|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1302.76 |
USD/Ton |
0% |
2/16/2017 |
|
VSF |
2529.83 |
USD/Ton |
0.17% |
2/16/2017 |
|
ASF |
2154.29 |
USD/Ton |
0% |
2/16/2017 |
|
Polyester POY |
1313.68 |
USD/Ton |
0% |
2/16/2017 |
|
Nylon FDY |
3595.33 |
USD/Ton |
0.82% |
2/16/2017 |
|
40D Spandex |
4803.48 |
USD/Ton |
0% |
2/16/2017 |
|
Polyester DTY |
5647.73 |
USD/Ton |
0% |
2/16/2017 |
|
Nylon POY |
1532.02 |
USD/Ton |
0% |
2/16/2017 |
|
Acrylic Top 3D |
3420.66 |
USD/Ton |
0% |
2/16/2017 |
|
Polyester FDY |
2299.85 |
USD/Ton |
0% |
2/16/2017 |
|
Nylon DTY |
1615.72 |
USD/Ton |
0% |
2/16/2017 |
|
Viscose Long Filament |
3799.12 |
USD/Ton |
0% |
2/16/2017 |
|
30S Spun Rayon Yarn |
3158.65 |
USD/Ton |
0.46% |
2/16/2017 |
|
32S Polyester Yarn |
1921.39 |
USD/Ton |
0% |
2/16/2017 |
|
45S T/C Yarn |
2721.97 |
USD/Ton |
0.54% |
2/16/2017 |
|
40S Rayon Yarn |
3289.66 |
USD/Ton |
0% |
2/16/2017 |
|
T/R Yarn 65/35 32S |
2387.18 |
USD/Ton |
0% |
2/16/2017 |
|
45S Polyester Yarn |
2066.95 |
USD/Ton |
0% |
2/16/2017 |
|
T/C Yarn 65/35 32S |
2299.85 |
USD/Ton |
0% |
2/16/2017 |
|
10S Denim Fabric |
1.35 |
USD/Meter |
0.11% |
2/16/2017 |
|
32S Twill Fabric |
0.84 |
USD/Meter |
0.17% |
2/16/2017 |
|
40S Combed Poplin |
1.17 |
USD/Meter |
0% |
2/16/2017 |
|
30S Rayon Fabric |
0.67 |
USD/Meter |
0% |
2/16/2017 |
|
45S T/C Fabric |
0.67 |
USD/Meter |
0% |
2/16/2017 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14556 USD dtd. 16/02/2017)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
The first-ever exhibition of "incredible Indian textiles" will be held next week in Dubai in which 19 companies from India will participate with an aim to forge strategic alliance with importers in the UAE. The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) of India, an apex body of manufacturers and exporters of Man-Made Fibre (MMF) textiles, is organising the exhibition on February 19-20 in association with the Embassy of India in abu dhabi and consulate Nineteen Indian manufacturing or exporting companies – representing product categories from yarn to fabrics, and made-ups, are participating,General of India in Dubai. Indian consulate in Dubai The Middle-East countries have emerged as a leading destination for India's MMF textiles exports with a share of 29 per cent (USD 1709.65 million), followed by the Asia 25 per cent (USD 1474.02 million) and the quality conscioussaid. India is world's second-largest producer of synthetic fibre and yarn, cotton, cellulosic fiber and silk. Participants in the exhibition will display a wide array of products such as suitings, shirtings, furnishing materials, home textiles, made-ups, and apparels. The objective of the exhibition is to demonstrate the incredible Indian textiles and of which the MMF Textiles have a range containing blended fabrics, made-ups, yarns including apparels to importers in the UAE to facilitate sourcing of their specific requirements of textiles from India. Besides forging a strategic alliance and global partnership between UAE buyers and Indian companies, India aims to strengthen the trade ties between the two countries, particularly in the fastest growing man made textile segments. India exported synthetic and rayon (MMF) textiles worth USD 5790 million to over 150 countries during 2015-16. European Union. Leading markets for India's MMF textile exports during 2015-16 were UAE with 12 per cent share in total exports followed by the US (9 per cent) and20 per cent (USD 1170.66 million), the statement said. Turkey The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) of India, an apex body of manufacturers and exporters of Man-Made Fibre (MMF) textiles, is organising the exhibition on February 19-20 in association with the(8 per cent). The UAE imported USD 17 billion worth of textiles and clothing products from the world during 2015. Dubai, Feb 16 The first-ever exhibition of "incredible Indian textiles" will be held next week in Dubai in which 19 companies from India will participate with an aim to forge strategic alliance with importers in the UAE. Embassy of India in Abu Dhabi and Consulate General of India in Dubai. Nineteen Indian manufacturing or exporting companies – representing product categories from yarn to fabrics, and made-ups, are participating, Indian consulate in Dubai said. India is world's second-largest producer of synthetic fibre and yarn, cotton, cellulosic fiber and silk. Participants in the exhibition will display a wide array of products such as suitings, shirtings, furnishing materials, home textiles, made-ups, and apparels. The objective of the exhibition is to demonstrate the incredible Indian textiles and of which the MMF Textiles have a range containing blended fabrics, made-ups, yarns including apparels to importers in the UAE to facilitate sourcing of their specific requirements of textiles from India. Besides forging a strategic alliance and global partnership between UAE buyers and Indian companies, India aims to strengthen the trade ties between the two countries, particularly in the fastest growing man made textile segments. India exported synthetic and rayon (MMF) textiles worth USD 5790 million to over 150 countries during 2015-16. The Middle-East countries have emerged as a leading destination for India's MMF textiles exports with a share of 29 per cent (USD 1709.65 million), followed by the Asia 25 per cent (USD 1474.02 million) and the quality conscious European Union 20 per cent (USD 1170.66 million), the statement said. Leading markets for India's MMF textile exports during 2015-16 were UAE with 12 per cent share in total exports followed by the US (9 per cent) and Turkey (8 per cent). The UAE imported USD 17 billion worth of textiles and clothing products from the world during 2015.
Source: Outlook
The government had introduced single window policy to many licences and permissions including labour permissions, he said. The government is encouraging entrepreneurs with many incentives such as subsidies on interest capital subsidy, he said.District industries general manager Ramalingeswara Raju said entrepreneurs should be innovative in improving business. Visakhapatnam: The package of Rs 6,000 crore announced by the government for the textile and apparel sector includes several tax and production incentives by bringing flexibility in labour laws to increase productivity and to create one crore jobs, mostly for women in the next three years, said K Chandra Mouli, assistant director, regional office of the textile commissioner.He was participating in an awareness programme on "Special package for employment generation and promotions of exports in apparel/garment and made ups" organised by the Andhra Pradesh Chambers of Commerce and Industry Federation in association with ministry of textiles on Wednesday.Subsequently, joint director, commissioner of handlooms, Srikant Prabhakar stated that after bifurcation, all the gunning and spinning mills went to Telangana and there is a huge vacuum in Andhra for these two industries. Visakhapatnam: The package of Rs 6,000 crore announced by the government for the textile and apparel sector includes several tax and production incentives by bringing flexibility in labour laws to increase productivity and to create one crore jobs, mostly for women in the next three years, said K Chandra Mouli, assistant director, regional office of the textile commissioner.He was participating in an awareness programme on "Special package for employment generation and promotions of exports in apparel/garment and made ups" organised by the Andhra Pradesh Chambers of Commerce and Industry Federation in association with ministry of textiles on Wednesday.Subsequently, joint director, commissioner of handlooms, Srikant Prabhakar stated that after bifurcation, all the gunning and spinning mills went to Telangana and there is a huge vacuum in Andhra for these two industries. The government is encouraging entrepreneurs with many incentives such as subsidies on interest capital subsidy, he said.District industries general manager Ramalingeswara Raju said entrepreneurs should be innovative in improving business. The government had introduced single window policy to many licences and permissions including labour permissions, he said.
Source: Time of India
Continuous positive growth since the last five months in the current fiscal provides good hope that the export sector was in the path of revival, Regional Chairman, Federation of India Exporters Organisation (FIEO) Southern Region, A Shaktivel said here today. Reacting to the export performance for January, he said the positive growth, coming after two years of consecutive negative growth, was the result of various steps taken by the Government, including special packages for textile and leather sector, interest equalization scheme announced for five years. After lowest growth during 2016, world trade expected to be better in 2017 and 2018, especially the markets of emerging economies. However, globally prices of all products were coming down and there was a big challenge for Indian manufacturing products for continuing competitive especially labour oriented products like textiles and garments, Leather, Engineering, he said in a release here. Shaktivel requested the Commerce Ministry to consider the present market situation and extend better facilities to exporters while doing the Midterm review of Foreign Trade Policy. On uncertainty surrounding U.S. trade policies, he said India can compete in labour intensive sectors like textiles and garments, leather products, engineering, pharma and handicrafts in that market as the country has advantages of availability of raw material and efficient and skilled labour. There was an urgent need for product diversification for aiming higher export growth, he said and cited the example of the textile sector, where emerging demand in the world was for the technical textiles sector. However India has only a few exporters in this field and FIEO was in talks with various agencies to set up technical textile clusters in Tamil Nadu, where common facilities including R and D facilities can be provided to start ups, Sakthivel added.
Source: PTI
Assurance given to KTR during his visit there The Tiruvuru Exporters Association (TEA) has agreed to set up 10 units in the proposed mega Textile Park in Warangal. The assurance was given to Minister K. T. Rama Rao during his visit to Tiruvuru and Palladam Textile Parks in Tamil Nadu on Thursday after he explained the handloom policies of Telangana and the Mega Textile Park in Warangal. The Minister appreciated the initiatives and planning of TEA and invited their representatives to visit the Warangal Textile Park and assured them that Telangana government would allocate a separate block for TEA officials in the Textile Park. He spoke to TEA employees and enquired about the facilities extended to them. The Minister gathered more information about the measures taken for developing the textile industry.
Source: The Hindu
On Wednesday, figures from the Commerce and Industry Ministry revealed that India’s merchandise exports went up for the fifth consecutive month in January. This was accompanied by a substantial rise in imports as well, which grew by 10.70 per cent in January to $31.95 billion, the highest pace seen in more than two years. Among these imports, the non-oil, non-gold component — generally taken as a measure of industrial demand in the country — rose by 4.16 per cent in January for the fourth consecutive month. It had risen by 4.4 per cent rise in December following a large jump in November when a 9.64 per cent rise was registered. “While the signs are encouraging, it is too early to signal a steady pick-up in industrial demand," said Devendra Pant, chief economist at India Ratings and Research. The latest figures available show industrial production had lapsed back into negative territory in December. The Index of Industrial Production (IIP) had contracted 0.4 per cent in December. In November, industrial production had belied all expectations of an adverse impact of demonetisation with the index rising to a 13-month high of 5.7 per cent. It had contracted by 1.8 per cent in the month before. The sharp rise was due to low industrial numbers in November 2015 and a sharp reversal of a 12-month declining trend in capital goods. An increase in commodity prices among other reasons have been blamed for the regular rise in non-oil, non-gold imports while belying hopes for a return to steady industrial demand.
Source: Business Standard
Indian fashion chains are betting big on the consumption story here as American chains shut stores, amid competition from online retailers. Macy’s, the largest department store chain in the US, said it was closing 68 stores. Sears will also close 42 stores. Kmart is closing 108 stores and and discount chain Kohl’s has closed 18 stores, according to reports. Indian chains are scripting a different story, despite a strong online retail presence. Future Group-owned Central plans to add 15 new Central HD stores. Central HD has upgraded their décor and has minimalistic fixtures with an aspirational fashion boutique feel. “The store is designed to offer an enhanced and more customised service to shoppers,” said Vishnu Prasad, chief executive officer, Central. “We have received great response with the new Central HD. We are expecting 15-20 per cent like-to-like growth.” Shoppers Stop, the country’s largest department store chain, is planning to open four new stores this year and is working on a 35,000 sq ft format for smaller cities, against the average size of 45,000 sq ft. “The new stores have designated shop-in-shops for private brands to provide a luxe experience,” said Govind Shrikhande, managing director, Shoppers Stop. “We are targeting seven-eight per cent like-to-like growth in the department store segment.” Max, Landmark Group’s value fashion chain plans to open 40-45 stores at an investment of Rs 5 crore each. These stores have the latest retail identity as in their home market of Dubai with omnichannel capabilities in terms of digital displays and a WiFi environment. Vasanth Kumar, executive director of Max, said, “Unlike the US, India’s per capita retail space creation is very low and so is the share of organised retail. Also, 60 per cent of our population is below 30 years,”. “As a country, we have a long way to go before being saturated,” Kumar pointed out. Rajat Wahi, partner and head (consumer markets) at KPMG, said with rents declining and e-commerce facing a slowdown, modern trade would resume expanding its footprint, especially in large formats (over 50,000 sq ft) and medium formats (10,000-30,000 sq ft). “While e-commerce will continue to grow and some categories will be bought predominantly online, most Indian consumers will continue to shop for high-value products in brick and mortar stores,” Wahi said. Devangshu Datta, chief executive officer at Third Eyesight, said in a market as fragmented as India’s department stores “have a role to play as authoritative ‘experience environments’ for the consumer and as platforms to showcase diverse brands.”
Source: Business Standard
The Centre and States are expected to take up the issue of taxation of gold when the Goods and Services Tax Council meets on February 18 in Udaipur. “Almost all issues have now been finalised. The taxation of gold is one of the key pending issues,” said a person familiar with the development. Sources said the Centre and States are veering towards a 4 per cent rate on the precious metal under GST, which would be higher than the existing rate, but not too high as this would lead to a surge in smuggling. “We would back a 4 per cent GST on gold, which is in line with what was recommended in Chief Economic Adviser Arvind Subramanian’s report to the Finance Ministry,” said Kerala Finance Minister Thomas Isaac. At present, there is a value-added tax of about 1 per cent on gold and excise duty of 1 per cent on non-silver jewellery. It also attracts an import duty of 10 per cent. Most States agree with the Subramanian report, which had favoured taxing gold in the 2-6 per cent range as it would help keep rates under GST low and protect revenue, while not adversely impacting consumers as it is not a necessity. The GST Council, headed by Finance Minister Arun Jaitley, has already finalised a four-tier rate structure of 5 per cent, 12 per cent, 18 per cent and 28 per cent. At that time, it was decided that the rate on gold would be finalised later. Another State official also ruled out multiple rates for services and said that these would be taxed at the same rates as goods. “There has been no discussion on this issue,” he added. Draft GST laws. At the meeting this weekend, the Centre and States will also approve the draft model GST Bills for the Centre, States, Integrated GST and compensation law. The Law Ministry is understood to have approved the language and draft of the model GST laws, and these will also be discussed by the sub-committee of officers on Friday, ahead of the Council meeting. If these are cleared by the GST Council, they will be introduced by the Centre and States in Parliament and State Assemblies in the Budget session to ensure the tax is rolled out from July 1. Meanwhile, the Council is also likely to begin discussions on a proposed anti-profiteering agency, which will ensure that companies do not unfairly raise prices under the new tax regime. “The mechanism has to be discussed to see how effective such an agency can be,” said a source. The Council is also expected to finalise the definition of “agriculture” to ensure agricultural products and farmers remain exempt from GST.
Source: Business Line
The Textile Association (India) Mumbai Unit is organising Seminar on “Opportunities in the Current Challenges in Weaving Sector” on 22nd April 2017 in Vapi Gujarat. The seminar aims to give an opportunity to the textile technologists to share their thoughts to meet the challenges and as such interaction will be highly productive and beneficial. TAI brings is organisng this seminar specially dedicated to weaving sector to address the technological challenges in weaving. This will be the right forum where the noted industry experts will not only be sharing their views but will also outline the forward path for the Indian textile industry. The subjects will cover right from the weaving preparatory to value addition keeping in mind the quality concepts of international standards and “Zero defect and Zero Effect” (ZED). The seminar will also cover the issues related to Govt. initiatives for helping the weaving sectors. The eminent industrialists reputed professionals and renowned experts from diverse fields of textiles have been invited to address the gathering. Topics to be covered during the seminar include: * History of Weaving – from Handloom to Auto Weaving * Preparatory Process for Efficient Weaving * Weaving Solution for Auto * High Tech Weaving * A checklist in Weaving to manufacture good quality fabrics * Energy Convention alternate source of Energy * Solar and Wind Energy * Humidification / Air Control * Govt. Policies &Strategies for Textile Industry During the seminar there will be a Panel Discussion on “How to upgrade Weaving Technology to make export target?” Panel will comprise experts from the weaving industry.
Source: Tecoya Trend
Thailand wants to work with India for conclusion of negotiations for the comprehensive free trade agreement which aims to promote economic cooperation between the two nations. Thailand Deputy Prime Minister Somkid Jatusripitak said “We really want to work with Indian government to have free trade agreement (FTA) together even though we had some obstacles in the past but I think we can keep that off.” The two countries have already abolished duties on 82 items under an ‘Early Harvest Scheme’ launched in 2004 which include products like fruits processed food gems and jewellery iron and steel auto parts and electronic goods. It was the initial phase of the proposed comprehensive FTA which is to be upgraded to a full fledged arrangement for reduction and elimination of duties on about 90 per cent of goods traded between the countries. The FTA would also cover opening up of trade in services an area of interest to India. Issues like significant cut in duties on number of products and movement of professionals are yet to be resolved by both sides. Jatusripitak said there is a need to accelerate the process of the FTA talks. India and Thailand are also members of the mega trade deal Regional Comprehensive Economic Partnership (RCEP). When asked about the progress of this pact he said “It is one of the best opportunities that we have and we are ready to join any kind of FTA agreement of the regional (nature).” (PTI)
Source : Tecoya Trend
Manufacturers and stakeholders in the textile industry have said that the problem of the sector goes beyond finance, adding that unless the fundamental issues of infrastructure and raw materials are addressed, no amount of bailout can revive the industry. The Chairman of the Gas Users Group of the Manufacturers Association of Nigeria, Dr. Michael Adebayo, who disclosed this in an interview with our correspondent on Wednesday, advised the government to tackle the issue of gas being paid for in dollars by manufacturers, adding that the amount spent on gas by operators in the industry had already wiped out their bottom line. He said, “Manufacturers spend $7.65 per standard cubic metre of gas while their counterparts in other parts of the world spend between $2.50 and $3 on the SCM. This alone has already rendered operators in the sector uncompetitive against manufacturers from the Asian countries that flood our markets with their cheap textile materials. “The government should place manufacturers under strategic industrial sector so that they will not have to pay so much for gas. Also, the practice of paying dollars instead of naira for gas in this recessed economy is taking a heavy toll on textile manufacturers, in view of the constant loss in the value of the naira when paired against the dollar.” Adebayo also gave lack of patronage as a major challenge facing textile manufacturers and urged the Federal Government to ensure that all government ministries, agencies and departments patronised local manufacturers of textile when procuring materials for uniforms and accessories. “Unless these issues are resolved, there is no amount of bailout that will help. The problem of the textile industry is not finance because, faced with these challenges, some of the operators who accessed government’s intervention funds in the past have been unable to pay back,” he said. The Federal Government has set aside the sum of N51bn in the 2017 budget for the revival of the textile sector. This is in addition to an earlier N50bn Textile Intervention Fund established by the Central Bank of Nigeria to revive the cotton, textile and garment sectors. But the Director-General of the Nigerian Textile Manufacturers Association, Mr. Hamman Kwajafa, said the N50bn did not go round the operators, disclosing that out of over 50 people who applied for the funds, only 15 were able to get it. Kwajafa admitted that the problem of the sector went beyond funding, adding that lack of raw materials was a major challenge. He suggested that as a way of out of the situation, the government should give practitioners a special window to access foreign exchange that they could use to import raw materials. In the same vein, the Economic Strategist at the Manufacturers Association of Nigeria, Mr. Ambrose Oruche, said that the major challenge faced by textile manufacturers in the country was the influx of cheap textile from China. He said as long as the textiles were allowed into the country, locally produced textile materials would remain uncompetitive because people would prefer to buy cheaper things due to their poor earnings.
Source: Punch.com
Snapping 2-day winning spreee against the American currency the Indian rupee dropped by 17 paise to close at 67.07 per dollar on fresh dollar demand from banks and importers despite weakness of dollar in the overseas market. However good foreign capital inflows coupled with sharp recovery in the equity market restricted the rupee’s loss against the dollar a forex dealer said. The rupee resumed lower at 66.94 per dollar as against the yesterday’s closing level of 66.90 at the Interbank Foreign Exchange market and dropped further to 67.09 per dollar before ending at 67.07 per dollar showing a loss of 17 paise or 0.25 per cent. The domestic currency had gained by 12 paise or 0.18 per cent in previous two days. It hovered between 66.9150 per dollar and 67.09 per dollar during the day. The dollar index was trading down by 0.29 per cent against a basket of six currencies in the late afternoon trade. In the overseas market the yen was stronger against its rival currencies today weakness in Tokyo stocks prompted investors to seek the perceived safety of the Japanese currency. The US dollar took a breather against its major rivals in early Asian trade after climbing to a one-month high as a run of upbeat US economic data rekindled expectations of an early rate hike by the Federal Meanwhile Foreign portfolio investors (FPIs) bought shares worth a net Rs 225.84 crs yesterday as per provisional data released by the stock exchanges. Meanwhile the Indian benchmark sensex rebounded by 145.71 points or 0.52 per cent to close at 28 301.27 today. In forward market today premium for dollar dropped on good receivings from exporters. The benchmark six-month premium payable in July fell to 143-145 from its previous level of 148-150 and far forward January 2018 contract also declined to 294-296 from Wednesday’s closing level of 299-301. The RBI fixed the reference rate for the dollar at 66.9468 and for the euro at 71.0239. In cross-currency trades the rupee turned lower against the pound sterling at 83.84/86 from 83.14/16 and also weakened against the Euro to settle at 71.28/30 from 70.59/ 61. The domestic currency dipped against the Japanese Yen to 58.96/98 per yen from 58.39/ 41 yesterday.
Source: Tecoya Trend
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$ 54.49 per barrel (bbl) on 16.02.2017. This is same price of US$ 54.49 per bbl on previous publishing day of 15.02.2017. In rupee terms, the price of Indian Basket increased to Rs. 3647.88 per bbl on 16.02.2017 as compared to Rs. 3646.31 per bbl on 15.02.2017. Rupee closed weaker at Rs. 66.95 per US$ on 16.02.2017 as compared to Rs. 66.92 per US$ on 15.02.2017. The table below gives details in this regard:
|
Particulars |
Unit |
Price on February 16, 2017 (Previous trading day i.e. 15.02.2017) |
Pricing Fortnight for 16.02.2017 (Jan 28, 2017 to Feb 13, 2017) |
|
Crude Oil (Indian Basket) |
($/bbl) |
54.49 (54.49) |
54.67 |
|
(Rs/bbl |
3647.88 (3646.31) |
3683.12 |
|
|
Exchange Rate |
(Rs/$) |
66.95 (66.92) |
67.37 |
Source: PIB
As the debate over the Genetically Modified crop, Bt Cotton rages in India, Burkina Faso, a small West African nation has completely phased out the cultivation of Bt Cotton which once occupied close to 2.8 lakh hectares in the country. In India, Bt Cotton occupies close to 95 per cent of the 105 lakh hectares under cotton cultivation. Speaking to media in Hyderabad on Thursday, a group of agricultural activists from Coalition for the Protection of African Genetic Heritage (COPAGEN) explained how the turnaround came about in the African nation. Kadidja Kone, Regional Focal Point for COPAGEN said like India even in Burkina Faso Bt Cotton had a grand welcome in 2003 as it proved to be a better seed than local varieties. By 2012 close to 70% of land under cotton was occupied by Bt Cotton. However, as the years progressed, she said, farmers started realising that Bt Cotton yields were falling and the input costs rising drastically. A research commissioned in Burkina Faso involving 202 cotton farmers, modelled on lines of Telangana based Deccan Development Society threw out some shocking results including the fact that while Bt Cotton priced 30 times higher than local varieties of cotton seeds, its yields were 7% lower. Kone said that when the cotton farmers were made aware of this data they themselves started showing less interest in cultivating it which started getting slowly phased out. Another reason behind the wipe out is the centralised seed distribution and cotton procurement in the country. Kone said there are three main cotton companies there which sell seeds and buy produced cotton. The companies started realising that fibre of Bt Cotton is of poorer quality and is fetching a very low price. As a result, the cotton companies stopped promoting Bt Cotton. The three companies have filed a court case asking for 74 million Euros as compensation from the seed company Monsanto.
Source: The New Indian Express
The textile and apparel industry in Honduras is going through a significant progress to become one of the top textile and apparel producers and exporters in the world. Over the past ten years, the Central American country has achieved its leading position as the second largest exporter of textiles in the region, after Mexico. But the government of Honduras is clearly not satisfied yet as a new ambitious development plan has been launched to strengthen the country’s competitiveness in the global textile market. According to data from Honduran Maquiladora Association (AHM), Honduras’ exports of textiles and clothing totalled about $4.1 billion in 2016. Following the newly launched development plan and government support, the total export value of Honduras’ textile products is expected to grow by 10% in 2017, reaching a total $4.5 billion. The US, Europe and Canada will remain as some of the largest export destinations for Honduras. Honduras has recently launched ‘Honduras 2020’, which is a $3.4 billion project for boosting the country’s textile and apparel industry. The project aims to double Honduras’ apparel exports to $74 billion by the year of 2020, meaning that Honduras will become the 5th largest clothing supplier for the US, up from its current position at 7th. The project is set to generate over 200,000 new jobs in the sector, and there will be additional funds for training more skilled workers, establishing renewable energy facilities and building logistics infrastructure. Meanwhile, the government of Honduras is also committed to improve textile industry workers’ condition and to lower its impact on the environment. Sustainability and innovation will be the new main focuses for Honduras to develop its textile and apparel sector. A big investment has been placed on technology to ensure the sustainability of all manufacturing processes in the textile industry, from saving water in fabric dyeing process to using recycled fibres in productions. The Honduran government believes that the country’s location in the centre of the Americas gives Honduras’ textile industry a competitive advantage – a preferential access to the world’s largest markets including the United States and Europe. This geographic proximity allows Honduras to have shorter times and lower costs to ship its textile and apparel products to major ports in the United States and Europe, compared to any other Asian textile exporters. Another good news for Honduras’ textile and apparel exports might be the US president Donald Trump formally withdrawing the US from the Trans-Pacific Partnership (TPP). The US leaving the TPP means the tax-free trading of textile and apparel products between the US and major Asian textile producers, such as Malaysia and Vietnam, will no longer exist. Honduras could benefit from less competition with Asian textile suppliers when exporting textile and apparel products to the US, which is also the largest export destination for Honduras textile and apparel industry.
Source: Honduran Maquiladora Association (AHM)
The textile and apparel industry in Mexico is a diversified and integrated sector that has been growing stronger in the past few years. As one of the most important sources for the country’s GDP and employment, the textile and apparel industry in Mexico also plays a significant role in exports, especially exports with its neighbour and largest export destination – the US. So far, Mexico’s textile and apparel industry is showing no signs of slowing down. However, the industry might face huge uncertainty in near future, due to its trading relationship with the US. Today, Mexico’s textile and apparel industry accounts for 6% of the country’s total GDP and employs over 415,000 workers, representing about 20% of all manufacturing employment in Mexico. Mexico’s textile and apparel export value has surpassed $7 billion a year since 2013 with around 2.4% annual growth rate. Clothes, cotton and synthetic and artificial yarns are some of the most popular export categories for Mexico’s textile industry. Its fabrics with textured polyester dyes are also in demand globally, and the county is manufacturing and exporting technical textiles such as upholstery fabrics and industrial fabrics for the construction and automotive industries. Textile machinery and equipment is another strong sector, as a focus on technology and innovation is one of the strategies for Mexican textile and apparel manufacturers to survive competition from other developing nations. Mexico’s textile and apparel industry is favoured by the US market, due to its competitive labour costs and geographic proximity to the US. US textile companies supply textiles and fibres to Mexico’s in-bond processing factories (known as maquilas or maquiladoras) which receive preferential fiscal and trade treatment. The maquiladoras then re-export these inputs back to the US or to the world after processing in the form of finished garments. Trade activity between Mexico and the US had a big increase after the signing of NAFTA, resulting in a $61 billion trade deficit with Mexico in 2016. Mexico’s textile and apparel industry has also benefited from several trade agreements with some of the biggest markets in the world, including: NAFTA: The North American Free Trade Agreement is by far the most important trading deal between Mexico and the US. Mexico has been one of the largest US suppliers for textile and apparel products, ahead of China, Hong Kong and Taiwan. MEXICO-EU FTA: FTA enables closer economic co-operation between Mexico and the EU. This will provide EU Companies preferential access to the major markets in North and South America through Mexico’s extended FTA network. MAQUILA PROGRAM: Mexico initiated its maquila program to encourage the development of export manufacturing industries by waiving import duties on capital goods and material inputs used in the manufacture of products for export. TRANS PACIFIC STRATEGIC ECONOMIC PARTNESRSHIP AGREEMENT: TPP is a free trade agreement with the aim of integrating the economies of the Asia Pacific region. Currently, it includes 11 member countries: Vietnam, Canada, Mexico, Peru, Chile, Brunei, Singapore, Malaysia, Australia, New Zealand and Japan. The US withdrew from the agreement after Trump became president. However, Donald Trump’s policy to impose a 20% or other duty hike on exports from Mexico and the potential change of the US-Mexico trade relationship are threatening Mexico’s textile and apparel industry. Although Mexico has already taken steps to strengthen its economy, lessen its reliance on textile trade with the US, and strengthen existing relationships with other trade partners, such as India, China and Canada, the near future of Mexico’s textile and apparel industry is still a little murky and unpredictable.
Source: Mexbiznews
A leading Sri Lankan textile manufacturer, South Asia Textiles Limited (SATL), specializing in producing exceptional quality weft knitted fabric and polar fleece. In order to guard its competitive position from potential regional threats, recently designated MTI Consulting to conduct a detailed review of their current position and develop a long term strategic business plan. South Asia Textiles having understood the importance of responding effectively and profitably to the fast changing dynamics of the industry, the need to identify and chart its strategic direction becomes essential. Hilmy Cader, CEO of MTI said that with the implementation of this project, the company has opted for a proactive stance and is equipping themselves internally to face the changes and challenges that they may encounter in the future. MTI in order to assist South Asia Textiles, will employ its internationally acclaimed 8S Model framework to execute the project. This framework would engage the management team through a highly inclusive process of strategic planning consisting of eight stages namely; scope, scan, sights, strategy, structure, staff, sustainability/social responsibility and systems. This project will also encompass South Asia Textiles’ future direction in terms of achieving significant growth while creating sustainable competitive advantage and maintaining its dominance within the dynamic textile industry. South Asia Textiles Limited, which is an Ultra-modern Weft Knit Manufacturing plant located in Pugoda , Sri Lanka, with the greater flexibility, capability and 700,000KG per month Capacity on offer the plant is able to cater to a wide variety of orders, be it dyed fabric, printed fabric, brushed/suede fabric or yam dyed fabric. SATL is supplying to worlds Best Clothing brands in Europe & USA.
Source: Yarns and fibres
The UK and Germany, Bangladesh's two major export destinations in the EU, are yet to lift the ban on direct cargo flights from Bangladesh even though the government claims safety measures at Hazrat Shahjalal International Airport have improved. Meanwhile, the ban has impacted shippers, exporters and freight forwarders as mandatory rescanning in third country has increased transportation costs. “Every time experts from the UK and Germany come, they say the same thing, that the security measures at the airport have improved significantly but more needs to be done,” said Rashed Khan Menon, minister for civil aviation and tourism. The ministry hired more manpower and enlisted British firm Redline Aviation Security in March last year to provide training on security control and scanning baggage. Six new screening machines will be installed at the airport next month, he said, adding that the civil aviation ministry is in the process of recruiting more staff. “Millions of dollars have already been spent,” he said, adding that he has been communicating with both the countries through the political and diplomatic channels but nothing seems to be working. “We are still continuing our efforts so that the ban is lifted as soon as possible,” Menon added. But aviation experts and exporters differ. The security measures taken by the government at the airport are not adequate to satisfy the UK and German experts and to meet the European security standards, said an exporter asking not to be named. “This is why the ban on direct cargo was not lifted by the UK and Germany. Security is a very important factor in the supply chain and no country compromises on it.” The exporter said there are shortages of screening machines and skilled manpower at the cargo village. The job of airport automation is yet to be done, said Mohammed Mansur, general secretary of Bangladesh Fruits, Vegetables and Allied Products Exporters' Association. “We keep hearing that the whole process would be automated soon but it is taking so long,” he said, adding that there is still a lack of many equipment needed to make the facility of international standards. Both the countries imposed the ban within a space of two months in the first half of last year -- and for the same reasons. The measures at the Dhaka airport could not guarantee a secure supply chain that meets the European regulations, they said. Consequently, cargoes bound for Germany and the UK are now re-screened at a third destination, preferably Dubai, Qatar, Thailand, Turkey, Kuwait and Bahrain. The additional step means the exporters have to work with the strictest of timelines to maintain the lead time: re-screening takes up an additional day or two. The foreign airlines too have hiked the freight charges by five cents a kilogram for cargoes from Bangladesh to Germany and the UK. In 2016, 29,779 tonnes of cargoes were sent by air to Germany, which is the highest, according to Bangladesh Freight Forwarders Association (BAFFA). To the UK, 13,969 tonnes were shipped. “The ban on direct cargo flights from Bangladesh to the UK and Germany had a disastrous effect on our exports,” said Nurul Amin, director of BAFFA. Bangladesh has a target to hit $50 billion in garment exports by 2021, but the continued ban to Germany and the UK would put a damper on the plan. The country exports more than $3 billion worth of garment items to the UK in a year and more than $5 billion to Germany.
Source: The Daily Star
Lorraine Chow Farmers across 10 states are suing Monsanto, alleging that the agrochemical company sold dicamba-tolerant cotton and soybean crops knowing that illegal spraying of the highly volatile and drift-prone herbicide would be inevitable. Steven W. Landers, et al v. Monsanto Company was filed on Jan. 26 in the United States District Court for the Eastern District of Missouri, Southeastern Division. Kansas City law firm Randles & Splittgerber filed on behalf of Steven and Deloris "Dee" Landers and similarly harmed farmers in 10 states—Alabama, Arkansas, Illinois, Kentucky, Minnesota, Mississippi, Missouri, North Carolina, Tennessee and Texas. The farmers seek damages for claims including negligence, strict liability, failure to warn, conspiracy, disgorgement of profits and punitive damages. According to a press release from the law firm, Steven and Dee Landers operate their family owned farms in New Madrid County, Missouri, and have been in business since 1976. The Landers claim that their farms have been greatly damaged by the illegal spraying of dicamba on Monsanto's Roundup Ready Xtend crops, which are genetically engineered to resist dicamba and Roundup (aka glyphosate). Bev Randles of Randles & Splittgerber told EcoWatch that the Landers' 1,550-acre farm primarily grows soybeans and corn. In 2016, they experienced dicamba damage on more than half of their crops and acreage, resulting in a reduction of their yields in approximately the same percentage, especially with respect to their soybeans. The farmers in the lawsuit allege that the biotech giant knowingly marketed its Xtend cotton and soybean seeds to farmers without any safe herbicide. The lawsuit claims that the company knew the only option purchasers would have to protect crops grown from those seeds would be to illegally spray dicamba to protect the crops from weeds. "Monsanto chose to sell these seeds before they could be safely cultivated," said Randles. "Monsanto's own advertising repeatedly describes its Xtend seeds and its accompanying herbicide as a 'system' intended to be used together. But when Monsanto failed to get approval to sell the herbicide, it recklessly chose to go ahead and sell the seeds regardless." "The inevitable result was farmers throughout the country used illegal and dangerous herbicides to try to protect the Xtend seeds. That inappropriate use of herbicides, which Monsanto knew would occur and encouraged, decimated hundreds of thousands of acres of crops nationwide," Randles added. Monsanto's rollout of its Xtend system has been marked by controversy ever since the company sold its Xtend cotton and soybeans several growing seasons before getting federal approval for the corresponding herbicide. Bollgard II XtendFlex cotton was introduced in 2015 and Roundup Ready 2 Xtend soybeans was introduced in 2016. However, the U.S. Environmental Protection Agency (EPA) only approved the corresponding herbicide, XtendiMax with VaporGrip Technology, in late 2016. The new weedkiller is a combination of dicamba and glyphosate and is meant to address the proliferation of "superweeds" that have grown resistant to glyphosate.
Source: Eco Watch
Talba Goni has been trying without luck to get government funds or loans to restart a textile plant in Kaduna, the former industrial heartland in northern Nigeria, that he was running until it closed almost 15 years ago. "We were not able to meet up with those conditions to access the funding ... the bureaucracy, you have to give this, you have to give that," he said. "There should be concessions, like the company income tax, a waiver for about 3-4 years." Most importantly, Goni is unable to get enough petrol to power the plant's generators as the major oil producing country grapples with fuel shortages due to its derelict refineries. "We can't operate without black oil (petrol), it's very expensive and also very scarce," he said. President Muhammadu Buhari hopes to revive the once flourishing textile and leather industries in northern Nigeria to end the country's dependence on oil exports and diversify Africa's biggest economy. But a collapse in vital oil revenues has pushed the West African nation into its first recession in 25 years, making it difficult to provide state loans or improve the erratic power supply that has led to closure of most plants. Adding further woes, a central bank decision to keep the naira currency at a high rate versus the dollar has deterred foreign investors fearing to get caught eventually in yet another devaluation. There have been some limited Chinese investments in recent years into what is left of Nigeria's leather and textile industry, but most plants have remained closed since throwing in the towel in the 1980s and 1990s. Goni said he had to fire 2,500 workers, joining an army of unemployed from which Boko Haram jihadists waging an insurgency in the northeast have been recruiting. "We are getting the people out of the woods," he said. "Once we are able to start the factory, we will solve a lot of this problem of unemployment."
Source: AOL
Talba Goni has been trying, without luck, to secure government funds or loans to restart a textile plant in Kaduna, the former industrial heartland in northern Nigeria, that he was running until it closed almost 15 years ago. “We were not able to meet up with those conditions to access the funding. … The bureaucracy, you have to give this, you have to give that,” he said. “There should be concessions, like the company income tax, a waiver for about three to four years.” Most importantly, Goni is unable to get enough petrol to power the plant’s generators, as the major oil-producing country is grappling with fuel shortages due to its derelict refineries. “We can’t operate without black oil [petrol]. It’s very expensive and also very scarce,” he said. President Muhammadu Buhari hopes to revive the once-flourishing textile and leather industries in northern Nigeria to end the country’s dependence on oil exports and diversify Africa’s biggest economy. But a collapse in vital oil revenues has pushed the West African nation into its first recession in 25 years, making it difficult to provide state loans or improve the erratic power supply that has led to the closure of most plants. Adding further woes, a central bank decision to keep the naira currency at a high rate versus the dollar has deterred foreign investors who fear they may eventually get caught in yet another devaluation.
Source: Yahoo News
