|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1254.94 |
USD/Ton |
-0.29% |
3/1/2017 |
|
VSF |
1254.94 |
USD/Ton |
-50.43% |
3/1/2017 |
|
ASF |
2153.40 |
USD/Ton |
0% |
3/1/2017 |
|
Polyester POY |
1283.31 |
USD/Ton |
-0.17% |
3/1/2017 |
|
Nylon FDY |
3637.50 |
USD/Ton |
0% |
3/1/2017 |
|
40D Spandex |
5092.50 |
USD/Ton |
1.45% |
3/1/2017 |
|
Polyester DTY |
3812.10 |
USD/Ton |
0% |
3/1/2017 |
|
Nylon POY |
5667.23 |
USD/Ton |
0% |
3/1/2017 |
|
Acrylic Top 3D |
1505.93 |
USD/Ton |
-0.48% |
3/1/2017 |
|
Polyester FDY |
3433.80 |
USD/Ton |
0% |
3/1/2017 |
|
Nylon DTY |
2400.75 |
USD/Ton |
4.43% |
3/1/2017 |
|
Viscose Long Filament |
1309.50 |
USD/Ton |
-17.43% |
3/1/2017 |
|
30S Spun Rayon Yarn |
3171.90 |
USD/Ton |
0% |
3/1/2017 |
|
32S Polyester Yarn |
1884.23 |
USD/Ton |
-0.38% |
3/1/2017 |
|
45S T/C Yarn |
2735.40 |
USD/Ton |
0% |
3/1/2017 |
|
40S Rayon Yarn |
2051.55 |
USD/Ton |
0% |
3/1/2017 |
|
T/R Yarn 65/35 32S |
2298.90 |
USD/Ton |
0% |
3/1/2017 |
|
45S Polyester Yarn |
3302.85 |
USD/Ton |
0% |
3/1/2017 |
|
T/C Yarn 65/35 32S |
2357.10 |
USD/Ton |
-1.22% |
3/1/2017 |
|
10S Denim Fabric |
1.35 |
USD/Meter |
0% |
3/1/2017 |
|
32S Twill Fabric |
0.84 |
USD/Meter |
0% |
3/1/2017 |
|
40S Combed Poplin |
1.18 |
USD/Meter |
0% |
3/1/2017 |
|
30S Rayon Fabric |
0.67 |
USD/Meter |
0% |
3/1/2017 |
|
45S T/C Fabric |
0.67 |
USD/Meter |
0% |
3/1/2017 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14557 USD dtd. 02/03/2017)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Fifteen Indian textile companies are participating in an international fashion and textile exhibition beginning here from today. "India has been an active participant of the Cairo Fashion and Tex - International Fashion and Textile Exhibition - every year. We believe that our cooperation in the textile sector is very important," Indias Ambassador to Egypt Sanjay Bhattacharyya said during a press conference today. The 60th edition of the International Fashion and Textile Exhibition "Cairo Fashion and Tex" will be held from March 2-5. The Ambassador said India is one of the largest producers of cotton in the world and that Indian cotton and textile are very popular internationally. The Indian pavilion at the exhibition is being organised by the Cotton Textile Export Promotion Council (TEXPROCIL) and sponsored by Government of India in association with the Embassy of India in Cairo. The participating Indian companies will showcase their latest range of yarn and fabrics, which will include suitings, shirting, dress materials and embroidered fabrics, high fashion fabrics, furnishing, home textiles, scarves, stoles, shawls and yarns of man-made fibre and their blends. The Ambassador said "the unique thing about the Indian textile sector is that India is able to supply both high and low end textile items either in small quantity or large volume." He also mentioned that the textile plants with modern machinery are managed by innovative professionals with the best designers and experts to keep with the modern trends constantly creating new effects, finishes and designs to give better textiles to the world. Being the worlds second largest producer of synthetic fibre and yarn, cotton, cellulosic fibre and silk, India exported around USD 297 million worth of textile and clothing products to Egypt during 2016. Cotton Yarn was the dominant production the export basket, which is valued at USD 143 million followed by manmade yarn fabrics valued at USD 105 million and cotton fabrics valued at USD 21 million. Shailesh Martis, the joint director of the Cotton Textile Export Promotion Council (TEXPROCIL) said that the delegation is participating this year to explore and test what the need of Egyptian market. "This year we are here to explore and test and next year we will bring the kind of products that Egypt require," he added.
Source: India Today
An Indian trade promotion company, Source India is holding the first and largest of its multi-sectoral businesses exhibition Source India Ghana 2017, in Accra, an initiative aiming at enriching bilateral relation and trade for mutual growth. The business delegation comprises of around 50 Indian companies visiting Ghana with the prime objective of improving the existing relations, establishing and developing new business with their Ghanaian as well as other West African counterparts and explore the scope of investment in Ghana. The Indian exhibitors represent sectors like Textile & Footwear, Engineering, Food processing & Technology, Auto Components, Healthcare & Pharmaceutical, Building and Construction etc. expecting Ghanaian counterparts comprising of manufacturers, importers, distributors, entrepreneurs, wholesalers and retailers for business engagement and investment tie ups. Ghana has been a well growing economy in the West African region with focus on trade enhancement and improving presence in the international trade. India-Ghana share a very warm and cordial relation. India has been supporting Ghana for development projects through Lines of Credit and grants amounting to around US$ 230 million. Indian investment in Ghana is around USD 998 Mn making India the 2nd largest foreign investor in Ghana. Apart Ghana was included as 1 of 9 West African countries under the GOI’s TEAM 9 initiative launched in 2004. The Indian exhibitors represent sectors like Engineering, Food processing & Technology, Auto Components, Healthcare & Pharmaceutical, Building and Construction, Textile & Footwear etc. expecting Ghanaian counterparts comprising of manufacturers, importers, distributors, entrepreneurs, wholesalers and retailers for business engagement and investment tie ups. Through Source India Ghana 2017, it is expected that the bilateral trade, investment and business relations will get strengthened which will have a positive impact on Ghanaian economy through Joint Venture initiatives, technology transfers thereby leading to employment generation, output growth and achieve import competitiveness. The programme is to afford Ghanaian businesses the opportunity to share ideas with their Indian counterparts started on Tuesday 28 February and it would come to an end on Thursday March 2 at the Accra International Conference Center.
Source: Yarns and fibres
NEW DELHI: A day after government data showed that the adverse impact of demonetisation on the economy was much lower than anticipated, two separate data releases on Wednesday indicated that companies and consumers are getting over any persisting cashcrunch concerns. The Nikkei India Manufacturing Purchasing Managers’ Index (PMI) rose to 50.7 in February from 50.4 in January, suggesting further improvement in manufacturing sentiment. Meanwhile, domestic passenger vehicle sales rose 9.5% in February from the year ago, marking the second successive month of recovery after a 14.4% rise in January. A PMI reading in excess of 50 indicates expansion and contraction below that. The index had signalled manufacturing contraction in December, the first full month after the November 8 demonetisation announcement, with a reading of 49.6. Data released on Tuesday showed the economy clocked 7% growth in the October-December quarter, confounding most experts who had pencilled in sharply lower growth due to the currency swap. For the full year, the economy is expected to report 7.1% growth, slower than 7.9% in FY16 but much better than the near-6.5% forecast by most independent experts. “Indian manufacturers benefited from recovering demand and raised production volumes in response to another expansion in inflows of new work,” said Pollyanna De Lima, economist at IHS Markit and author of the PMI report. The BSE Sensex ended 0.84% up on the back of good numbers in two days. CARE Ratings has raised its GDP forecast for FY17 to 7.1-7.2% from 6.75% earlier while ICRA sees it growing 7.1% from 6.8% earlier. The total volume of incoming new work increased for the second month in a row, whereas new export orders expanded for the first time since November 2016, PMI numbers showed. Rates of growth for both production and order books picked up marginally since January. On jobs front, the PMI survey showed a decline in manufacturing employment though the rate of job losses was marginal overall.
Source: Financial Express
India is expected to clock a GDP growth of 6.9 per cent this fiscal, which is likely to recover to 7.2 per cent in 2017-18, says a Bank of America Merrill Lynch (BofAML) report. "Looking ahead, we expect growth to end 2016-17 at 6.9 per cent and recover to 7.2 per cent in 2017-18, partly on base effects of the ongoing demonetisation shock," BofAML said in a research note, adding that this rate of growth is still higher than other BRICs. The government on February 28 pegged GDP growth at a higher-than-expected 7.1 per cent for the current fiscal. The Central Statistics Office (CSO) put the growth rate for October-December -- the quarter in which the government banned 86 per cent of the currency in circulation -- at 7 per cent, compared to 7.4 per cent in the second quarter and 7.2 per cent in the first. The global financial services major said rate cuts hold the key to recovery and expects a 50-70 bps reduction in lending rates by banks by September. "We expect bank lending rates to come off by 50-75 bps in the April-September slack industrial season with the RBI committing to push liquidity in the money market into neutral by March 2018," BofAML said. The report noted that rather than reforms, lending rates are needed for a cyclical recovery. "While reforms could push up potential over, say, five years, the immediate challenge is to get back to current potential growth (7 per cent BofAML estimate)," BofAML said. The report further said the key catalyst for recovery lies in RBI open market operations (OMOs) that will ease borrowing rates. "We assess RBI OMO at Rs 2,200 billion in 2017-18," it added. OMOs are market operations conducted by RBI by way of sale and purchase of government securities to and from the market with an objective to adjust the rupee liquidity conditions in the market on a durable basis. DRR ARD
Source: PTI
It will free farmers from the menace of middlemen Electronic trading of cotton under the e-National Agricultural Market (e-NAM), an online trading platform, began at the Khammam Agricultural Market Yard on Wednesday. After facing initial hiccups owing to resistance from a section of traders, the KAMC launched the e-NAM facilitating electronic trading in cotton. In all 12,457 bags of cotton belonging to 5,625 farmers were traded through e-NAM platform on Wednesday. Tight security arrangements were made at the market yard to ensure smooth conduct of the e-trading. The e-NAM facility was introduced in trading of green gram, red gram and maize in the market yard recently, the Agriculture Market Committee sources said. The online initiative is intended to free farmers from the menace of middlemen and enable them secure fair prices for their agriculture produce in a transparent manner. However, it initially met with opposition from certain quarters due to misconceptions over the electronic system. The officials concerned held a series of meetings with the farmers, traders and hamalis under the supervision of Joint Collector Vinay Krishna Reddy to sensitise them on the benefits of the e-NAM in the past couple of weeks. The Khammam market yard officials have drawn up plans to introduce the electronic trading system under the e-NAM for red chillies also very soon. Home 15 Indian companies participating in Cairo textile exhibition (Source: PTI, March 1, 2017) Cairo, Mar 1 (PTI) Fifteen Indian textile companies are participating in an international fashion and textile exhibition beginning here from tomorrow. "India has been an active participant of the Cairo Fashion and Tex - International Fashion and Textile Exhibition - every year. We believe that our cooperation in the textile sector is very important," Indias Ambassador to Egypt Sanjay Bhattacharyya said during a press conference today. The 60th edition of the International Fashion and Textile Exhibition "Cairo Fashion and Tex" will be held from March 2-5. The Ambassador said India is one of the largest producers of cotton in the world and that Indian cotton and textile are very popular internationally. The Indian pavilion at the exhibition is being organised by the Cotton Textile Export Promotion Council (TEXPROCIL) and sponsored by Government of India in association with the Embassy of India in Cairo. The participating Indian companies will showcase their latest range of yarn and fabrics, which will include suitings, shirting, dress materials and embroidered fabrics, high fashion fabrics, furnishing, home textiles, scarves, stoles, shawls and yarns of man-made fibre and their blends. The Ambassador said "the unique thing about the Indian textile sector is that India is able to supply both high and low end textile items either in small quantity or large volume." He also mentioned that the textile plants with modern machinery are managed by innovative professionals with the best designers and experts to keep with the modern trends constantly creating new effects, finishes and designs to give better textiles to the world. Being the worlds second largest producer of synthetic fibre and yarn, cotton, cellulosic fibre and silk, India exported around USD 297 million worth of textile and clothing products to Egypt during 2016. Cotton Yarn was the dominant production the export basket, which is valued at USD 143 million followed by manmade yarn fabrics valued at USD 105 million and cotton fabrics valued at USD 21 million. Shailesh Martis, the joint director of the Cotton Textile Export Promotion Council (TEXPROCIL) said that the delegation is participating this year to explore and test what the need of Egyptian market. "This year we are here to explore and test and next year we will bring the kind of products that Egypt require,"
Source: The Hindu
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$ 55.33 per barrel (bbl) on 01.03.2017. This was higher than the price of US$ 54.85 per bbl on previous publishing day of 28.02.2017. In rupee terms, the price of Indian Basket increased to Rs. 3698.40 per bbl on 01.03.2017 as compared to Rs. 3660.78 per bbl on 28.02.2017. Rupee closed weaker at Rs. 66.85 per US$ on 01.03.2017 as compared to Rs. 66.74 per US$ on 28.02.2017. The table below gives details in this regard:
|
Particulars |
Unit |
Price on March 01, 2017 (Previous trading day i.e. 28.02.2017) |
Pricing Fortnight for 01.03.2017 (Feb 14, 2017 to Feb 24, 2017) |
|
Crude Oil (Indian Basket) |
($/bbl) |
55.33 (54.85) |
54.93 |
|
(Rs/bbl |
3698.40 (3660.78) |
3677.56 |
|
|
Exchange Rate |
(Rs/$) |
66.85 (66.74) |
66.95 |
Source: PIB
MUMBAI: The rupee witnessed a reversal on Wednesday after three days of gains and ended lower by 13 paise to 66.82 against the American currency following fresh bouts of dollar demand from importers. Overall sentiment turned gloomy following hawkish comments from Federal Reserve officials overnight rekindled prospect of a rate hike later this month even as a stronger-than-expected quarterly economic growth of India failed to set forex market tone alight. A smart rebound in greenback overseas post US President Donald Trump's much-awaited speech also weighed on trade. In addition to the overwhelming demand for the greenback from corporates and banks, a steep jump in trade deficit also largely impacted the forex trade. The country's fiscal deficit touched Rs 5.64 lakh crore at the end of January, 105.7 per cent of the full-year target, mainly due to lower realisation of non-tax revenue. The government had budgeted a fiscal deficit of Rs 5,33,904 crore for the current fiscal ending March. India's economy expanded by 7 per cent in the third quarter of this financial year, belying fears that note ban would have severely impacted economic activity. The Central Statistics Office (CSO) has retained the growth projection for the current fiscal at 7.1 per cent, as projected in the first advance estimate in January and also marginally revised upwards the GDP estimates for the first and the second quarters to 7.2 per cent and 7.4 per cent, respectively. The domestic unit resumed lower at 66.73 from Tuesday's closing value of 66.69 at the Interbank Foreign Exchange (forex) market against the backdrop of overnight developments amid renewed dollar demand. It remained under immense pressure throughout the day and touched an intra-day low of 66.89 before ending at 66.82, showing a fall of 13 paise, or 0.19 per cent. Globally, the dollar rallied to multi-weeks high as investors cheered a potential boost from the economic policies of Trump. The US dollar index was trading firmly higher at 101.88 in late afternoon session. The RBI fixed the reference rate for the dollar at 66.8482 and for the euro at 70.5716. In cross-currency trade, the rupee also rebounded sharply against the British pound to finish at 82.42 from 82.87 and bounced back against the euro to settle at 70.36 as compared to 70.68 earlier. It also recouped against the Japanese Yen to close at 58.76 per 100 yens from 59.43 yesterday.
Source: Financial Express
DELHI: When Dipali B Goenka, chief executive officer and joint managing director of Welspun India, confesses that she took the 'Egyptian Cotton' issue quite seriously, it doesn't come as a surprise. Reason: the bedding and towel major lost over 30% of its market value after US retailer Target severed business ties last August alleging that Welspun had passed off cheap sheets as premium Egyptian cotton. Six months down the line, lessons have been learnt and Welspun has spun its way out of the crisis, claims Goenka. The company proactively engaged with its stakeholders, appointed global accounting firm EY to thoroughly examine the supply chain and took remedial steps including structural, procedural, people and technological measures, she informs. Apart from deploying a dedicated resource in Egypt for sourcing cotton, Welspun increased third-party assurances such as Gold Seal from Cotton Egypt Association, vendor audit and DNA tests. From a high of Rs 104.70 on August 16 last year, the scrip tumbled to Rs 46.70 on August 30 after the Egyptian cotton crisis hit the company. However, now it's clawing back to pre-crisis days. On February 23, it closed at Rs 91 on BSE. "We worked on RFID-based technology to track manufacturing process and reduce human intervention significantly," says Goenka, adding that apart from Target, all other global biggies, including JC Penny and Walmart, which pulled back Egyptian cotton sheets from stores, continue to work with the company. "Every fifth towel sold in US is made by Welspun, 17 of the world's top 30 retailers buy products from the company, and all customers continue to work with us except one," she says, adding that 34% of FY16 sales were contributed by innovative products. Take, for instance, its HygroCotton technology which traps the air in its core making terry towels bloom after every wash. The same technology in sheets helps regulate temperature naturally, which means bed sheets keep you cooler in summer and warmer in winter. Then there is Nanocore technology which prevents dust mites and other allergens from entering. Drylon, synthetic yarn technology, are bleach friendly and wrinkle resistance. "Innovations and technology has become an integral part of our DNA," she says. From being a commodity manufacturer to a creator of unique products and experience, Welspun has evolved as a technology company and filed for 27 global patents. The company recently launched SpinTales, a new line of products with patented augmented reality storytelling technology, for kids. By scanning the specified markers on the rug or duvet, using a tablet or smartphone, children can view characters in augmented re. In a country where brand differentiation in the home furnishing category is not well pronounced, marketers reckon that Welspun is trying to stand out of clutter. "Welspun has a strong product advantage and benefit differentiation," says Ashita Aggarwal, associate professor at SP Jain Institute of Management & Research. This is a first step towards changing the way consumers buy bedsheets and towels. The consumers, she points out, are no longer evaluating products based on price but choosing brands based on the promise and the benefit sought. While conceding that Egyptian cotton crisis affected the brand, Aggarwal reckons that the way it bounced back shows resilience. "They lost some business but saved the path to again build the equity they lost," she says. However, in spite of the fact that Welspun happens to be the largest bed and bath linen makers in the world with a revenue of Rs 1,500.8 crore for the December quarter - Trident and Indo Count are its closest competitors - Aggarwal contends that the company has to do a lot of catching up in terms of spreading awareness about its brands and technologically-superior products. Take, for instance, its premium bed and bath furnishing brand Spaces, which is largely perceived as a private label brand. While globally it's a big brand, the company needs to focus on domestic market. "It's better not to put all eggs in one basket," she says. Goenka, for her part, contends that the company has been doing its bit to spread awareness about the brand as well as its offerings. It has set up an interactive kiosk at Mumbai Airport where it displays patented products through a fun game. Apart from using traditional advertising media like print and magazine, the company has been engaging consumers through activities like meet-and-greet with celebrities and workshop with interior designers. "For the next financial year, we have bigger and more aggressive plans for the brand," she says. Looks like Goenka is giving linens making a high-tech spin to get Welspun back on target. Home Coimbatore powerloom owners to stop production on rising yarn prices (Source: DeccanChronicle, March 1, 2017) Strike will result in loss of business worth Rs 200 crore and production loss of 85 lakh metres daily. Powerloom industry in Malegaon also facing similar problems. Coimbatore: Powerloom owners in this city and nearby Tirupur District will stop production from Wednesday protesting against fluctuating yarn prices, which they claimed alleged has seriously profit margins. "The increase in yarn prices for the last few months has seriously affected the profit margin of powerloom owners, who have a total of over two lakh powerlooms in both districts," Velusamy, Secretary of the Powerloom Job Workers Association, said. The strike will result in loss of business worth Rs 200 crore and production loss of 85 lakh metres daily, affecting both domestic and export business, besides five lakh workers, he said. The owners--directly taking orders from cloth traders,job workers and also those on contract--also demanded that the Government bring down VAT on yarn from five per cent to two per cent to bring down yarn prices. They also sought a ban on export of waste cotton, which could help further decrease in prices. A delegation is already in Delhi to discuss the issue with the ministries concerned, Velusamy said.
Source: ET Bureau
The weavers of Patwa Toli in the Gaya district of Bihar manufacture two things in bulk: colourful textiles and engineers. While the former is their ancestral trade, the latter is apparently a product of recession. From a distance Patwa Toli is a riot of colours. Threads of highly toxic red, green and yellow water seeps through the sandy banks slowly weaving itself into the clear waters of the Falgu River, a tributary of the Ganga. Water : Textile plants are Dhaka’s water problem and also its solution Decades of effluents from dyeing, washing and pressing units have seeped deep into the groundwater of Patwa Toli and the Falgu River. The pollution has become so severe in the last two years that hand pumps in the village started dispensing multi-coloured water which gave off a strong stench, according to a report prepared by Sridhar Updhayay in June 2016, a medical officer of Gaya’s public health department. The report, which declared the groundwater of Patwa Toli “unfit for human consumption”, was sent to the civil surgeon (a senior doctor, not necessarily a surgeon, appointed by government in a district) for further action. The civil surgeon advised locals to stop drinking water from hand pumps and asked the district administration to bore deeper wells to access clean water. But the work hasn’t started yet. The poor suffer the most here as they have to drink this severely contaminated water. The severe pollution has affected the lives of many local people. Shehnaz Praveen, a housewife, confronts every government official visiting the locality to inspect the pollution that is forcing her to walk for an hour further to fetch drinking water. “I have to wake up an hour earlier to walk and bring one bucket of fresh water from a nearby locality. Even a glass of this hand pump water makes me and my children sick,” she says. For Shehnaz Praveen, the polluted water is very difficult to avoid. Image: Alok Gupta via The Third Pole Those who cannot spend an extra hour to fetch fresh water often end up at the clinic of Md Shafeeq. The doctor refuses to answer questions about his medical qualifications, but his surgery is crowed with people since he only charges INR 20 per patient (USD 0.30). “Almost everyone in the locality is a victim of water pollution. A majority of people suffer from liver and kidney diseases,” he says. Wealthy power loom owners avoid these health problems by using water purifiers or buying bottled water, Shafeeq claims. “The poor suffer the most here as they have to drink this severely contaminated water,” he says. Kaushalendra Narayan, district president of the Swabhiman party, a political party leading the protest against pollution, says that there are nearly 12,000 Muslims living in Pehani, the locality of Patwa Toli. They mostly live in poverty and are the major victims of underground water pollution. “Hand pumps are the only source of potable water for these families. They do not have financial capacity to buy water or water purifiers,” Narayan claims. Groundwater pollution has not spared the mosque where tap water has turned yellow with a strong stench. The Swabhiman party sent the medical report to Bihar State Pollution Control Board (BSPCB) demanding they take action. S Chandrasekar, member secretary of the Board told thethirdpole.net that chemicals from the dyeing and bleaching units of Patwa Toli are extremely dangerous. “We fear that such unscientific disposal of effluent from dyeing unit might cause irreversible damage to Falgu River and also groundwater of Patwa Toli.” He also adds, “Naturally present arsenic in the groundwater has further aggravated the groundwater pollution.” Closure and unemployment. In response to intensifying protests and massive pollution, the BSPCB directed the Gaya district administration to immediately close all unregistered dyeing and polluting units on June 15 last year. Shutting down dyeing plants has led to mass unemployment. With barely 100 registered power looms in Patwatoli, around 12,000 units came to a standstill, leaving nearly 60,000 people out of work. “We have seen many threads of life including recession, struggle and prosperity but we have got through them. But this time, it’s difficult,” says Gopal Patwa, president of the Bihar Bunkar Kalyan Sangh, an association of weavers. He claims the district administration and pollution board are indulging in coercive measures instead of providing a real solution.
Source: Eco Business
Telecom Secretary J S Deepak was on Wednesday named India's next Ambassador to the World Trade Organisation (WTO) from June this year. A 1982 batch IAS officer from Uttar Pradesh, Deepak, who is at present attending the World Mobile Congress (WMC) at Barcelona, has been shifted with "immediate effect" from the telecom ministry and has been made Officer on Special Duty in the commerce department, an official order said. During his earlier stint in the Commerce Ministry, he was India's chief negotiator at the WTO and for the Regional Comprehensive Economic Partnership (RCEP) agreement, the mega Free Trade Agreement being negotiated by 16 countries. The WTO is a global international organisation dealing with the rules of trade between nations. India has been pushing for a trade facilitation agreement (TFA) in services at WTO which has 164 member countries. The WTO's trade facilitation pact in goods came into force on February 22. According to the official order, Deepak has been appointed the OSD in the Department of Commerce after the government upgraded this post from Director to Secretary. He will be functioning as OSD till May 31 this year, the order of Appointments Committee of Cabinet, headed by the Prime Minister, Narendra Modi, said. The order also named him as India's Ambassador/Permanent Representative of India to the Geneva-based WTO from June 1 till the date of his superannuation which is July 31 next year. Deepak is credited with successfully conducting the first ever e-auction of spectrum in 2010 that fetched government over Rs 1.06 lakh crore in 2010, while also setting the roadmap for future auctions. An MBA degree holder from Indian Institute of Management (IIM) Ahmedabad, Deepak has worked as consultant with The Policy Project, Washington DC, a consortium of US-based Research Triangle Institute and Johns Hopkins University, to develop population and health policies for various countries and states in India.
Source: PTI
Mexico will continue to seek investment and export opportunities in China, Foreign Minister Luis Videgaray said on Tuesday. In a Senate hearing on Mexico's fraught relationship with the United States, Videgaray reassured the assembly of 280 lawmakers that Mexico is looking to bolster ties with China. Mexico and China have "very important trade ties," stressed Videgaray, "especially due to Mexico's imports from China, (which amount to) nearly $70 billion." One of Mexico's main objectives is to achieve greater trade balance with China "by increasing our exports to that friendly country, with which we have a comprehensive strategic partnership established in 2013, following Chinese President Xi Jinping's state visit to our country," said Videgaray. For Mexico, China presents "a significant opportunity to attract investment in infrastructure, manufacturing or financial sectors," said the minister. "We will continue on that path, we will continue to get closer to China, we will continue to seek investment and we will continue to expand opportunities so that Mexican exporters can increase their access to that big Asian market," said Videgaray. In January, Mexico's President Enrique Pena Nieto unveiled new foreign policy guidelines that called for diversifying trade ties with Latin America, Europe, Asia and Africa, given the Trump administration's more hostile position towards trade, especially with neighboring Mexico. "Within (the area of) foreign policy, now more than ever there is an urgent need to diversify our ties with the outside beyond North America, especially our economic, trade and investment ties," said Videgaray. To that end, "certainly the most successful initiative has been the Pacific Alliance," said the minister, referring to the Latin American trade bloc designed to boost trade with China and other Asian nations. He added "We will continue to work closely with other member countries," referring to Colombia, Peru and Chile. The Senate hearing comes as Mexico prepares to renegotiate the North American Free Trade Agreement (NAFTA) with the United States. Trump insists the two-decade agreement has shifted jobs from the United States to Mexico, where US manufacturers have built assembly plants to take advantage of lower wages and cheaper operational costs. Trump also withdrew the United States from the Trans-Pacific Partnership (TPP), a wide-ranging trade deal promoted by his predecessor. Despite the withdrawal of the United States from the TPP, Mexico, among the member countries who back the accord, wants to keep it alive. "It is a very important market for Mexico, a highly potential market for Mexican exports, and we want to continue to advance along that path," said Videgaray. The discussions with countries that comprise the TPP, particularly Australia, New Zealand, Malaysia or Singapore, "can be bilateral or through a subgroup of countries," he added. Mexico believes it is better to have "multilateral institutions that guarantee peace, promote development, protect the environment or protect human rights," said the minister. On those grounds, Mexico affirms its commitment to the United Nations and other multilateral organizations, said Videgaray. "The fierce nationalism that is springing up in certain lands undermines and threatens the multilateral structure," he said, referring to the nationalist fervor that brought Trump to power in the United States and has buoyed right-wing politicians in Europe and other countries.
Source: China Daily
The Chinese government is expected to start sales from its cotton reserves on the sixth of this month and to continue offering around 30,000 tons a day until the end of August 2017. More cotton may be put up for auction if sales are strong and market prices rise. Last year, around 2.6 million tons were sold through the end of September 2016. Assuming a similar volume is sold this year, the total volume held by the Chinese government will reach 6 million tons by the end of 2016/17. China’s total stocks, including those in the private sector, are forecast to reach 9.3 million tons at the end of 2016/17, accounting for 53% of world stocks. World ending stocks are expected to decline by 7% to 17.9 million tons in 2016/17. In 2017/18, world cotton consumption is projected to exceed production by 1.2 million tons and stocks are expected to decline for the third consecutive season to 16.7 million tons. China’s ending stocks could fall by 19% to 7.5 million tons, accounting for 45% of world stocks at the end of 2017/18. This would mark the first season since 2011/12 that China’s stocks account for less than half of world inventories. World ending stocks outside of China are forecast to grow by 7% to 8 million tons, which could place downward pressure on prices later this season. Global cotton production is forecast to grow by 23.1 million tons on a planted area of 30.4 million hectares in 2017/18. India’s cotton production is projected to rise by 2% to 5.9 million tons, as area expands by 7% to 11.2 million hectares. China’s cotton production may increase by 2% to 4.8 million tons, but will greatly depend on whether a subsidy is provided this year. While high cotton prices relative to competing crops is likely to lead to a large increase in planted area expected in the United States in 2017/18, production is forecast to rise by just 1% to 3.7 million tons. Assuming normal weather patterns, the harvested area is projected to expand by 3% to just under 4 million hectares. Pakistan’s cotton production is forecast to grow by 11% to 1.9 million tons. Its cotton area is projected to expand by 3% to 2.5 million hectares as high prices this season encourage farmers to plant, and the average yield may grow by 8% to 736 kg/ha as the crop recovers from pest pressure. After declining by 1% to 24 million tons in in 2015/16, world cotton consumption is expected to remain stable in 2016/17. Given the strong demand this season and anticipated world economic growth in 2017 and 2018, world mill use is forecast to increase by 1% to 24.3 million tons. China’s consumption and share in the world total declined continuously from 2010/11 to 2015/16, when it reached 7.4 million tons. While its mill use is forecast to grow by 2% to 7.6 million tons in 2016/17 and by 1% to 7.7 million tons in 2017/18, its world share of cotton consumption is likely to remain at 30%. Mill use in India is projected to decline by 3% to 5.1 million tons in 2016/17, but is forecast to recover by 1% to 5.2 million tons in 2017/18. Consumption in Bangladesh continues to grow due to strong textile exports, with its mill use likely to rise by 5% to 1.5 million tons in 2017/18. Mill use in Vietnam has more than doubled in the last five years from around 500,000 tons in 2012/13 to an expected 1.2 million tons in 2017/18. World trade is expected to expand by 3% to 8 million tons in 2017/18. China’s import volume is expected to rise by 11% to 1.1 million tons in 2017/18 as its mill use continues to outpace its production. Bangladesh’s imports are projected to rise by 3% to 1.5 million tons in 2017/18, while Vietnam’s imports are forecast to increase by by 7% to 1.24 million tons. The United States is expected to remain the world’s largest exporter and its volume is forecast to rise by 5% to 2.9 million tons in 2017/18. Exports from India, the world’s second largest exporter, are projected to grow by 3% to 990,000 tons. WORLD COTTON SUPPLY AND DISTRIBUTION 2015/16 2016/17 2017/18 2015/16 2016/17 2017/18 Changes from previous month Million Tons Million Tons Production 21.03 22.69 23.11 -0.04 -0.16 -0.28 Consumption 24.13 24.05 24.33 -0.01 -0.03 0.05 Imports 7.54 7.85 8.05 0.00 0.09 -0.13 Exports 7.53 7.85 8.05 -0.02 0.09 -0.13 Ending Stocks 19.25 17.88 16.66 0.00 -0.14 -0.47 Cotlook A Index* 70 77 *The price projection for 2016/17 is based on the ending stocks/consumption ratio in the world-less-China in 2014/15 (estimate), 2015/16 (estimate) and in 2016/17 (projection); on the ratio of Chinese net imports to world imports in 2015/16 (estimate) and 2016/17 (projection). The price projection is the mid-point of the 95% confidence interval: 70 cts/lb to 83 cts/lb.
Source: ICAC.org
The Manufacturing Purchasing Managers’ Index (PMI) stood at 44.6 index points in February 2017, indicating decline in the manufacturing sector for two consecutive months after an incidence of expansion in December 2016. The PMI is an indicator of the economic health of the manufacturing sector. The PMI is based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment. According to the PMI report for February 2017 released by the Central Bank of Nigeria (CBN) yesterday, 14 of the 16 sub-sectors reported decline in the review month in the following order: transportation equipment; paper products; electrical equipment; printing & related support activities; fabricated metal products; chemical & pharmaceutical products; furniture & related products; cement; plastics & rubber products; petroleum & coal products; textile, apparel, leather & footwear; computer & electronic products; nonmetallic mineral products and primary metal. But the appliances & components and food, beverage & tobacco products sub-sectors reported expansion in the review period. Similarly, the production level index for manufacturing sector contracted in February 2017. The index at 45.2 points indicated a decline in production level when compared to the 51.3 points in the previous month. Also, 12 manufacturing sub-sectors recorded declines in production level during the review month in the following order: electrical equipment; paper products; transportation equipment; chemical & pharmaceutical products; plastics & rubber products; furniture & related products; fabricated metal products; printing & related support activities; computer & electronic products; primary metal; textile, apparel, leather & footwear and cement. The petroleum & coal products sub-sector remained unchanged, while the appliances & components; food, beverage & tobacco products and nonmetallic mineral products recorded growth in production.
Source: This DayLive
PESHAWAR: The Peshawar High Court (PHC) on Wednesday declared the federal government’s decision to recover cotton cess from textile mills in Khyber Pakhtunkhwa (K-P) as null and void, observing that the prime minister and the federal cabinet could not impose any tax without parliament’s approval. A PHC division bench comprising Justice Waqar Ahmad Seth and Justice Ghazanfar Ali passed the order while hearing six petitions filed by the K-P zone of All Pakistan Textile Mills Association through their attorney Qazi Ghulam Dastagir. Arguing before the bench, Dastagir said under Section 3 of Cotton Cess Act 1913 the cess could apply only if the raw materials were produced in the country. “As the raw materials are being imported, the cess cannot be imposed under the law,” he said. Citing the Cotton Rules 1950, the counsel said the tax could be imposed in cases where there was an increase in production of cotton and government had enough quantity that could meet local need while leaving stock for export. He said such tax could not be imposed on cotton bales imported from different countries under the act. Dastagir contended that in 2012 the then prime minister amended Cotton Rules 1950 and imposed tax on import of cotton worth Rs100 per bale but left section 3 untouched. “No amendment in section 3 of the Act renders the recovery of cotton cess illegal,” he argued. Citing a judgment of the apex court, he said the Supreme Court of Pakistan has recently ruled that the prime minister could not impose any kind of tax without approval of parliament, making it biding on the PM to get approval from parliament for amending the existing laws if he wanted to impose taxes. “Besides, the revenue generated through cotton cess is being spent on cotton research which has become a provincial subject after the 18th Amendment,” he argued. He contended that Central Cotton Committee and Cotton Research Institution did not exist in the K-P and therefore recovery of tax was illegal and unconstitutional. Attorney representing the Directorate of Cotton Cess and Central Cotton Committee argued that the exemption given to traders under Section 3 of the Act has been withdrawn after which the tax was imposed throughout the country. Justice Seth asked the attorney if there was any law that was amended only by the PM without the approval of parliament and imposed new taxes. The judge asked how the federal government could recover cess when research on cotton was devolved to provinces after the 18th Amendment. After hearing arguments of both parties, the PHC bench declared the federal government’s decision to recover cotton cess as null and void.
Source: Express Tribune
At a consultation session on the free trade agreement with Turkey from February 20-25, 2017, the Vietnamese Ministry of Industry and Trade (MOIT) asked the Turkish side to consider and recognise Vietnam’s market economy and minimise the application of trade defence measures against Vietnamese goods. The MOIT expressed concern that Turkey’s increasing application of trade defence measures against Vietnam’s export items in recent times has been adversely affecting trade exchange between the two countries. The Vietnam Competition Authority on February 28 revealed that Turkey has initiated anti-tax avoidance and anti-dumping investigations over partially oriented yarn (POY) imported from a number of countries, including Vietnam. Accordingly, POY items imported from China, India, Malaysia, Indonesia, Thailand, Chinese Taipei and Vietnam in the period of January 1, 2010 - December 31, 2016 will be put under investigation. POY is mainly used in texturizing to make textured yarn, also known as Polyester Drawn Textured Yarn (DTY) coded HS 5402.33. Earlier, Turkey decided to impose anti-dumping duty of between 34.81%-72.56% on Vietnam’s polyester yarn coded HS 5402.33. Turkey is one of Vietnam’s largest trade partners in West Asia. Two-way trade reached US$1.5 billion in 2016, with Vietnam exporting over US$1.33 billion worth of goods and importing approximately US$170 million worth of commodities. By the end of 2016, Turkey was the 27th largest foreign investor of 116 countries and territories investing in Vietnam, with total registered capital of US$704.3 million. Many Turkish businesses are currently interested in the Vietnamese market and are actively exploring and expanding cooperation with Vietnamese partners.
Source: VietNamNet.
Speed to market, a vertical supply chain and strong relationships make Turkey a prime sourcing location. The Turkish economy is heavily dependent on the fashion industry. Market research firm Euromonitor reports that textiles accounted for the greatest share (18.5%) of total goods exported from Turkey in 2015. In monetary terms, the value of clothing exported reached US$ 16.8 billion (£13.4 billion) in 2015, figures from the Turkish Ministry of Economy show. Although the country has faced political upheaval and has been subject to the terrorist activities that are affecting many countries across the world, its focus on supplying fashion to Britain and further afield shows no sign of abating. "Turkey is a crucial market for many UK fashion brands and retailers, whose fasttrack and capsule collections are dependent on very short lead times and high flexibility from suppliers and factories," explains Peter Rinnebach, senior manager at global consultancy firm Kurt Salmon, part of Accenture Strategy. Although more expensive than their counterparts in Asia, Turkish manufacturers can offer faster delivery times and the flexibility to repeat in season. Asia cannot compete with Turkey's close proximity to the UK and Europe, which allows buyers to quickly make repeat orders on products that are flying off the rails or to quickly make changes - for example, trying a new pattern or a new colourway - to existing designs. "While Turkey has a higher level of production costs compared to typical Far East sourcing destinations, it does offer a favourable exchange rate," adds Stephen Taylor, senior manager at Kurt Salmon. "Overall, the higher production cost in Turkey compared with the Far East can be levelled out by the benefits of shorter timelines and faster reactivity to market developments." This is echoed by Cem Altan, board member of textile industry body Istanbul Apparel Exporters' Association and managing director of Istanbul-based jersey garment manufacturer Aycem Tekstil, "With Turkey, brands don't have to order big quantities that they need to keep in the stock cupboard," he says. "Brands can make small orders and repeat on styles. They don't have to carry extra stock. They don't have to commit, so instead of ordering 20,000 pieces of a garment they can try 5,000 instead." And product can be turned around quickly, he adds, "Orders can be placed and samples can be received five to seven days later." Quick turnaround is one of the reasons retailer Asos has been manufacturing its own label in Turkey for 10 years, soon after the publicly listed company launched its own label of products. "The key factor to sourcing from Turkey is speed to market," says Asos sourcing director Simon Platts. "The ability to place small through to larger-scale orders gives flexibility, and the ability to trial new products and trends, and be quick to market with these." There are other advantages, explains Karen Millen production director Fay Tear, "Speed to market is absolutely an advantage, but we plan our collections up to nine months in advance of delivery, thus all the Far Eastern and European product gets delivered together for the relevant package or retail month." "But if and when we repeat, a denim supplier, for example, is able to get product into stores much quicker than the Far East and the current exchange rates means they are very competitive at present." Furthermore, Turkey offers a well-developed supply chain, meaning buyers can find most of the fabrics, washing and embellishment needed for their garment requirements within the country, well known for its established textiles and fashion clothing manufacturing industry. "Turkey can offer customers vertical manufacturing capability, which makes a real difference in delivery times," says Kurt Salmon's Rinnebach. "In addition to garment production, it has a strong heritage in textiles - it remains a top 10 producer of cotton, wool and polyester - and has fabric and knit production and finishing capability." Breaking it down, Turkey exported US$ 8.9 billion knitted garments in 2015, US$ 5.9 billion in woven readywear and US$ 1.9 billion in readymade clothing, figures from the Ministry of Economy indicate. Platts says that over the past five years Asos has increasingly sourced a wider range of products in Turkey, leading to growth in the overall percentage of its production in the country. The retailer manufactures a range of clothing from basic jersey through to heavily embellished denim-washed products in and around Istanbul. Its ability to produce a diverse range of products is one of the advantages of manufacturing there, says Platt, "The production capabilities are wide and the ability to understand and accommodate garments requiring quality and high fashion content are plentiful. There are manufacturers for denim, jersey, knitwear, tailoring, outerwear, swimwear, underwear, lingerie and many accessory types, including bags. It also has the specialist capabilities the supply base offers, with washing, embellishment and printing being key." As Turkish manufacturers are capable of producing a wide range of textiles and finishes, everything for garment production can be produced in the one country, providing a smoother and easier sourcing journey. "You don't need to import from other countries," says Altan, who champions the quality it offers compared with other regions. "The Far East has a completely different offer. It's a cheap market - here we offer value-added garments. The quality is better than the Far East. And we have reliable factories and deliver on time and deliver quality." Karen Millen, which has a longstanding relationship of almost 20 years with Turkey, produces around 30% of its European clothing in the country. Turkish product is focused on tailoring, denim and a small amount of leather, Tear explains, "For tailoring, they have a very good tailored 'handwriting', which gives Karen Millen the clean, stamped-out, structured look. Our tailoring factories are cut, make, trim (CMT) which means we provide the patterns, fabric and trims, all the development work is completed here at Paul Street (Karen Millen's headquarters in London), and they manufacture the product. For the denim, they have good Turkish denim mills, which give us premium denim." Turkey not only offers a good quality workforce, but it is also attractive for buyers geographically. "Turkey is close to the UK and other European countries," says Altan. "You can fly to Turkey and do business in the same day." Tear says producing in Turkey enables the team to visit regularly for relatively little cost, "Our roving quality control executives will visit the factories on a regular basis to ensure the production is maintained to the Karen Millen quality standards and ensure there aren't any production issues. It is easy to jump on a plane and visit each supplier to resolve the issue quickly and productively." As well as being a close hub to the UK, many talk of a close relationship between Turkish manufacturers and brands. "If they ask us to stock a fabric for them, if they want a different colour, we will quickly dye it and send it in three weeks' time so it's ready for the shop floor," explains Altan. Taylor also believes the country enforces strict controls when it comes to what it is producing. "Turkey takes a proactive stance on environmental concerns in the supply chain," says Taylor. "It is one of the few countries to mandate all textile manufacturers to comply with internationally accepted environmental standards, which is another plus," he says. The industry also asserts that its record on corporate social responsibility is improving. Karen Millen works closely with its four Istanbul-based suppliers, as Tear explains, "Our suppliers are an extension of our brand and we believe in working in partnership with them, so most of our relationships are direct with the suppliers and not through sourcing offices. "The design, product development and technical team will liaise daily with the suppliers. The teams that have suppliers in the Far East will visit twice a year, but our European visits are much more frequent." She says the Karen Millen design team will visit Turkey for "development and inspiration" trips, and the product development teams will go to discuss deliveries, prices and production planning. In addition, the technical teams will visit suppliers to support the development process or review production as pieces are being manufactured. Platts also talks of working very closely with suppliers and manufacturers in Turkey. He says regular communications are vital to make sure the speed producing in Turkey can offer is maximised, "Planning is critical and visibility around where the Asos products are made is paramount." Tear believes the key to working well in Turkey is communication and speed, "Building long-term strategic relationships, and planning and commitment are crucial to maximise the potential Turkey production offers. "As with any successful working relationship, it is very much about having a two-way partnership with clear communication. "In recent times it's been difficult for UK buyers to visit Turkey for security reasons, but face-to-face time via video tech and visits to the UK by our Turkish partner suppliers have kept the communication channels open."
Allaying apprehensions of business ethics
The Istanbul Apparel Exporters' Association president Hikmet Tanriverdi believes that that Turkish textile and apparel manufacturers have been diligently following ethical business practices. He allayed fears of the international buyers following media reports of Syrian refugees working as forced labour in Turkish factories. Said Hikmet, "The Turkish apparel industry represents 35,000 manufacturers and more than 15,000 export companies. We want to underline that the individual cases do not represent the whole sector. At IHKIB, we aim to address and eliminate these concerns through a wide range of activities. For example, we have contacted buying groups to discuss the problems and their solutions. Alongside these, we have kept the sector up to date about all the progress in this field. We've also discussed and presented our suggestions about foreign labour employment to the Ministry of Labour and Social Security." While Turkish labour and employment laws are in keeping with the various international standards, Turkish industry too has been adhering to these laws and standards. “Our exporter companies are under strict control by international buyers' auditing systems. In this context, to have ethical, sustainable and clean production," stressed Tanriverdi.
Turkey's design capabilities
In addition to garment manufacturing, Turkish suppliers are building their design skills. On a whirlwind tour of Istanbul manufacturers, it is clear that beyond the buzz of noise coming out of the factories - whether garments being washed for dyeing or trousers being stitched - there is much more going on than the mechanical production of clothes. A key part of these vertically integrated Turkish manufacturers is the design of clothes for brands. "Over the last 10 to 15 years, Turkey has evolved to house design departments in its factories," says Cem Altan. "It's now a very important part of the manufacturing make-up. Customers come to visit factories to see their collections and choose what they want. Most factories will have designers in the UK who keep abreast of the latest fashions and keep up to date with English culture. While some brands have their own designers, stores like Next and Debenhams will choose from our collection and will say, 'Can you change this or adjust this?'" explains Altan, who adds that his factory employs designers in London. While suppliers are investing in setting up the most well-equipped design studios, buyers remain apprehensive of trying out something that has not come completely out of their studios, or something they have not seen on fashion catwalks. Family-owned Özak Tekstil, which specialises in denim for brands such as Sandro, Maje, Marks & Spencer and Hugo Boss, has a dedicated design team of 10. The company's three plants and 2,200 staff produce clothes from the factory to the shop floor within four to six weeks. "Some brands have their own design team, but sometimes they want the manufacturer's design team to come up with their own ideas," says the factory's CSR manager Koral Ersin. "Our design teams are really experienced. They go on store visits, and they follow the latest trends in magazines and websites to find new innovations and inspiration. Some customers send us a prototype of a garment and ask us to make a sample. Some brands just send their designers here and spend time with the design team." "We see things very early," says the factory's head of design, Özlem Tüfekçiolu. "I push the companies and brands to try this new trend because I believe it will be good, but it's only when, say, Gucci etc have it, that they say: 'Can you do this?' I would have already showed it to them two seasons before, but they weren't interested." However, Tüfekçiolu says there are pitfalls to being a leader in design, "Sometimes they take our models and share the ideas with other manufacturers in other countries. Sometimes it's expensive in Turkey so they choose a cheaper option. I see the garments in the shops, and I see this is our model, but not from Turkey."
Source: Textile Excellence
Bangladesh has earned close to Tk 72.94 billion in the fiscal 2015-16 by exporting 1.96 million bales of jute and jute products. This amount is about Tk 8.75 billion more than the amount earned by exporting these products in the previous fiscal. The total jute production of the country during the financial year 2015-16 was 8.25 billion bales. Bangladesh earned close to Tk 10.54 billion in the said fiscal on exports of 1.14 million bales of jute. About Tk 62.40 billion was earned by exporting 825,000 bales of jute products during the same time, said Muhammad Imajuddin Pramanik, textiles and jute minister of Bangladesh in a reply to a query raised in Parliament. Bangladesh earned Tk 64.18 billion by exporting 1.8 million bales of jute and jute items in fiscal 2014-15. Over a million bales of jute fetched Tk 8.16 billion during this period and the remaining Tk 56 billion was earned by exporting jute goods, said media reports quoting Pramanik. In a reply to another query, the minister said that Bangladesh exports jute to about 13 countries – India, Pakistan, China, Nepal, the UK, Russia, Vietnam, Ivory Coast, Djibouti, Brazil, the Phillippines, the Us and El Salvador. Bangladesh exports jute products to about 118 countries.
Source: Fibre2fashion
Kapangan situated on the northern part of Benguet province in the Cordillera Administrative Region of the Philippines. The town started engaging in silk in the 1970s, rekindled in 2005 which eventually became the town’s one town, one product and has the widest mulberry production area of 15.75 hectares is hoping to revive the silk industry in the municipality. As the industry slowly dwindled because of the lack of raw silk which also slowed down the production of silk products despite the aim to be known as the silk capital of the country in 2007. The town was earlier known as one of the country's largest cultivation areas for marijuana but due to government and non government organization's efforts, Kapangan transformed its mountainside growing mulberry trees, the main food of silk-producing worms from China and Japan, after sericulture was introduced in nine of Kapangan's 15 villages in late 2004. Kapangan Mayor Manny Fermin said that their farmers are starting to return to growing white mullberry trees, a plant eaten by silk-producing worms introduced in Kapangan's fifteen villages in 2004. They are coping through the Semi-Culture Association of Kapangan. Mulberries are planted and used in feeding silkworms. The municipality has coordinated with the Department of Science and Technology (DOST) and the Department of Tourism Cordillera for the silkworm operations. DOST Regional Director Venus Tan acknowledged the enthusiasm of Kapangan to focus in planting mullberries. Silk produced from silkworm is among the major sources of fibers produced in the country including abaca (Manila hemp), pina, coir, buri, salago, maguey, and ramie. The Cordillera region is seen as one of the top cocoon-producing areas in the Philippines together with Region 1 and Western Visayas. Aside from the developing silk industry, Kapangan is also known to produce anthuriums, yacon and root crops.
Source: Yarns and fibres
Cotton prices remained steady at cotton market on Tuesday leaving the market largely devoid of activity as leading buyers remained on the sidelines. The Karachi Cotton Association also kept its spot rates unchanged. However, KCA fixed the official spot rate, or base price, for Grade 3 cotton at 7,127 rupees per maund (40 kg). Grade 3 cotton has a staple length of 1-1/16" and micronaire value between 3.8 and 4.9 NCL (no control limits), which represents fine to coarse classes of cotton varieties. In the kerb market, the key crop varieties traded in the range of 6,600 to 6,950 rupees per maund. Major deals on the ready counter that changed hands were: 600 bales from Jalalpur at Rs6,600 per maund (around 37 kilograms) and from Rahimyar Khan at Rs6,950. Since the current season has almost reached its fag end, very little phutti (seed cotton) has been left in the cotton fields. As the leading spinners have already imported substantial quantity of cotton to meet their demand, only small millers are currently looking for quality cotton. Meanwhile, the ginners’ body has urged the government to give relief package to the ginning industry and treat it on a par with other sectors like textile. The leading world cotton markets also remained steady, but Chinese and India markets were firm at previous rates.
Source: Yarns and fibres
Australian cotton growers and exporters during a seminar organized by Australian Cotton Shippers’ Association in Ludhiana urged Indian traders and industry owners to buy the Austrialian cotton. Stuart Gordon, research scientist from Advanced Fibres and Industrial Chemistry Group, Australia, said that the Australian cotton had high fibre strength, and was dyeable and spinnable, making it better than cotton from other parts of the world. He further added that the uniformity and consistency of the Australian cotton was more because most of it was grown by large growers, using one or two seed varieties, which leads to consistent and uniform quality. Members of the association said that the Australian cotton consumption was the highest in India last year — around 22 percent of it was consumed in India due to various factors. Less cotton crop harvest in India last year was one of the major reasons for the consumption of the Australian cotton. Though cotton from Africa and US had relatively been consumed more in India in terms of imports, but Indian consumers were now well-versed with the good quality of the Australian cotton, they were expecting the demand to remain high this year also. The demand for the Australian cotton had been more in the southern and north India, as compared to the rest of the country. They were expecting high demand in Punjab. One of the senior officials from a city-based textile company said that the quality of Australian cotton was good last year, so they would use the Australian cotton this year as well. Moreover, demonetisation may lead to more cotton imports. Mahesh C Thakker, an official from Perfect Cotton Company, Mumbai, said that demonetisation was going to be a major factor leading to increase in imports of cotton in India this year. Farmers in India had not been selling cotton after demonetisation. They had been demanding cash, which was still in shortage in the market, and millers and manufacturers were not getting adequate cotton. So they would depend on imported cotton. Speaking about the international market scenario for cotton, Eimear McDonagh said that China, the biggest producer and consumer of cotton in the world, had reduced imports of cotton due to a change in the government policy there, so the exports of the Australian cotton to other countries such as India and Bangladash had increased.
Source: Yarns and fibres
