INTERNATIONAL
Textile Raw Material Price 2016-12-04
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1081.74 |
USD/Ton |
1.22% |
12/4/2016 |
|
VSF |
2212.85 |
USD/Ton |
0% |
12/4/2016 |
|
ASF |
1858.56 |
USD/Ton |
0% |
12/4/2016 |
|
Polyester POY |
1123.12 |
USD/Ton |
0.26% |
12/4/2016 |
|
Nylon FDY |
2599.08 |
USD/Ton |
0% |
12/4/2016 |
|
40D Spandex |
4283.40 |
USD/Ton |
0% |
12/4/2016 |
|
Polyester DTY |
2032.80 |
USD/Ton |
0% |
12/4/2016 |
|
Nylon POY |
1422.96 |
USD/Ton |
1.03% |
12/4/2016 |
|
Acrylic Top 3D |
2773.32 |
USD/Ton |
0% |
12/4/2016 |
|
Polyester FDY |
5474.04 |
USD/Ton |
0% |
12/4/2016 |
|
Nylon DTY |
1335.84 |
USD/Ton |
0% |
12/4/2016 |
|
Viscose Long Filament |
2453.88 |
USD/Ton |
0% |
12/4/2016 |
|
30S Spun Rayon Yarn |
2860.44 |
USD/Ton |
0% |
12/4/2016 |
|
32S Polyester Yarn |
1724.98 |
USD/Ton |
0.59% |
12/4/2016 |
|
45S T/C Yarn |
2584.56 |
USD/Ton |
1.14% |
12/4/2016 |
|
40S Rayon Yarn |
1858.56 |
USD/Ton |
0.79% |
12/4/2016 |
|
T/R Yarn 65/35 32S |
2207.04 |
USD/Ton |
0% |
12/4/2016 |
|
45S Polyester Yarn |
3005.64 |
USD/Ton |
0% |
12/4/2016 |
|
T/C Yarn 65/35 32S |
2250.60 |
USD/Ton |
0% |
12/4/2016 |
|
10S Denim Fabric |
1.33 |
USD/Meter |
0% |
12/4/2016 |
|
32S Twill Fabric |
0.82 |
USD/Meter |
0% |
12/4/2016 |
|
40S Combed Poplin |
1.15 |
USD/Meter |
0% |
12/4/2016 |
|
30S Rayon Fabric |
0.66 |
USD/Meter |
0% |
12/4/2016 |
|
45S T/C Fabric |
0.64 |
USD/Meter |
0% |
12/4/2016 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14520 USD dtd. 4/12/2016)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
His collection always has a unique touch of Indian craftsmanship and ace fashion designer Rohit Bal says involving the local craft in his designs is his biggest strength. The designer, who will be showcasing his collection tonight at the second edition of Van Heusen + GQ Fashion Nights, said he is obsessed with Indian textiles and makes sure to use it in his creations. "I only imbibe Indian textile and craftsmanship in my designs - that's is my signature style. Whatever forms my source of inspiration, I would Indianise it and make sure I incorporate as much elements of our rich craftsmanship as possible in my collection, that's what I am obsessed with. "Indian crafts and textiles are really my strength and is what I identify with," Rohit told PTI in an email interview.
The Delhi-based designer's new menswear collection "Raat" is a mix of contemporary and classic designs. Rohit has used Indian techniques on the western silhouettes for the winter line. "This collection has a modern appeal with a slight deviation from the wedding wear. It has an interesting mix of casual, evening and occasion wear. It is all about playing around with varied textures and layering techniques," he says. The colour palette of the collection, which the designer calls 'bohemian chick funk,' revolves around dark hues and monotones ranging from black, coffee, deep shades of charcoal and indigo. Rohit feels Indian runway may have been female-dominated but there is a visible shift to menswear now with more designers creating exclusive men's range. "Runway has most certainly been female-dominated till about a decade ago. Now I see more menswear shows happening than the womenswear shows all over the country; there are menswear brands and there is mass retail of menswear. "I think men's fashion, retail and the whole business is huge in the country now. I feel now men's fashion is becoming mainstream, it's as important as women's fashion. It's not just about the designers, its about big and collective brands, every store has menswear collection so it is quite becoming a rage in India." Other designer, who will be showcasing their collection tonight are Rajesh Pratap Singh and Kunal Rawal.
SOURCE: The Business Standard
Bata Shoe Company, Zimbabwe’s largest shoe manufacturer in light of the shortage of textile has been forced to import textile from Kenya. Bata managing director, Mr Ehsan Zaman said that they are not getting consistent supplies of textiles for their factory. The Bata Shoe Company employ around 250 workers at their canvass factory. As the situation is very sensitive for them, the company have applied to Government for permission to import specific quantity and have received positive response. But this development by Bata Shoe Company has pushed their cost of production up. The poor cotton season, which saw the country managing to harvest about 30 000 tones of the white gold, the lowest since independence. The cotton industry value chain is facing a debilitating situation also the local textile sector remains subdued. This has resulted in the country’s largest textile manufacturer Zimbabwe Spinners and Weavers downsizing its operations and failing to meet local demand for textiles.
SOURCE: Yarns&Fibers
Even before the November 8 demonetisation, it appeared the GST talks were floundering on the issue of dual control of income tax assesses—which is why, on November 4 itself, finance minister Arun Jaitley called for an informal November 19 meeting of state finance ministers, to try and settle matters prior to the formal GST Council meeting. Given how in the past, all contentious issues had been resolved in the Council—as finance minister Arun Jaitley had said, no decision has ever been put to vote—it was widely hoped this would also be resolved. Many issues got resolved primarily because of the Centre’s willingness to go along, never mind that this resulted in a higher tax structure than is desirable. Indeed, even the retrograde anti-profiteering clause appears to have been brought in at the instance of the states—imagine the inspector-raj which will be unleashed when GST inspectors have the power to check if lower GST rates have been passed on to consumers. A very critical role, especially in the early phases, was that of West Bengal chief minister Mamata Banerjee—had this not been available, in fact, it is not clear if GST would have got even so far. But, with demonetisation, all of this appears to have been jeopardised—it didn’t help that the prime minister’s barbs on how those who were opposing him were supporters of black money seemed directly aimed at Banerjee. Not surprisingly, then, that West Bengal finance minister Amit Mitra has said that since demonetisation has destabilised the economy, the last thing it needs is the kind of shock GST will give; and, with demonetisation likely to hit production, the revenues of states have taken a huge hit.
It is possible that West Bengal’s opposition can be countered by the Centre’s new-found allies like Bihar chief minister Nitish Kumar, but forging a consensus on dual control was never going to be easy with the states adamant on not ceding control to the centre. Theoretically, the government has the option to go ahead and introduce the GST Bills as money Bills and skirt the Opposition in the Rajya Sabha, but this is of little use since, for GST to become an Act, it needs to be ratified by a minimum number of state assemblies as well— in any case, given the host of other issues that require perfect central and state coordination over the entire implementation phase, sticking to the unanimity principle is the Centre’s best bet, even if this means GST cannot be introduced from April 1. Indeed, the extra time should be used to try and fix the flaws introduced such as the higher tax rates and the clause on profiteering. Given the GST’s potential in eliminating tax evasion since the entire process of a good being manufactured/sold or a service being rendered would be digitally tracked, not meeting the April 1 deadline has to be a big disappointment. But that was always the risk the centre took when it embarked on its demonetisation drive. The fact that the constitutional amendment Act has a last-date of September 16, 2017 after which no VAT can be levied puts pressure on the states to come to an agreement on dual control, but this applies equally to the centre since it also loses its powers to levy excise and service taxes.
SOURCE: The Financial Express
It is nearly a month since the prime minister announced demonetisation. Of course, given the noises in Parliament and on the streets among the Opposition, it would seem it is a calamity that has been here forever. There is no doubt that the government put a priority on secrecy over detailed preparation or scenario-planning. The prime minister has a reputation for being a good administrator, but here, he has hit the buffers. The reason, paradoxically, is in the nature of the problem he is tackling. It is well known that the PM relies on his civil servants to implement policies. But the paradox is that there are few civil servants, even at the top, whom he could have trusted not to benefit from a foreknowledge of the plan and/or to break the secrecy in one way or another. That is the extent to which cash-bribes have permeated the system—even if he did not suspect anyone in the entire PMO, he could not take the risk.
But once the scheme was announced, we can conclude that the bureaucracy at the PMO, the finance ministry and RBI did not realise the extent of the problem that was created. This is where politicians have a better understanding of people than the bureaucrats would have. The elderly should have been treated better. The new currency should have been the same size as the old and the supply should have been better-arranged. If domestic printing facilities could not cope, foreign presses could have been used. They could be trusted to keep the secret. But once it had been announced, the PM could have harnessed his party better in helping out on the public front.
Another deep structural problem—not of the PM’s making, but still there—is that the PSU banks are not customer-friendly. They behave like bureaucrats everywhere. They treat their clients with the same mistrust that all civil servants treat all citizens. I can say from watching how my private bank treated me compared with how some of my relations got treated by their PSU banks. The sooner Modi privatises all PSU banks, the better. But, even so, these are small inconveniences. The two issues have to be kept separate. First is the anxiety about not losing the value of the small cash-hoards people hold quite legally. The time-limit was unnecessarily short here . Even so, the government should have used the print and electronic media to clarify the limits. Given that ministries buy large space in newspapers at the slightest excuse to put the pictures of PM and various ministers, the same device could have been used to clarify the situation.
The second issue was access to the new money. This was handled very badly. The quantitative limits made no sense, nor did the frequent changes in the limits. This was a strange way of preventing people from getting to their legally-acquired money, merely because the government mismanaged the supply of new currency. This raised the transaction cost of getting at your own money. Even so, at the end of the day, it is a fantastic, radical move. It should be used again if black money hoards reappear. The government has now used a weapon which can be reused. It is the only way hoards of cash can be destroyed as stores of value.
What will be the short term effect on output growth? The estimates range from a drastic drop of 3% in growth rate to only a few basis points. It will take six to nine months before the data are in. My own hunch is that the effects will be negligibly small. This is for two reasons. The banks are flush with deposits of the old money, and that can only lower the lending costs, boosting investment and consumption. The adverse effect of the lack of cash-hoards to buy jewellery or real estate will lower price, but may not lower the quantity sold. Thus, while nominal expenditure may suffer, in real terms, the effects will be negligible as prices will fall in absence of the black-money hoards while owners would have low price elasticity.
The adverse effect comes from shortage of new cash. Here, the effect will be negative in the very short run, say a month to six weeks. But later, people will overcompensate for a while with spending before reverting to the mean. Thus, the effect will be spread over the second half of the Q4 2016 (negative) and Q1 2017 (strongly positive). Thus, we may see a very marginal downward revision in the fourth quarter growth rate—may be 50 basis points—and a boost in the first quarter of next year, of, say, 100 basis points. Overall, the growth rate for FY17 should be as predicted or slightly better.
SOURCE: The Financial Express
The Heart of Asia conference on Afghanistan concluded on Sunday with India and Afghanistan expressing their resolve to increase connectivity, including an air cargo service to boost trade. Prime Minister Narendra Modi called upon participating countries to make Afghanistan a ‘geography of peace’, to connect South Asia with Central Asia and Europe. The Amritsar declaration, issued at the end of the meeting, mentioned Pakistan-based terror outfits Lashkar-e-Taiba and Jaish-e-Mohammad, along with terror groups to have caused high level of violence in Afghanistan and the region. It was for the first time that a Heart of Asia declaration referred to these two terror groups and the Taliban, ISIL/Daish and its affiliates, the Haqqani Network, Al Qaeda, Islamic Movement of Uzbekistan, East Turkistan Islamic Movement and Jamaat-ul-Ahrar Jundullah. It also mentioned Tehrik-e-Taliban Pakistan, which Islamabad alleges the Afghans and Indians to be supporting. There was also a setback to India as draft Regional Counter-Terrorism Framework Strategy, recently prepared by Afghanistan, could not be adopted and referred to an expert panel. Heart of Asia is an international effort to help Afghanistan in its transition from the warn-torn past to a better future.
Finance Minister Arun Jaitley said providing Afghanistan connectivity to strengthen economic activities was the focus of the meet. He said the choice of Amritsar as the venue for the conference was a deliberate one intended to highlight the immense potential for regional connectivity and the benefits that it can bring to land-locked Afghanistan, provided the countries concerned show sincerity and political determination. The Afghan delegation also visited the Integrated Check Point at Attari on the India-Pakistan border.
Jaitley noted the India-Iran Chabahar port development project would help landlocked Afghanistan’s regional connectivity plans. He said Afghanistan would benefit from the zero duty available to Afghan exports to India, and benefit if Afghan trucks could carry Indian products to markets in Afghanistan, Central Asia and beyond and vice-versa. He said India would be glad to receive Afghan trucks at Attari border.
During the bilateral meeting, Modi and Afghan President Ashraf Ghani held a bilateral meeting. The two agreed to operationalise the additional $1 billion Indian aid for, among other things, “a possible air corridor between India and Afghanistan to overcome obstacles to promotion of bilateral trade”. India-Afghanistan trade is hampered as Pakistan doesn’t allow its land routes for India and Afghanistan.
SOURCE: The Business Standard
Bangladesh's garment shipments to Italy and Japan, the nationals of which were killed in a terrorist attack in Dhaka in July, remained unscathed in July-October -- a development that will bring a heavy sigh of relief among exporters. In fact, apparel exports to the two nations increased during the period, according to data from the Export Promotion Bureau. In a brazen attack in the heart of Dhaka's diplomatic zone on July 1, nine Italians, seven Japanese, three Bangladeshis and an Indian were killed. All Italians killed in the attack were garment retailers, who had been doing business with Bangladesh for many years. For example, Nadia Benedetti owned a buying house, Studiotex, which sourced more than $50 million worth of garment items from Bangladesh in a year. Some others like Cristian Rossi and Claudia Maria D'Antona used to source few hundred million dollars worth of garment items in a year from the country.
During the July-October period, apparel items worth $378.30 million were exported to Italy -- the sixth largest garment export destination for Bangladesh -- up 6.43 percent year-on-year. Similarly, garment shipments to Japan increased 7 percent year-on-year during the period. Some $230.58 million worth of apparel products were shipped to Japan, the largest importer of Bangladeshi garments in Asia. “Retailers not only from Italy and Japan but from all over the world have started coming back,” said Mahmud Hasan Khan Babu, vice-president of Bangladesh Garment Manufacturers and Exporters Association. The reason is -- the restoration of confidence in safety of foreigners' lives in Bangladesh, he said. “If the current security scenario continues, we will not face any dearth of retailers -- Bangladesh is their first choice for sourcing garment items.” He, however, said the impact of the Gulshan attack on exports to Italy and Japan, if there is any, can be known in the months of November, December and January. “But the situation right now is very normal,” Babu added. In fiscal 2015-16, garment exports to Italy, where duty-waiver is applied under the European Union's Everything but Arms scheme, grew 3.22 percent year-on-year to $1.39 billion. Garment exports to Japan stood at $774.47 million last fiscal year, up 18.68 percent from a year earlier.
SOURCE: The Daily Star
EU countries have placed more clothing orders after the reinstatement of the GSP (generalised scheme of preferences) rights with the bloc, according to the Myanmar Garment Entrepreneurs Association. Japan placed the most orders. Last year, Myanmar exported over US$580 million worth garment to Japan, according to the association. Before 2003, the US was the major market. Since 2010, Japan has become more important. “The EU will top the order list this year, followed by Japan,” said Myint Soe, chair of the association.
Until November 11 this fiscal year, the industry’s export earnings exceeded US$1 billion, up more than US$690 million compared with the same period last year, said Khin Maung Lwin, assistant permanent secretary of the ministry. Thirty-three per cent of clothing exports go to Japan, 25 per cent to the EU (especially Germany), 25 per cent to South Korea, 2.4 per cent to the US and 2.4 per cent to China. There are more than 400 garment factories in the country in which 400,000 workers are employed. High tariffs hamper garment exports though the US does not ban garment imports from Myanmar. Taxes levied on exports of cotton clothing to the US will be 10 to 12 per cent and 37 per cent on nylon items.
SOURCE: The Eleven Myanmar
The National Tariff Commission (NTC) is moving at a snail's pace as newly appointed member Saira Khattak did not assume charge even after a lapse of two months. Daily Times learnt that NTC has been made operational in October 2016 after the prime minister gave approval to appoint Qasim Niaz as NTC chairman and Abdul Khaliq, Saira Khattak, Rubina Athar and Tippu Khan as its member. Saira Khattak has not taken the charge so far. This is the Commerce Ministry's fault which failed to provide another name to the PM. Documents show that the newly-formed team has just initiated the three inquiries in two months but there are 20 applications pending in the department. The three inquiries are antidumping investigation against alleged dumped imports of polyvinyl chloride (suspension grade) from China, South Korea, Taiwan and Thailand; anti-dumping investigation against alleged dumping of polyester filament yarn originating in and/or exported from China and Malaysia; and investigation against alleged dumped imports of deformed concrete reinforcing steel bars origination in and exported from China.
During the last two years, NTC received 20 applications for local industry for imposing the anti-dumping duties in which 10 applications were against the exported items from China, two from India, South Korea, Indonesia and one from Ukraine, Malaysia, Japan and Thailand but due to lack of members and litigation the NTC could not start the inquiries. The dumping items included chemicals, iron and steel, paper and paper board producers, textile industry and ceramic tiles.
According to new law, NTC would find the solution of the problems being faced by the local industry and domestic exporters. Its other duties are rationalization of the tariff and giving proposals for tariff reforms, removal of tariff anomalies and any other matter relating to tariff or trade measures that the federal government may refer to the commission. Under the new law, the functions of the NTC include advising the federal government on tariff and other trade measures to provide assistance to the domestic industry and improving competitiveness of the domestic industry. In addition to its prescribed duties, the commission would also perform functions with respect to international trade and other matters that may be assigned to it by the trade remedies laws or any other law for the time being.
SOURCE: The Daily Times
Government has announced a tax exemption for importation of leather and textile raw materials. The exemption applies to both import duties and Value Added Tax (VAT) and became effective on Friday, December 2. The announcement is good news for the leather and textile manufacturing industry, which has for long been relying on imported and highly taxed raw materials. Local investors have been paying between 10 and 25 per cent on textile and leather raw materials imported. The high taxes pushed up the cost of production and consequently the consumers paid more for the finished products like clothes and shoes. However, after the waiver, local manufacturers will be able to import more raw materials in large quantities to be able to manufacture enough textile and leather products to meet the local market demand. It is also a feasible project in line with government’s policy to ban second-hand clothes and footwear products.
Although this move will see government lose billions of francs in taxes that it was getting from leather and textile imports, in the long run it will boost Made in Rwanda campaign. Now, the ball is in the court of manufacturers. They should produce both quality and quantity to satisfy the local market and eventually tap into the export market. With the ban on second-hand clothes set to be effected in the next three years, local manufacturers should move fast to ensure that within the next 2 years, there is enough supply on the market. The exemption is also likely to attract more investors in the leather and textile industry while the increased production will also create more jobs within the sector. But for the industry players to effectively benefit from this waiver, they should collaborate. Small scale manufacturers and big scale manufacturers must combine efforts to leverage on this tax waiver.
SOURCE: The New Times
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said that more than 70 textile units have been closed down due to the failure the Trade Development Authority of Pakistan (TDAP)’s policies. Vice President of FPCCI, Riaz Khattak, has said that textiles exports declined due to the appointment of incompetent export managers in TDAP who kept deviating from the facts and figures in front of the Prime Minister. He appealed to the government to replace the incompetent team heading TDAP with professionals to boost exports and protect the Pakistani textile manufacturing sector. Pakistan exports have declined $ 4.2 billion, down from $ 25 billion in FY 2013-14 to $ 20.8 billion in FY2015-16. In three years, he said, Bangladesh exports have increased to $ 35 billion dollars.
TDAP is the main body for the organization of international trade exhibitions and expos in Pakistan and around the world to explore new markets for local products, he said, adding that the poor performance of TDAP was a reflection of its incumbent TDAP chief executive S M Munir’s lack of vision or experience to handle such a crisis. He urged the prime minister to remove the chief executive officer of TDAP for his poor performance. Performance of TDAP under S M Munir has nosedived, he said. At a time when exports are facing tough competition from regional countries, the role of TDAP is crucial to revive exports and a strong leader is required to steer the country’s exports out of crisis, Khattak said. He said the CEO TDAP had been unsuccessful in achieving synergy in development of exports. S M Muneer has become head of TDAP only to interfere in FPCCI affairs, and, at present, he was interfering in its upcoming elections to win support for his United Business Group. Khattak said last year Islamabad High Court issued a stay order barring the TDAP Chief Executive from interfering in the politics of FPCCI. This year, he was interfering in elections again. The FPCCI elections are scheduled to be held in December.
SOURCE: The Pakistan Today
Business community has shown their concerns over the country’s increasing trade deficit and urged the government to take local stakeholders in confidence and eradicate unnecessary hurdles hindering the exports and the overall industry. They said that the textiles sector is the key which can make a difference in either ways. “The quarterly trade statistics suggests that country’s trade deficit is likely to widen in coming months, the government should immediately announce the textiles package as the delay has already hit the textile exports”, said Mian Anjum Nisar, former president and Industries (LCCI). Nisar further said that the textiles sector, the largest exporting sector which after gaining the Generalized System of Preferences for trade Plus status in 2014, is witnessing continues decline due to uneven policies, higher cost of doing business and different taxation issues. He said that this sector is considered as back bone of the country and the largest manufacturing sector, but it fails to reap the benefits of GSP plus status.
Unlike Bangladesh which manages to push its overall exports to $31.2 billion in 2014-15, in which textiles accounts for almost $25b. “Pakistan’s largest exporting sector after touching $13.8 billion exports in 2013-14 has dropped down to $12.14b in the year 2015-16, which is alarming”, he added. The country’s trade deficit has increased by 8.14 percent to $23.963 billion in fiscal year 2015-16 compared to corresponding figure of 22.16 billion. Even in first three months of current fiscal year, the deficit has widened to $9.31 billion, whereas exports dropped by 6.31 percent to $6.4 billion. However, Pakistan Industrial and Traders Associations Front Senior Vice Chairman Tanvir Ahmad Sufi said that imports are saving local industry and the government should lower down the duties on important raw materials. “Pakistan’s economy is being saved by the local industry and government should lower down its tariffs on those imported raw materials which are not available in Pakistan”, said Sufi.
SOURCE: The Nation
The Federal Government’s efforts at diversifying the economy and reducing dependence on importation are being undermined by value-chain operators, farmers and providers of key raw materials who would rather export raw commodities for foreign exchange than sell to local producers at market prices. The hot chase for forex by farmers and other raw material providers outside of government control will lead to higher prices, especially as scarcity and demand from neighbouring countries put pressure on local supply.
Local manufacturers say raw commodities like cotton, grains and natural gas, among others are being offered to local manufacturers at prevailing international market prices and payment being demanded in foreign exchange even as the materials are being harvested and produced domestically. Operators noted that successes recorded by government intervention in some key industries might be eroded if access to raw materials was not guaranteed. This means that consumers may pay more for even locally-produced goods if the ugly trend is not checked.
The Senior Special Assistant on Media and Publicity to the President, Garba Shehu, had raised the alarm that the country currently risks famine from early next year due to the huge export of the country’s grains to attract foreign exchange, even when local demands have not been met. With the exception of organisations that deployed out-grower schemes to develop their value-chain capacity, other operators have had to depend on imports subject to availability of foreign exchange or depend on open market where prices are arbitrarily determined by farmers and value-chain operators. The President of the Manufacturers Association of Nigeria (MAN), Dr. Frank Jacobs, explained that manufacturers have begun to look inwards for raw materials sourcing since access to foreign exchange has become limited. The idea of ‘looking inwards’ for raw materials is to sustain operations, leading to poor capacity utilisation. He argued that suppliers’ penchant for across-the-border sales is frustrating manufacturers looking to source raw materials locally.
Manufacturers are worried that government, which recently reported glut in grains and farmers’ inclination to sell to foreigners, has not evolved an efficient interventionist policy to mop up the excess and guarantee future supplies in event of famine. The Ministry of Agriculture could not confirm immediate plans to revive marketing boards. The Guardian could not reach Minister Audu Ogbeh on his mobile phone. His media aide, Dr. Olukayode Oyeleye, instead offered to provide details on Monday (today). Marketing board is a stop-gap mechanism to ensure supplies and stabilize price between planting seasons.
The President of the Nigerian Textile Manufacturers Association (NTMA), Mrs. Grace Adereti, canvassed the revival of the Commodities Board as a measure to ease textile manufacturers’ access to raw materials for production. Lamenting the present situation, Aderetin said: “When we contacted the farmers, they said that they are not ready to supply to us at the price negotiated by the ginners. Further inquiry showed that farmers based their price on what they will generate from exporting the cotton. They want to sell at 40 cents per kilogramme of cotton. “If we accede to the price, our output will become uncompetitive considering the infrastructural deficit in the country, which affects the cost of production. We are in a fix. Some factories have suspended production because they do not have cotton for production. “In the past, there was a market board and government had control over the price of cotton. We want the government to intervene in this matter and save manufacturers. We have the machinery and the workforce and we are ready to produce, but we are hindered by the present situation.”
The Director-General of the Lagos Chamber of Commerce and Industry (LCCI), Muda Yusuf, decried the lack of a fiscal policy framework to guide operations in the real sector. According to him, if the fundamentals are not right, backward integration will not work as so many linkages in the value-chain are missing. “We need to build capacity of investors in the value-chain for backward integration to be successful. Except for the big manufacturers with huge capacity, it could be too much for industrialists to embark on the process with little or no support. Government needs to embark on a holistic and integrated approach as some of the raw materials are not easy to get as it is being described”, Yusuf said.
The Director-General of NTMA, Hamma Kwajaffa, also alleged that rivalry among government agencies contributed to the challenges hindering the growth of the textile industry. “The former Minister of Agric initiated the creation of the cotton corporation, but he had a rivalry with the Minister of Trade that said establishing the corporation falls within his domain. That was how the whole matter was stalled at the Federal Executive Council. “The absence of regulation makes everyone to fix prices that they want across the value chain. If you go to Chad, you cannot just buy cotton. It is regulated by their government. We will prefer that local usage of cotton is given preference before export,” Kwajaffa said. The Chairman, MAN Gas Users Group, Dr. Michael Adebayo stated that dollarisation of materials needed for production is a disincentive for local producers, adding that the trend has affected gas pricing, with many operators struggling to keep their factories running.
SOURCE: The Guardian Nigeria
Textile exporters from Sindh and Punjab are divided over the gas tariff differential for industry in the two provinces, with Punjab exporters demanding uniform price for the entire industry. Currently, the rate of Regasified Liquefied Natural Gas (RLNG) to Punjab industry is around Rs932 per million British thermal unit (mmBtu) compared to the system gas which is being provided to Sindh industry at Rs600 per mmBtu. The finance minister recently announced a cut of Rs200 per mmBtu for system gas under the Gas Infrastructure Development Cess (GIDC), but it has yet to be notified.
Exporters from Sindh, who are using only system gas as per constitutional requirements, are sticking to their stand that the government should supply them natural gas at Rs400 mmBtu after the federal government notifies the reduction of Rs200 per mmBtu. Textile industry representatives in Punjab argue the current difference of Rs330 per mmBtu is already increasing the cost of doing business and non-competitiveness in local as well as international markets and further reduction of Rs200 per mmBtu will aggravate the situation. “Forget international competitiveness for the time being, how do you expect Punjab’s export industry to compete with Sindh in terms of export orders given the current price discrimination which is increasing cost of doing business,” questioned Aziz Ullah Goheer, secretary general of Pakistan Textile Exporters Association. “We are demanding the government to apply weighted average price between system gas and RLNG which will stand somewhere between Rs500 and Rs550 mmBtu”, he said. “We are not against the cheap provision of gas to Sindh-based industry but we do want gas for Punjab on equal footing. The government can at least give subsidy either on RLNG or restore system gas till the severity of winter to reduce gas tariff difference,” he suggested.
A Punjab-based textile exporter, who wished not to be named, said exporters want the government and Sindh-based textile industry to agree with a uniform rate for monthly gas tariff across the country. If Sindh government can take up the matter of GIDC with the federal government for its successful withdrawal under the 18th Amendment, why can’t the Punjab government ensure relief for its textile industry, he questioned. Sui Northern Gas Pipelines Limited Managing Director Amjad Latif said the company was not in position to discuss gas price differential unless it receives a notification from the Ministry of Petroleum and Natural Resources. To decide any price mechanism, keeping in view the price difference between system gas and RLNG among the provinces, is the exclusive domain of the federal government, he added.
SOURCE: The Global Textiles
COTTON USA is a premium trademark ingredient brand that identifies products made from U.S. cotton through all stages of processing and marketing. COTTON USA plans to promote US cotton's quality, responsible production and innovation at Heimtextil, the world's leading trade show for home textiles to take place on January 10-13, 2017 in Frankfurt, Germany. COTTON USA will seize the opportunity to offer sourcing support to the global home textile industry. As an added incentive to the hospitality industry, COTTON USA will also introduce its new hotel and travel initiative that connects COTTON USA licensed manufacturers with the hotel sector to provide US cotton-rich bedding and towels. This new COTTON USA initiative allows hotel partners to specify and highlight their use of US cotton-rich products so that, in turn, their guests can enjoy the safe and comfortable feeling of "home away from home" when staying at a hotel."
For four days, the COTTON USA pavilion at Heimtextil will serve as an international meeting point for the entire cotton trade, including merchants, mills, manufacturers, brands, retailers and the press. COTTON USA, Cotton Incorporated and Supima will provide comprehensive information about the global cotton market, sourcing, consumer research, and the marketing-promotional services the US cotton industry offers. Visitors to the exhibit can learn about the COTTON USA Sourcing, Marketing and Licensing Programs and about COTTON USA's collaboration with leading brands and retailers worldwide. Visitors also will be able to view innovative product samples from the new collections of international COTTON USA licensees.
COTTON USA has strong consumer awareness and preference for COTTON USA, with more than 51,000 product lines and 3.8 billion products having proudly carried the name COTTON USA since 1989. Setting the gold standard for global best practices in cotton production, the United States is well-positioned to continue offering its valued customers steady supplies of quality fiber. U.S. cotton is grown under the strongest, mandatory, enforceable and sustainable farming regulations that include long-term land conservation and lower water usage.
SOURCE: Yarns&Fibers
Authorities in Ghana have busted a fake US embassy in the capital Accra run by a criminal network that for a decade issued illegally obtained authentic visas, the US State Department has said. Until it was shut down, the sham embassy was housed in a rundown, pink two-storey building with a corrugated iron roof and flew an American flag outside. Inside hung a portrait of the US president, Barack Obama. “It was not operated by the United States government, but by figures from both Ghanaian and Turkish organised crime rings and a Ghanaian attorney practising immigration and criminal law,” the State Department said in a statement.
Turkish citizens who spoke English and Dutch posed as consular officers and staffed the operation. Investigations also uncovered a fake Dutch embassy, the State Department said. Officials in the Netherlands were not immediately reachable for comment on Sunday. The crime ring issued fraudulently obtained but legitimate US visas and false identification documents, including birth certificates at a cost of $6,000 (£4,700) each, the statement said. During raids that led to a number of arrests, authorities also seized authentic and counterfeit Indian, South African and Schengen zone visas and 150 passports from 10 different countries along with a laptop and smartphones. The statement did not say how the gang obtained the authentic visas or how many people were believed to have illegally entered the US and other countries using visas issued by the crime ring. “The criminals running the operation were able to pay off corrupt officials to look the other way, as well as obtain legitimate blank documents to be doctored,” the statement said. There was no immediate comment from Ghana’s Criminal Investigations Division. Visas for western countries are in high demand in Africa and embassies say the visa market is a big target for organised crime.
The real US embassy in Ghana is a prominent and heavily fortified complex in Cantonments, one of the capital’s most expensive neighbourhoods. Lines of people queue outside each day for visa appointments and other consular business. The fake embassy was open three mornings a week and did not accept walk-in appointments. Instead, the criminals advertised on billboards in Ghana, Togo and Ivory Coast and brought clients from across west Africa to Accra where they rented them hotel rooms in nearby hotels. US authorities conducting a broader security operation were tipped off about it and assembled a team including the Ghana Detectives Bureau and police as well as other international partners to shut down the ring.
SOURCE: The Guardian
