates to 3.1 percent for 2016 and 3.4 percent for 2017 – down about a tenth of a point for each year. The full economic impact of the Brexit crisis will probably not be fully known until 2017, when more will become apparent about the shape of the future UK-EU relationship, Lagarde said. But she noted that Britons’ wealth has already been eroded by a 15 percent decline in the pound’s value, and that UK consumer and business confidence data was weak. Lagarde said she will tell G20 leaders on Sunday and Monday in Hangzhou, China that further reductions in growth potential and more obstacles to the free movement of goods, services, capital and people would hurt all of them. She said people harmed by trade and innovation need to be helped by policies to allow them to retrain and acquire new skills and job mobility. “This is something that all countries and all governments should be concerned and mobilized about,” Lagarde said. The IMF said in a briefing note to G20 leaders that falling trade volumes have contributed to lower GDP growth and urged them to make a stronger case for the benefits of trade.
EGYPT LOAN DEAL
Lagarde said she would be spending the next several days speaking with senior officials in a number of countries to persuade them to contribute to about $5 billion to $6 billion in bilateral financing to support Egypt. The funds are needed to allow a $12 billion IMF loan program to be approved by the Fund’s board. “The fact that Egypt has now reached an agreement with the IMF is an indication that they are taking their economic restructuring, their economic objectives seriously, and that should encourage either friendly neighboring countries or other bilateral partners to actually participate in the funding,” she said. While this is likely to include Middle Eastern and Gulf states that have historically supported Egypt, it also may include other countries that “are willing to chip in” to help Egypt reach its considerable economic potential.
GREECE, FRENCH COURT CASE
Lagarde also said she was encouraged by Greece’s recent privatization efforts and was hopeful that reform legislation would soon be passed and implemented. But the IMF is still not ready to participate in the latest version of Greece’s bailout. “We are not party to the program because I have said repeatedly that the program has to walk on two legs. One, there has to be significant reforms and second there has to be a debt that is sustainable by our standards and our measurements and this at this point in time is not the case,” Lagarde added. Lagarde also said that her upcoming trial in France over a 400 million euro ($448 million) state payout to businessman Bernard Tapie would not be a distraction to her management of the IMF. France’s highest appeals court ruled in July that Lagarde should stand trial for negligence in the use of public funds for her role in seeking an out-of-court arbitration settlement for Tapie in 2008, when she was France’s finance minister. The IMF board has expressed confidence in her ability to effectively lead the institution, and Lagarde’s lawyers have insisted that she acted in the best interests of the French state and in full compliance with the law. “I draw a lot of strength and determination from the very strong support from the board,” Lagarde said. “And I rely on good and solid lawyers who have to do their jobs, so it’s not a distraction for me. I focus my energy and time on the mission of the IMF and what I have to do to serve that mission.”
SOURCE: The Financial Express
The U.S. economy grew at an annual rate of 1.1 percent in the second quarter this year, down from a previous estimate of 1.2 percent, the Commerce Department said Friday. The moderate growth in the second quarter followed a sluggish pace of 0.8 percent in the first quarter, underscoring the weak performance of the world's largest economy in the first half of 2016. "The acceleration in real GDP (gross domestic product) in the second quarter primarily reflected an acceleration in PCE (personal consumption expenditure), a smaller decrease in nonresidential fixed investment, an upturn in exports, and a smaller decrease in federal government spending," the Commerce Department said. Consumer spending remained the U.S. economy's driving force, expanding at an annual rate of 4.4 percent in the second quarter, up from an earlier estimate of 4.2 percent. That was the fastest growth rate since late 2014 and contributed 2.94 percentage points to GDP growth in the second quarter. However, overall fixed investment, weighted down by contractions in equipment, structures and residential investment, went down 2.5 percent in the second quarter and subtracted 0.42 percentage point from the GDP growth.
Inventories fell by a revised 12.4 billion U.S. dollars in the second quarter, the first decline since 2011. That subtracted 1.26 percentage points from GDP growth in the quarter, the largest drag in more than two years. Overall spending by federal, state and local governments fell by 1.5 percent in the second quarter, compared with a previous estimate of a 0.9 percent decline. The PCE price index, a Federal Reserve preferred inflation indicator, increased 2 percent in the second quarter, compared to 0.3 percent growth in the first quarter. Excluding volatile food and energy prices, the core PCE price index increased 1.8 percent, while the index grew 2.1 percent in the first quarter. While Federal Reserve officials generally agreed that near-term risks to the U.S. economic outlook had diminished, the central bank kept the federal funds rate unchanged last month. Some Fed officials preferred to wait for more evidence that U.S. inflation would rise to the central bank's objective of 2 percent on a sustained basis, while other officials anticipated that economic conditions would soon warrant another rate increase, according to the minutes of the Fed's July 26-27 meeting released this month. Analysts said it's possible for the Fed to hike interest rates as soon as September. But about 71 percent of 62 economists surveyed by the Wall Street Journal this month believed that the Fed will wait until December to raise rates.
SOURCE: The Global Textiles
