• CCI AD FROM 5th April 2021

MARKET WATCH 29 NOV 2017

NATIONAL

INTERNATIONAL

FICCI, UP unit welcomes draft textile policy of Yogi govt

Lucknow, Nov 28 (UNI) FICCI, Uttar Pradesh State Council has welcomed the draft textile policy of the Yogi Adityanath government.Chairman L K Jhunjhunwala and Co -Chairman S K Khandelia on Tuesday attended the meeting called by the Chief Minister, to discuss the draft textile policy for the State. Mr Khandelia welcomed the draft Textiles Policy of UP, with claiming in a statement here that this policy will uplift the sector in the State.Prior to the release of the draft policy, FICCI had submitted detailed suggestions to the UP Government for formulation of a vibrant and competitive Textiles Policy.
Commenting on the draft Policy, Mr Khandelia said “It is heartening to see that many of the suggestions submitted by FICCI like Open access for existing as well as new units, capital subsidy for new and existing units over and above TUFS, interest subsidy over and above Central Government’s subsidy for technology upgradation have been included in the draft Policy.

Source: UNI

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Pradhan Mantri Credit Scheme: Industry cheers incentives to powerlooms

The government has introduced schemes for financial assistance of up to 90 per cent under the Pradhan Mantri Credit Scheme for powerloom weavers.  Under this scheme, the government will provide margin money subsidy to the extent of 20 per cent of the project cost, with a ceiling of Rs 1 lakh, as well as interest subvention at six per cent per annum, both for working capital and term loans up to Rs 10 lakh for a maximum of five years. Another scheme for the ailing powerloom sector is Sustainable and Accelerated Adoption of Efficient Textile Technologies to Help Small Industries, abbreviated as SAATHI. “This is expected to benefit almost 2.5 million powerloom units, which produce 57 per cent of total cloth in the country. The use of efficient equipment would result in energy savings and cost savings to the unit owner, who would in turn repay in instalments to EESL (Energy Efficient Services Ltd) over a three to four-year period,” said Ujwal Lahoti, chairman, The Cotton Textiles Export Promotion Council. The schemes provide for powerloom units to not only upgrade technology but to install solar power equipment to cut energy costs. “The Union ministry and state governments have announced several promotional schemes for powerloom textiles but there is hardly any awareness in the industry. The highest benefit of these schemes have been taken by entrepreneurs of Gujarat and Tamil Nadu. The solar energy scheme for small powerloom units will help the unit to pay back bank loans within three to four years. After this initial repayment period, the unit shall get practically free electricity,” said Kavita Gupta, textile commissioner. Of the 2.5 million powerlooms, half are in Maharashtra. There are 108 powerloom clusters in the country and 72 textile parks. While welcoming the increase in the Merchandise Exports from India Scheme (MEIS) from two to four per cent, Lahoti urged the government to include cotton yarn under it. And to similarly raise the MEIS on cotton fabric. “While every other segment in the textile value chain has been provided with MEIS benefits, cotton yarn has been excluded for some inexplicable reason, though it was included in the Focus Market Scheme and Incremental Export Incentive Scheme under the earlier Foreign Trade Policy,” he said. The spinning sector is passing through difficult times and losing market share to Vietnam and Indonesia due to increasing costs. Withdrawal of export incentives for cotton yarn has reduced India’s competitive edge, as local prices have increased by five to six per cent, is the complaint. More of cotton yarn export will benefit not only the spinning sector but also cotton farmers and the value-added segments of fabric and made-ups/garments, said Lahoti.

Source: Business Standard

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Buyer Seller Meet and Exhibition of Powerloom Products and Textiles Inaugurated by Textile Commissioner on 26 Nov

New Delhi: Union Textile Ministry has recently announced Solar Energy Scheme for small power loom units, on Grid Solar Photo Voltaic Plant (without battery backup) and Off Grid Solar Photo Voltaic Plant (with battery backup), where the Government will provide Rs. 2.50 lakh subsidy per unit. This will help the unit to pay back bank loans within 3-4 years, after which the unit shall get practically free electricity, stated Textile Commissioner Dr. Kavita Gupta, IAS. She was speaking while inaugurating Buyer-Seller Meet (B2B) and Textile Exhibition organized by The Regional Office of the Textile Commissioner, Navi Mumbai on 26th November 2017. The Fair shall remain open till 28th November 2017 at Kohinoor Mangal Karyalaya, Opp. Swami Narayan Temple, Dadar (E), Mumbai. Dr. Kavita Gupta further stated that Union Textile Ministry and State Government has announced several promotional schemes for power loom textile industry but there is hardly any awareness to the schemes in the industry. The maximum benefit of these schemes has been taken by the entrepreneurs of Gujarat and Tamil Nadu. There are 25 lakh power looms in the country out of which 50 percent are in Maharashtra. There are 108 power loom clusters in the country. There are 72 Textile parks. Rahul Mehta, President - The Clothing Manufacturers Association of India (CMAI), who was the Guest of Honour, stated that apparel export for the year 2016-17 was 16.8 billion dollars and the target for 2017-18 was 20 billion dollars. However, the export target for 2017-18 will not be attainable and likely to remain at the last year's level. Recently, the government has raised the incentive rate from two percent to four percent for garments and made ups under Merchandise Exports From India Scheme (MEIS). In addition, the Government has also increased ROSL rates from 0.9 percent to 1.6 percent. However, duty drawback rates have ended on 30th September 2017 and new rates have not been announced. Supposing if duty drawback rates announced are around two to three percent, the total incentive will be around eight percent, which was 11.50 to 12 percent earlier. Purushottam Vanga, Chairman -Powerloom Development and Export Promotion Council (PDEXCIL) informed that CMAI & PDEXCIL have recently entered into MOU for mutual benefits. Under this MOU, they will jointly organize Buyer Seller Meet in Mumbai in January 2018. Dhiraj Kothari, President -Mumbai Textiles Merchants Mahajan has stated that the government should create a web portal and include the data of Buyer Seller Meet. Vinod Chothani -Convener of Buyer Seller Meet stated that textile businessmen should offer standard quality, timely delivery and reasonable rates to increase their business. Naresh Kumar, Director -The Regional Office of The Textile Commissioner, Navi Mumbai gave the welcome address in the beginning of the event and Mr. Sivakumar S., Deputy Director proposed Vote of Thanks.

Source: ANI

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Textile industry facing shortage of labour: Texpreneurs Assn

The textile industry in the region at any given time requires three lakh to five lakh workers, a member of Indian Texpreneurs Federation (ITF) said today. The industry in and around Coimbatore, Tirupur, Karur and part of Bengaluru was facing shortage of labour, particularly skilled workers, ITF board member Srihari Balakrishnan said. He was speaking at a function organised to distribute certificates and appointment orders in ITF member mills trained under Skill Development Programme. Balakrishnan further said ITF has organised a job mela where 1,000 trained candidates were given certificates and 170 received appointment orders. Giving details of the scheme under Prime Minister Kaushal Vikas Yojna, ITF convenor Prabhu Dhamodaran said in the pilot phase the member-mills have skill-trained 18,500 workers and for the second, it has signed an MoU with National Skill Development Corporation (NSDC) to train and employ 50,000 candidates. Tirupur Exporters' Association president Raja M Shanmugham said there was a need to tap the real potential of the textile industry in India, which has only four per cent share in the international market.

Source: ET retail

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NSDC trains 1,000 textile workers in Tamil Nadu

The National Skill Development Council (NSDC) has trained 1,000 workers from across various mills in Tamil Nadu. These workers who completed training in last 2 months received certificates at a job mela oganised by the Indian Texpreneurs Federation (ITF). The training programme is a part of the Prime Minister Kaushal Vikas Yojana (PMKVY) version II. At the mela, candidates also received appointment orders. More than 100 member mills from across Tamil Nadu were present in the mela. "Uniqueness of this PMKVY scheme is that for the first time in the history, work methods and training procedures are standardised across India. Also, after training workers, skill level will be uniform and also at maximum efficiency," said ITF convenor Prabhu Damodaran, adding that the training is an effort to increase the efficiency of the workers. "Advantage of this scheme is that manufacturing units can register directly as training centres and create an internal infrastructure for training. This will help Tamil Nadu textile sectors in a big way. We thank the skill development ministry and NSDC for this wonderful scheme and my appreciation to the team in ITF for executing this project in a systematic manner," said Raja Shanmugham, president, Tirupur Exporters’ Association. "In pilot phase, ITF member mills trained 18,500 workers and now with this special project, planning to train and employ 50,000 workers. In job mela, hundreds of candidates participated to register for training. More than 170 candidates received appointment orders in various mills. This scheme is a perfect opportunity for industry to train workers in a more scientific way and also to get a portion of spending cost on training as reimbursement from NSDC," said Elango, board member ITF. (RR)

Source: Fibre2Fashion

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Rupee weakens to 64.51 as dollar remains strong

The rupee depreciated 10 paise to 64.51 against the US dollar in early trade at the interbank foreign exchange market due to strengthening of the American currency overseas. Dealers also attributed the rupee’s fall to increased month-end demand for the US currency from importers. However, the rupee's losses were limited as domestic equities were trading marginally higher. Yesterday, the rupee had gained further ground against the US currency and finished at a new two-month high of 64.41, up 9 paise, on sustained dollar selling by exporters and corporates. Meanwhile, the benchmark Sensex rose 67.90 points or 0.20 per cent to 33,686.49 in early trade.

Source : Business Line

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Garment exporters demand restoration of pre-GST rates

Garment exporters demanded the restoration of duty drawback and Remission of State Levies (ROSL) rates to pre-GST levels, claiming that a whopping six million jobs may be lost in the sector if urgent remedial measures were not taken. India's apparel exporters are facing intense competition from countries like Bangladesh, Pakistan and Vietnam, owing to lower competitiveness. "The average duty drawback that we were getting per-GST was 11.5 percent and the Remission of State Levies (ROSL) was an average of 3.5 percent. Post GST, the average drawback has come down from 11.5 percent to 2.25 percent. "Last week, the government has been very magnanimous in increasing the ROSL from the 0.39 percent which was announced in July to 1.7 percent, but we are still short of the 3.7 percent which we were getting earlier," said Sudhir Sekhri, Chairman, Garment Exporters Association. Addressing a press conference, garment exporters alleged that the government was "making it difficult" for them to run their businesses and they had to incur additional compliance costs due to the "tardy implementation" of the Goods and Services Tax. "We had a decline of 41 percent in (garment exports) in October. There may be a 30 percent decline in November. April-October there is a downfall of 5.8 percent. If this trend continues, for the entire fiscal it could be 15-20 percent," said Vinod Dhawan, President of Apparel Exporters and Manufacturers' Association. Ready-made garment exports dipped by about 40 percent to USD 829.44 million in October. The garment exporters fear that 6 million jobs may be lost in the sector, which is currently giving direct employment to 12.9 million people, going by the fall in exports. The exporters also demanded speedy conclusion of a free trade agreement with Europe for India to regain its export competitiveness, as the industry had to pay 9.8 percent duty for shipping to Europe. Besides, the garment exporters demanded clarity on the e-wallet mechanism, full refund of blocked taxes and that fabric and other inputs be made available to the garment industry at lower rates. The government last week announced the post-GST rates for claiming a rebate of state taxes under the scheme for ROSL on exports of readymade garments and made-ups. It also doubled the rates for incentives under an export promotion scheme -- MEIS -- to 4 percent for readymade garments and made-ups. India’s Apparel exports rose to USD 17.5 billion in 2016 -17 from USD 16.8 billion in 2014-15.

Source: moneycontrol

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Garment exporters expect 15% dip in shipments this year

NEW DELHI: Garment exporters expect over 15% decline in shipments this financial year to $14 billion on account of reduced incentive on duty drawback and rebate on certain state levies post the rollout of the goods and services tax (GST). Average duty drawback pre GST was 11.5% which is now 2.25%.Exports of readymade garments fell 41% in October and as per exporters, November will be as bad if not worse. “Because of tardy implementation of GST, we are incurring higher expenditure on compliance and other transaction costs,” said Vinod Dhawan, President, Apparel Exporters & Manufacturers Association (AEMA) on Tuesday. Various apparel export bodies also voiced concern on competition from Vietnam, Indonesia and Bangladesh and migration of customers to these countries besides the preferential tariff they get in international market. The impact of GST became visible from October and exporters said they are seeing a 7% on year decline in order books. “Therefore it is extremely important that government addresses the issues raised by the industry in order to stem the decline in exports, as industry is not in a position to bear further losses and in the absence of policy incentives, the sector will be forced to shed jobs." said Lalit Thukral, President, Noida Apparel Export Cluster. Exporters expect 6 million jobs to get lost in the coming months if the situation continues. Textile is the largest employer after agriculture and pays Rs 26,000 crore in annual wages. Recently, the government doubled the incentive for exporters of garments and made-ups under the Merchandise Export from India Scheme (MEIS) to 4% of value of exports from 2% with effect from November 1, 2017, to June 30, 2018 in a move to boost exports. “MEIS increase is nominal and units are closing even though global demand and market are growing,” said Thukral added.

Source: The Economic Times

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Double whammy for apparel MSMEs, low RoSL rates - unchanged inputs costs hurting sector under new taxation: AEPC

New Delhi: Referring to the complications faced by the apparel sector that largely comprises of the Micro, Small and Medium Enterprises (MSMEs) in thecountry, the low RoSL rates as compared to the rates of the previous tax regime and unchanged fabric and input costs under the Goods and Services Tax era is not in the best interest of the sector, Apparel Export Promotion Council (AEPC) said. AEPC in a press statement made the following remarks. The release further said that the council do welcome the increase in the rates of Merchandise Exports from India scheme (MEIS) to 4% of value of exports. Commenting on the increase in MEIS rates, AEPC Chairman, Ashok Rajani said that the enhancement in MEIS rates will help in the fulfillment of orders for the Christmas festival as it will result in easing the blocked capital. It will help in the mitigation of the currency difference to some extent. However the council raised disappointed over the announcement of the RoSL. AEPC said that the announced rate is far below than what the Industry has recommended and there has been no consideration of the central taxes rebate in the announcement. Commenting on the impact of the prevailing situation, AEPC informed that the Industry is witnessing a slowdown with jobs being lost and buyers migrating due to high cost. Once the buyers find alternate resources it becomes difficult for us to get them back. The council appealed to urgently restore the previous rates of RoSL and Duty drawback. Citing statistics, AEPC said that the country’s exports have registered a decline of over 39 per cent in the recent times. The apparel industry has been one of the worst hit by the GST as the industry was earlier on the optional route. Also, the industry comprises largely of SMEs who are finding GST compliance and capital blockage a severe strain on their bottom lines, the release added.

Source: Knn India

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A cotton crisis is looming large in Maharashtra

There is a major crisis in the cotton county of Maharashtra and the government is blissfully unaware of the looming disaster they could soon be faced with. Field after field in the various districts of Vidarbha, planted with cotton during the rabi sowing season a couple of months back, have been infested with the Pink Bollworm (gulabi boand in Marathi) and farmers are at their wits’ end combating the pest. They had recently taken to Bt Cotton after years of fierce resistance when they were finally persuaded that this biotechnologically modified seed could resist all pests and diseases. But, last year, farmers in the adjoining districts of Telangana noticed that the Pink Bollworm had now become resistant to pesticides and the Bt Cotton vulnerable to these pests. Yet, with the Central Institute of Cotton Research (CICR) headquartered in Nagpur, no steps were undertaken to warn farmers against the spread of the Pink Bollworm to neighbouring Vidarbha. The Pink Bollworm is a species of moth and there seems to be large scale breeding of the pests as people are reporting infestation not just from their cotton fields but across homes and other areas. According to Professor Ghanshyam Darne, who works closely with farmers in the region, these farmers have gone out on a limb spraying pesticides over and over again but the Pink Bollworms show no signs of receding. In many cases they have spent over a lakh of rupees on pesticides and fertilisers to no avail. “Farmers now realise that they have lost 80 to 90 per cent of their crop. So they have given up and are running tractors over their standing cotton crop. Their yields this season are going to be at the most five to six per cent,” Prof. Darne told me. According to the CICR, which has been unable to home in on a pesticide that will prove effective, the best way to combat the moth is to set pheromone traps across their fields and catch enough of the male of the species to prevent any further breeding. But this primitive method of catching the Pink Bollworm is simply beyond the comprehension of the farmers. I am told that, firstly, you need at least 40 such traps per acre for these to be effective. Pheromones, mixed with natural ingredients like glossyplure, confuse the male moths who mistake the traps for females but farmers who have used it reported poor results. Some farmers say the Union government was aware in August that parts of Andhra Pradesh, Gujarat, Karnataka and Maharashtra had been infested with the Pink Bollworm and ordered the seed companies to compensate the affected farmers for their loss. However, it is November-December when the moths really begin to breed in profusion (it takes only three or four days for the eggs to hatch) and the CICR had tips on avoiding the infestation - sowing at optimum heat and using a 12-week variety of seed as these moths begin to infest the crop at 15 weeks. Now with a month more to go when these Bollworms will continue to breed profusely - there is not a single village anywhere in Vidarbha that has not reported the pestilence - it is no wonder that farmers are crushing their cotton under their tractors to cut their losses. Many, according to Prof. Darne, have decided to sow pulses and other crop but what worries him now is the fallout of their economic situation. Many farmers are yet to receive their loan waiver amounts in actual cash or digital terms. Only farmers who had taken loans of less than Rs 1,50,000 were eligible for these waivers. Many of the eligible farmers have already spent as much or more in fighting this pestilence. They could thus immediately fall into the cycle of debts and repayments again, particularly as they will not be able to realise their cotton harvest this season. Although they are taking to pulses cultivation, they have not yet forgotten their experience of the last harvest of pulses. Farmers in the state had produced a bumper crop of tuar daal but the government could not come up with minimum support price for all of their crop. From May to the onset of monsoon, these farmers were sleeping on their gunny bags of tuar daal in the market yards across the state until the first showers soaked and destroyed it all. That contributed to the intensity of their agitation for loan waivers. Now they are back to Square One. Expect a spike in suicides very soon!

Source: Hindustan Times

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VNSS moots five-point plan to fight bollworm

Nagpur: Vasantrao Naik Shetkari Swavalamban Mission (VNSS), the task force set up by the state government to address the agrarian distress in mainly cotton-belt of the state, has suggested a five-pronged strategy to the government to tackle the pink-bollworm infestation in cotton crop. VNSS chief Kishore Tiwari said he had submitted a report to the government stating the pink bollworm, that was first noticed in Telangana had spread to all cotton growing area in Vidarbha , Marathwada, Madhya Pradesh, Gujarat and Punjab. Among the measures suggested are: completely destroy the infested crop by cattle grazing or burning of the stalks without waiting for the last flowering that gives 'fartad' or low quality cotton yield. Then, soil should be be disinfected to kill eggs of pink-bollworm. Third step is to avoid taking cotton as next crop on that land and instead take oilseeds or pulses. Take care to avoid pre-monsoon sowing. He also suggested farmers could jointly file compensation claims against Bt cotton seed manufacturers for selling them seeds that are no longer resistant to bollworm. Tiwari suggested the urgent need to eliminate monopoly of the multinational seeds and fertiliser, pesticide companies. For this, the government research centres and agriculture universities should be put to task of providing alternatives indigenous straight varieties of cotton seeds. The task force chief has reiterated that the damage caused by pink bollworm this time had assumed huge proportions and caused a major loss to cotton crop in the country.

Source: The Times of India

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Cotton prices jump 7% on fear of fall in output

PUNE: Cotton prices have jumped 6-7% in a week, as the trade is speculating a big fall in output due to pink bollworm attacks in some states, even though there is little clarity yet on the extent of the damage. “Prices have increased by ?250-300 per quintal last week. From our earlier estimate of 400 lakh bales, the trade expects production to fall to 340 lakh bales,” said Pradip Jain, president of the Jalgaon Ginning and Pressing Association. Concerns about crop quality have also impacted prices. “Of late, instances of rejections of cotton bales by buyers have increased,” said Jain. Various government and trade bodies have undertaken surveys to reassess the crop. A Maharashtra government official, who did not want to be named, said the fall in yields could be 15-20%.Textile commissioner Kavita Gupta said: “Maharashtra has been somewhat more impacted by bollworm. Telangana has also got impacted, while Gujarat has been minimally impacted. Some states like Gujarat have declared bonus above MSP, which will help the farmers.” The Cotton Association of India had pegged India’s 2017-18 cotton production at 375 lakh bales (each 170 kg). Cotton bolls are plucked multiple times and about 70% of the crop has already been harvested. Losses due to pink bollworm were higher during the first pickings. However, now the research agencies have noticed an improvement in quality. Blaise D’souza, head of crop production at the Central Institute of Cotton Research in Nagpur, said: “Timely action taken by farmers by spraying pesticides has improved the condition and the next pickings may be of good quality.”

 

Source: Economic Times

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JNPT to shift imported cargo to Mumbai Port warehouses in economy drive

The Jawaharlal Nehru Port Trust (JNPT) will be shifting its imported cargo to Mumbai Port Trust warehouses from January to reduce the cost and time taken in transactions. Currently, all of JNPT’s 4.5 million TEU (twenty-foot equivalent unit) cargo is transported via road to the warehouses of Bhiwandi, which is 59 kms from the port. From Bhiwandi warehouses, traders have to lift their cargo to designated areas of the city, in turn overlapping the route and increasing road congestion.“A disciplined movement of cargo is shaping up at JNPT and as part of this realignment, imported goods of about 0.4-0.5 million TEUs meant for Mumbai alone will be shifted to nearby Mumbai Port Trust warehouses via barges,” Neeraj Bansal, JNPT chairman-in-charge, told Business Standard. “This will not only decongest roads but also reduce transit time by half leading to transaction cost savings of about Rs 14,000-15,000 per container,” he added. The transit time of cargo to and fro Bhiwandi currently takes over 48 hours. For other imported cargo meant for the Maharashtra hinterland, JNPT will be making use of dry ports being planned in the central part of the state to facilitate faster and smoother movement of goods. For export-oriented cargo, the Ministry of Shipping has identified 2,000 acres near JNPT where goods from within Maharashtra and other states will be collected and taken to JNPT to be exported. “We are still working out cost and time-saving calculations for these realignments but are confident it will create value for both parameters,” Bansal said. “The export-oriented cargo hub will be multi-modal in nature with the location identified at Mira Road-Bhayander." The Mumbai Port is willing to start its service for JNPT cargo as it opens up two new revenue streams for it. “The wharf readily available for loading-unloading of vessels along with closed warehouses, which are partly vacant can be used by JNPT,” said Yashodhan Wanage, deputy chairman at Mumbai Port. “This will bring us (Mumbai Port) two new streams of revenue with wharf usage charges being much lower than road transportation cost for JNPT. This will be a win-win situation for bothMumbai Port as well as JNPT,” Wanage added. With the realignment of cargo movement at JNPT, the port is set to hit another level of ease of doing business. Recently, the direct-port-delivery (DPD) system, which featured in the World Bank ease of doing business report that put India 30 notches higher, was initiated at JNPT and Chennai ports where container congestion has been the highest. Today, about 40 per cent of JNPT’s cargo is moved via the DPD system leading to sizeable transaction cost savings as usage of CFS (container freight stations) is completely eliminated in this process.

Source: Business Standard

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Global Crude oil price of Indian Basket was US$ 61.92 per bbl on 28.11.2017

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$ 61.92 per barrel (bbl) on 28.11.2017. This was lower than the price of US$ 61.95 per bbl on previous publishing day of 27.11.2017. In rupee terms, the price of Indian Basket decreased to Rs 3988.73 per bbl on 28.11.2017 as compared to Rs. 4008.03 per bbl on 27.11.2017. Rupee closed stronger at Rs. 64.42 per US$ on 28.11.2017 as compared to 64.69 per US$ on 27.11.2017. The table below gives details in this regard:

Particulars

Unit

Price on November 28, 2017 (Previous trading day i.e. 27.11.2017)

Crude Oil (Indian Basket)

($/bbl)

   61.92                       (61.95)

(Rs/bbl)

  3988.73                   (4008.03)

Exchange Rate

(Rs/$)

   64.42                        (64.69)

Source: PIB

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Global Textile Raw Material Price 2017-11-28

Item

Price

Unit

Fluctuation

Date

PSF

1360.07

USD/Ton

-0.83%

11/28/2017

VSF

2212.48

USD/Ton

0%

11/28/2017

ASF

2667.10

USD/Ton

0%

11/28/2017

Polyester POY

1341.13

USD/Ton

-1.12%

11/28/2017

Nylon FDY

3424.80

USD/Ton

-0.44%

11/28/2017

40D Spandex

5985.83

USD/Ton

0%

11/28/2017

Polyester DTY

2803.49

USD/Ton

0%

11/28/2017

Nylon POY

1689.67

USD/Ton

-0.89%

11/28/2017

Acrylic Top 3D

3636.96

USD/Ton

0%

11/28/2017

Polyester FDY

5728.21

USD/Ton

0%

11/28/2017

Nylon DTY

1598.75

USD/Ton

-0.47%

11/28/2017

Viscose Long Filament

3227.80

USD/Ton

0%

11/28/2017

30S Spun Rayon Yarn

2894.41

USD/Ton

0%

11/28/2017

32S Polyester Yarn

2073.07

USD/Ton

-0.36%

11/28/2017

45S T/C Yarn

2894.41

USD/Ton

0%

11/28/2017

40S Rayon Yarn

2212.48

USD/Ton

0%

11/28/2017

T/R Yarn 65/35 32S

2454.95

USD/Ton

0%

11/28/2017

45S Polyester Yarn

3045.95

USD/Ton

0%

11/28/2017

T/C Yarn 65/35 32S

2500.41

USD/Ton

0%

11/28/2017

10S Denim Fabric

1.42

USD/Meter

0%

11/28/2017

32S Twill Fabric

0.87

USD/Meter

0%

11/28/2017

40S Combed Poplin

1.22

USD/Meter

0%

11/28/2017

30S Rayon Fabric

0.67

USD/Meter

0%

11/28/2017

45S T/C Fabric

0.72

USD/Meter

0%

11/28/2017

Source: Global Textiles

Note: The above prices are Chinese Price (1 CNY = 0.15154 USD dtd 28/11/2017). The prices given above are as quoted from Global Textiles.com.  SRTEPC is not responsible for the correctness of the same.

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High production cost hinder smart textiles growth: report

Growing usage of nanotechnology in fabrics and a rising demand for wearable technology are the two key drivers for the smart textiles market worldwide, says a study, which found high production cost and incompatibility with the electronics industry as two major barriers to this market’s growth. Excessive cost has not scattered the market as well, it said. The study report, titled ‘Global Smart Textile Market Outlook, Growth, Trends and Forecast 2017–2023’, was released recently by Albany-headquartered Market Research Reports Search Engine (MRRSE), an online catalogue of market research reports. More collaboration is required between smart textile and electronics manufacturers to make smart textiles a success in the global market, an MRRSE press release quoted the report as saying. The report profiles major players based on company overview, business strategies, financial overview and recent developments. Players include Globe Manufacturing Company LLC, E.I. DuPont De Nemours and Co., Milliken & Company, Outlast Technologies LLC, Texas Instruments Inc, Gentherm Inc and Noble Biomaterials Inc from the United States; Ohmatex ApS from Denmark; Koninklijke Ten Cate nv from The Netherlands; and Schoeller Technologies AG from Switzerland.

Source: Fibre2fashion

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Knitwear makers call for easing Brazilian visa rules

Knitwear makers yesterday demanded easing of Brazil's visa rules so that more businessmen from Bangladesh can frequently travel to the Latin American country to explore business potential. AKM Salim Osman, president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), made the request while speaking at a discussion in the association's Dhaka office. Brazilian Ambassador in Bangladesh João Tabajara de Oliveira Júnior attended the meeting, according to a BKMEA statement yesterday. Osman urged the envoy to facilitate bilateral investment as Brazil is an important source for Bangladesh for raw cotton. He also proposed a joint venture investment by Bangladesh's knitwear entrepreneurs to import yarn from Brazil. Regular interactions between chambers of the two countries can help establish warm business relations, said the statement. During the 2014 FIFA World Cup, Bangladesh supplied millions of pieces of jerseys to Brazil.

Source: The Daily Star.

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S Korean fashion firms trim unprofitable brands amid slump

Fashion firms in South Korea, including Handsome Corp., Shinsegae International and the Eland Group, are now focussed on trimming unprofitable brands amid a prolonged domestic economic slump. This year marks the fourth consecutive year of single-digit growth in the fashion industry, implying an effective slowdown for many industry watchers. The South Korean fashion market’s size is projected to reach 39.3 trillion won this year, up from an estimated 38.3 trillion won last year, according to the Samsung Fashion Institute. Hyundai Department Store Group’s apparel unit Handsome Corp. is in the process of closing down its brands Mothan, while Shinsegae International suspended its Banana Republic business in August, according to a South Korean news agency report. Retail giant Shinsegae’s apparel arm Shinsegae International Inc. is re-examining the launch of a new handbag brand, originally planned for the second half of this year. Eland Group, a major South Korean outlet mall operator which sold its brand Teenie Weenie to a Chinese company in January, said it will continue to sell other brands to reduce its debt ratio and improve its financial situation.

Source: Fibre2Fashion

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Karl Mayer introduces new direct warping machine

Karl Mayer, a leading textile machinery manufacturer, developing high-performance warp preparation machines for both weaving and warp knitting, is introducingWKD-SP, the latest result of the company’s know-how and technology transfer between the two sectors. This direct warping machine is based on the Warpdirect machine for the weaving sector, and processes staple-fibre yarns. “Producers of warp-knitted, cotton terry towels should find this particularly interesting,” the company reports. “This new machine delivers all the performance features of its predecessor but, above all, its advantages can be exploited by using back beams, with their wider widths, as sectional warp beams (SWBs) in the warp knitting sector.” Efficient warpingTheWarpdirect is a universal direct warping machine for processing every type of staple-fibre yarn. It is designed to produce high-quality beams for the slasher dyeing process in denim dyeing, for combining all the yarns on the warp beams on the assembling machine, and for processing in a sizing machine with subsequent warp beam production. The back beams for these various processes are said to be of the highest quality, according to the manufacturer. The beams are completely cylindrical, thanks to an intelligent press roller system and optimum yarn laying, and the yarns are arranged accurately. A computer-controlled length measuring system delivers a length accuracy of 0.1 %. The yarns are also handled very gently. Other advantages of the Warpdirect include its low maintenance costs and high productivity. The maximum warping speed is 1,200 m/min. The easy-to-use, graphic touchscreen is designed to guarantee optimum machine usage. “All these advantages enable the WKD-SP to now be used for the production of SWBs for the warp knitting sector as well,” the company says. Production of towelsThe starting point for modifying the Warpdirect to create theWKD-SP was the demands made by the TM 4 TS ELduring use. An efficient direct warping machine was needed to match this machine for producing warp-knitted cotton terry towels. The modifications that were needed relate mainly to the software. The program changes enable constant yarn tension levels and completely uniform SWB circumferences to be produced. SWBs with the same circumferences and yarn tension levels are needed, since several of them are processed at the same time on the TM 4 TS EL. The SWBs of the new direct warping machine have the same width as back beams. This means that the number can be reduced when loading the machine, and the direct beaming process becomes more efficient. For example, with a TM 4 TS EL with a gauge of E 24, a working width of 186" and the normal threading arrangement of 1 in, 1 out, eight SWBs per axle of the beam frame can be reduced to two large-format ones. Karl Mayer is putting the emphasis on flexibility by concentrating specifically on the width of the SWBs. For example, the extra-wide SWBs can also be used on its tried-and-tested direct warping machine and, for the WKD-SP, the manufacturer enables back beams to be processed to suit customer requirements.

Source: Knitting Industry

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Pakistan : Rs11.44bn disbursed for textile sector under PM's Trade Enhancement Package

ISLAMABAD: The government has dispersed Rs 11.44 billion among the textile sector against claims for Rs 20 billion through the State Bank of Pakistan under the Prime Minister’s Trade Enhancement Package till November 22 ,2017, a commerce ministry’s senior official said here on Tuesday. The Rs 162 billion Trade Enhancement Package was aimed at helping the textile sector to gain competitiveness in the international market in order to enhance the country’s exports, the official told APP. “The government wants to revive confidence of the textile sector through the package,” he said, adding that the package would be expanded to other industrial sectors, including the pharmaceuticals. “We are committed to providing an enabling business environment to all the industrial sectors,” he added. The government, the official said, had also given procedural and tax relaxations on the import of textile machinery for the modernization of industry and to enhance the capacity of the sector. The official said that through this package cost of doing business would come down in the country. While talking to APP, All Pakistan Textile Mills Association (APTMA) General Secretary Anis-ul- Haq stressed on the need for providing a competitive business environment to the textile sector to enhance exports.

Source: Business Recorder

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Unresolved cotton seed import permit issues restrict trade with China

LEADING cotton seed exporters say they will not book any business into China until a long-running trade issue surrounding the Bollgard 3 suite of genetically modified (GM) traits is resolved. The issue has been bubbling along since late last year when it emerged China would not issue import permits for cotton seed grown from Bollgard 3 varieties, in spite of the traits present being approved in other formats in both Australia and China. The bad news for the cotton seed trade is that there is no swift resolution in sight. Tony May, managing director of Monsanto Australia, the company that owns the Bollgard 3 trait, said he could not put a timeline on when the situation would be sorted. “Unfortunately, we can’t give an indication as to when the issue will be resolved.” The process being undertaken requires further Australian government regulatory approval, meaning any green light is highly unlikely to occur before the current 2017-18 cotton crop is harvested. Monsanto, along with Syngenta, which owns one of the traits present in Bollgard 3, Cotton Australia, the Australian Government and others are working to determine the correct process for winning approval for the group of traits stacked together. As part of this process, a decision was made to apply for a standalone cultivation approval in Australia for one of the traits in Bollgard 3, COT 102. Upon Monsanto’s request, Syngenta, which own the COT102 trait, submitted this application in June 2017. On 15 November 2017, the OGTR released the COT102 application for public comment, with the public comment period closing on January 10, 2018, meaning the OGTR decision is some way off yet. Following that, the required paperwork will be submitted to China and a decision will be made as to whether this is deemed sufficient to issue export permits. Geoff Shirtcliff, Namoi Cotton cotton seed trading manager, said his company was not planning any business with Chinese buyers until there was clarity around the situation. “It is a big issue and we are not willing to take on the risk unless there is certainty about whether we can send the cotton seed there.” “From the grower point of view it has meant we are less committed in terms of what we have bought at this of year compared to where we are usually.” Peter McBride, spokesperson for Cargill Australia, a major cotton seed exporter, said the issue had the potential to drag cotton seed prices down in Australia. “With cotton seed production in Australia forecasted to increase considerably next year access to the Chinese market is required,” he said. “The continued uncertainty regarding cottonseed exports into China means it is likely that this issue could place continued downward pressure on Australian cottonseed prices.” Wayne Newton, AgForce grains section president, said while cotton seed was not the major determining factor in whether or not to plant cotton, it was an issue that needed to be addressed. “Cotton seed doesn’t sway planting decisions, but it is the icing on cake, so we’d like to see it resolved.” He said cotton seed made up around 15 per cent of the income from a cotton crop, depending on both lint and seed prices. The hold-up is a dampener for those growing Bollgard 3, which performed outstandingly well in terms of agronomics in its first year last season. Bollgard 3 technology was created when the Vipcot gene, produced by Syngenta, used to help control the damaging Helicoverpa species of moth, was added to the Bollgard II trait. According to official Australian Bureau of Statistics data, China has been the second biggest buyer of Australian cotton seed in the past three years, behind Japan. The import issues relate solely to cotton seed, not to cotton lint. It is estimated more than 400,000ha of Bollgard 3 cotton will  be planted by Australian growers this season.

Source: Queensland Country Life

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