China is exploiting and entering the Indian market at cheap price by routing its yarn and finished fabrics through Bangladesh route giving a difficult time to the textile industries at home, comprising primarily of the Micro, Small and Medium Enterprises (MSMEs), said Punjab Pradesh Beopar Mandal President PL Seth. Seth said that since Bangladesh is exempted from paying any duty under the SAARC agreement, Chinese yarn and finished fabric is able to enter our markets through Bangladesh. With the market condition moving from bad to worse, these units as well as the large share of population that finds employment in these units are nearing a vulnerable stage. Along with the local textile industry, local dress material industry as well as printing industry is at stake due to the unfavourable competition. Industrial areas of Ludhiana in Punjab as well as Bhilwara in Rajasthan houses a number of textile units making different kinds of fabrics including suiting, shirting, blazer and blankets.
Source: Yarns and fibres
While export prospects of khadi are assured with the world preferring eco-friendly products, the share of khadi is very low — less than 0.22 per cent — in the textile sector in India, minister of commerce and industry Suresh Prabhu told a recent roundtable titled ‘Khadi: Local to Global’, organised by the Indian Institute of Foreign Trade(IIFT) in New Delhi. As the textiles and apparel sector has made a significant contribution by providing direct and indirect employment to around 35 million and 50 million Indians respectively, making it the largest employment sector after agriculture, khadi export promotion has become an important focus point, Prabhu said. The roundtable last month was supported by Khadi and Village Industries Commission (KVIC) and UDAANSKILL, a start-up engaged in imparting digital skills to micro, small and medium industry (MSME) units, according to a ministry press release. The event focused on identifying newer markets and product diversification, developing promotional strategies to enter newer markets, inputs on trade policy, market access at the World Trade Organisation (WTO) front, compliances, design interventions and possibilities of corporate social responsibility interventions from companies and public sector undertakings. Khadi’s export worthiness also comes from the fact that it earns a lot of water and carbon foot print as its production consumes much less water compared to other fabrics, said KVIC chairman VK Saxena.
Source: Fibre2fashion
Budget 2018: The presentation of Union Budget was as usual preceded by the Economic Survey, which is an excellent exposition of the major economic challenges and opportunities facing the country in the past year and the year ahead. Budget 2018: The presentation of Union Budget was as usual preceded by the Economic Survey, which is an excellent exposition of the major economic challenges and opportunities facing the country in the past year and the year ahead. Budget 2018: The presentation of Union Budget was as usual preceded by the Economic Survey, which is an excellent exposition of the major economic challenges and opportunities facing the country in the past year and the year ahead. One needs more than a quick glance to appreciate fully the various interplay of economic parameters and these have been elaborated lucidly with examples and global comparisons. Take for instance the role of public investment in pushing up the multiplier impact of employment, income generation and thereby economic growth. It corroborates fully the significant role played by investment in scaling up the demand for steel as emphasised in this column on a number of occasions. It has been stated that the ratio of GFCF to GDP climbed from 26.5% in 2003, reached a peak of 35.6% in 2007 and slid back to 26.4% in 2017.Further, while public investment during 2007-08 to 2015-16 has declined by 1.3%, the private corporate investment has come down by as high as 4.4% during the period. However, as a percentage of total investment, the share by private corporate sector is significant at 41% in 2015-16. It is also to be mentioned that private investment in the machinery and equipment segment is the highest compared to public investment and investment by the household sector. A cross country comparison has established that higher saving does not necessarily lead to more economic growth even if the reverse is true. The policies encouraging investment have always been and would always contribute to higher economic growth. The second relevant point is to note that investment decline stemming from balance sheet stress, if it is large deficit, is a more challenging task and would require twin steps of resolving the stress assets and positive measures to revive investment. It is interesting to note that as per the Global Infrastructure Outlook, around $4.5 trillion worth of investment is required in India for infrastructure development till 2040. The current trend shows that India would be facing an investment gap of $526 billion by the end of coming 13 years. The gap has widened due to shortfall in PPP projects, especially in power and telecom, land and forest clearance issues, and above all, the adverse impact of stressed balance sheets of private sector. These are big sums and India needs to supplement its own saving with adequate FDI and financing from institutions like NHB, Asian Infrastructure Investment Bank and New Development Bank (Brics Bank). This piece on the role of investment in infrastructure in shaping the country’s growth chart in the next two to three decades should guide the investment policy of the government. In the Budget for 2018-19, a sum of Rs 5.97 crore has been allotted as Budgetary and extra budgetary expenditure on infrastructure sector exceeding last year’s estimated expenditure by more than 20%. Railways’ capex of Rs 1,48,528 crore is earmarked for 18,000 km of doubling, third and fourth line works, 5,000 km of gauge conversion, 3,600 km of track renewals and rolling stock programme for 12,000 wagons, 5,160 coaches, 700 locomotives during 2018-19. The work on eastern and western DFC is going on along with redevelopment of 600 major railway stations. Rs 16,800 crore has been allotted for MRTS and Metro projects. In the road sector, the capex of Rs 1,22,000 crore has been earmarked for expansion of National Highways (more than 9,000-km length achieved in 2017-18). The seamless connectivity of interior, backward and border areas of the country would be achieved under the Bharatmala Pariyojana progamme, which has been recently approved. Water supply including sewerage works programme would cover around Rs 77,640 crore worth of projects under the state governments for 500 cities. Around 99 Smart cities for which a sum of Rs 2.04 lakh-crore outlay was earmarked are under various stages of project completion. A sum of Rs 4,086 crore is earmarked for civil aviation in the country, which would be spent on modernisation of old airports, creating minor airports and helipads. A sum exceeding Rs 44,500 crore has been allotted to the ministry of urban affairs to be spent on PMAY (Urban) and Affordable Housing. As state governments have emerged as the central players in carrying forward the actual implementation of a majority of projects, it is assessed that around 63% of capex would be spent at the state level for state schemes and centrally-sponsored state schemes. It is very much expected that public investment in most of the infrastructure sectors like railways, road, civil aviation, ports and coastal waterways, smart cities and affordable housing would crowd in private sector investment and also household investment. The recapitalisation of banks recently accomplished would enhance the credit extending capacity of the banks. The resolution of NCLT referred companies (majority is steel companies) in the next 6 months would enhance steel availability and revenue generation in the country and these factors would supplement the fund availability to execute the infrastructure projects as announced in the Budget. This equation sounds good for steel demand.
Source: Financial Express
India will register its unhappiness with the “inadequate’’ fresh offers in services made by partner countries negotiating the mega regional comprehensive economic partnership (RCEP) as members converge in Indonesia this week for a crucial round of talks. “There has been some improvement in the fresh offers on services but it is marginal and falls woefully short of the market access India has been seeking,” a person close to the development told BusinessLine. Most of the 15 partner countries of the RCEP, particularly the 10-member ASEAN countries, have not made any substantial offers in Mode 4 related to movement of workers and professionals, despite repeated push by India. Other members of the group, which includes China, South Korea, Japan, Australia and New Zealand, too, have not been forthcoming in the area. “The RCEP, which calls for ambitious tariff dismantling in the area of goods, can make economic sense for India only if it gets a lot of concessions in the area of services. Since the effect of tariff reduction is apparent right from day one and the benefits from services remain in the pipeline for a long time, it is important for the gains in services to be substantial to compensate for all this. Half-baked responses in services won’t do for India,” the official said. The ASEAN, however, seems to be unperturbed about the imbalance in the negotiations so far between goods and services. It is putting pressure on India to commit to zero tariffs on more than 90 per cent of items for all members including China (with some deviations to protect certain items).
ASEAN hope
In a recent Indo-ASEAN meeting in New Delhi, Indonesia minced no words in conveying that the 10-member bloc expected India not to block attempts to conclude the RCEP this year. “I believe India will stand with the ASEAN to conclude the RCEP this year….and will not disappoint,” said Indonesian Trade Minister Enggartiasto Lukita. Commerce and Industry Minister Suresh Prabhu pointed out that India was looking for an outcome with a balance between goods, services and investments. In services, India wants that at least the provisions on Mode 4 that were agreed upon as part of the FTA between ASEAN and New Zealand, Australia, should be included in the RCEP, but the ASEAN is not willing to agree to it. The ASEAN-Australia-New Zealand FTA talks about facilitating the movement of natural persons engaged in the conduct of trade and investment and establishing streamlined and transparent procedures for applications for immigration formalities for the temporary entry of natural persons. The RCEP aims to be the largest free-trade bloc in the world, covering about 3.5 billion people and 30 per cent of the world’s gross domestic product.
Source: Business Line
NEW DELHI: The Directorate General of Foreign Trade (DGFT) responsible for promoting the country’s exports needs to be brought under the domain of the Ministry of Finance a tax officers’ association has demanded. The DGFT is currently under the Ministry of Commerce and Industry. In a letter to Finance Minister Arun Jaitley the Indian Revenue Service (Customs and Central Excise) association said such a move will help in better facilitation of trade inside and outside of India. The commerce ministry through the foreign trade policy has undertaken a number of measures like imposition of anti-dumping duty formulation of trade policies and setting up of Special Economic Zones said the letter written by Anup K Srivastava president of the association and a senior IRS officer. However with the major function of trade facilitation being with the Ministry of Finance and the customs being the first interface of importers and exporters at times there are problems of coordination. This leads to duplicity of work which at times not only increases the transaction cost but is also detrimental to the growth of economy it said. “It would be prudent that DGFT be brought into the Ministry of Finance so that there is uniformity in the policy and trade has only one agency to interact with. This it is felt that such a change would boost the trade measures taken by the government and make India a destination for foreign investment ” said the letter. The assn said it was learnt that the commerce ministry had moved a proposal towards taking over the functioning of Directorate of Safeguards a key directorate looking at the interest of domestic industry under the finance ministry by way of creation of a Directorate of Trade Remedies.
Source: Tecoya Trend
India has sent out invitations to more than 40 World Trade Organisation members, including the US, the EU, Brazil, Australia and several countries from across Asia and Africa, for an informal mini-ministerial gathering in the third week of March, where trade ministers are to deliberate upon ways to keep the multilateral organisation relevant and map the way ahead. “Trade ministers have been invited on March 19-20 and the main event has been scheduled on March 20. We hope to have a clearer picture of how to move ahead at the WTO and what our priorities should be at the end of the meeting,” a Commerce Ministry official told BusinessLine. Trade experts, however, caution that India needs to have a definite agenda in mind and a clear idea on what to focus on. While New Delhi fought fiercely to keep new issues such as e-commerce and investment facilitation out of the negotiating agenda at the Buenos Aires Ministerial, soon after Commerce and Industry Minister Suresh Prabhu said at a meet organised by CII that the mini-ministerial must focus on some of the most-relevant issues of the day. He added that some of the very important emerging issues must be incorporated in the WTO. “There is no clear agenda yet for this meeting. We don’t know where we are going and whether we are still supporting development issues,” said Biswajit Dhar, from JNU. According to Abhijit Das from the Centre for WTO Studies, development is at the core of the WTO, and special and differential treatment for developing countries is an essential part of the GATT architecture and WTO rules. “Special and differential treatment continues to be relevant for large economies such as India, China, Brazil and South Africa, particularly in view of their low per capita income and vast pockets of poverty,” he said, adding that India needs to fight attempts by the developed world to stop extending special treatment to such countries. On new issues such as e-commerce, investment facilitation and MSMEs, Das said that binding commitments in these areas would go against the interest of India and its industry.
Subsidies
New Delhi failed to get a permanent solution to the problem of treating subsidies for food procurement at Buenos Aires as the US refused to engage on the matter. It, however, enjoys protection against any possible actions from other members in case it breaches the given subsidy limits, as the permanent peace clause remains in place despite the stringent conditions attached to it. “Developing countries such as India realise that the WTO remains the best platform to serve its interests on the global trade front as it can form alliances to push its interests while in bilateral free trade pacts it is on its own,” the official said. Many members fear that the future of the WTO could be at stake with the US questioning the dispute settlement system and most countries turning protectionist.
Source: Business Line
Sharp sell-off in the Indian as well as the global equity markets, coupled with a strong surge in US treasury yields, have kept the rupee nervous over the last one week. The Indian benchmark indices tumbled over 4 per cent in the past week and the sell-off has intensified after the Union Budget. The US 10-year treasury yields have risen sharply from around 2.70 to 2.85 in the past week. The rupee, which was hovering around 63.5, reversed sharply lower and fell, breaking below the psychological level of 64. The currency hit a low of 64.22 on Monday before closing at 64.07, down 0.75 per cent for the week. The sell-off in the Indian equity market, which is getting intensified, can keep the rupee under pressure. Also, events like the Reserve Bank of India’s policy meeting on Wednesday, the Index of Industrial Production (IIP) and the Consumer Price Index (CPI) inflation data on Monday next week may keep the currency market volatile.
Dollar consolidates
The dollar index is trading on a mixed note. The index, which fell to a low of 88.5 last week, got a breather from the US jobs data last week. The US non-farm payroll increased by two lakh in January, against the market expectation for an increase of 1.8 lakh jobs. The average hourly earnings increased 2.9 per cent (year-on-year) in January. The strong jobs and earnings numbers are bringing in fresh talks in the market of the chances of the US Federal Reserve increasing the interest rates four times instead of three times this year. The dollar index, though has bounced after the jobs data, is not gaining momentum. The index is stuck in a narrow range between 88.5 and 89.6 for more than a week now. A breakout on either side of 88.5 or 89.6 will decide the next move. But the broader outlook remains weak as long as the index stays below 90 and a fall to 88 cannot be ruled out in the coming weeks.
Rupee outlook
The fall below 64 has turned the near-term view negative for the rupee. The region between 64 and 63.9 will now serve as a strong resistance and cap the upside in the coming days. A fall to 64.3 is likely in the coming days. A break below 64.3 will increase the likelihood of the rupee extending its fall to 64.4 and 64.5 thereafter. The downside pressure will ease only if the rupee breaks above 63.9. In such a scenario, the rupee can regain strength and revisit 63.5 levels. But such a move looks less probable at the moment.
Source: Business Line
New Delhi: The production of cotton in the country has nearly doubled since the introduction of Bt cotton in 2002, the government told the Rajya Sabha on Monday. In a written reply to a question, union minister Mahesh Sharma also said the hybrids have helped to minimise the damages caused by pests like bollworm. The minister, however, said evaluation of each application for environmental release of GM crops is done on a “case-to-case” basis after a thorough examination of health, environment and food and safety assessment. His remarks assume significance as they come amid a controversy over the country’s GM crop regulator, Genetic Engineering Appraisal Committee (GEAC), recommending the commercial use of GM mustard in a submission to the environment ministry. Several groups, including RSS-affiliate Swadeshi Jagran Manch (SJM), have criticised the GEAC move, saying commercial use of GM mustard would impact allied agri-activities. “Since the introduction of Bt cotton in 2002, there has been a near doubling of cotton production in the country from 158 lakh bales in 2001-02 to 351 lakh bales in 2016-17, and increase in productivity from 308 kg/ha in 2001-02 to 568 kg/ha in 2016 17,” he said. After receiving representations from various stakeholders post the GEAC recommendation, the government referred the issue of GM mustard back to the GEAC. The minister was asked if the government agencies have portrayed a rosy picture on Bt cotton and whether there was a need for a scientific study about the impact of GM crops on health. “Bt cotton hybrids have helped to minimise the damages caused by bollworm, reduce pesticide use, increase production, yield and net income of the farmers,” Sharma said. Infestation by bollworm, a major pest of cotton, he said, has had a devastating effect on cotton crop during the late 1990s, with most of the available pesticides becoming ineffective to control it. Bt cotton, which is resistant to bollworm infestation, was released during 2002-03. “As per the recent data of Ministry of Agriculture and Farmers Welfare, India has become the largest producer of cotton in the world in the year 2016,” he said. “Studies and risk assessment documents prepared by international regulatory agencies and by other countries are also referred for ascertaining the safety of the evaluated product,” the minister said.
Source: Money Control
Surat: Commercial tax commissioner P D Vaghela has asked leaders of Surat's man-made fabric (MMF) industry to prepare a report on the losses incurred by the sector and the list of demands related to Goods and Service Tax (GST) to be submitted to the GST Council. A delegation of industry leaders, including Federation of Indian Art Silk Weaving Industry (FIASWI), Southern Gujarat Chamber of Commerce and Industry (SGCCI) and power loom weaving sector, met Vaghela in Ahmedabad on Monday and requested that the state government consider yarn for free movement without e-way bill in the state. FIASWI chairman Bharat Gandhi said, "The commercial tax commissioner heard the delegation members patiently and assured all possible assistance from the state government in resolving the issues related to e-way bill and GST. We have been asked to submit a detailed report on the losses and other issues to the government and the finance ministry for consideration in the upcoming GST Council meeting. The industry leaders have decided to wait for the GST Council meeting before deciding on their next course of action." The industry has been demanding that the GST Council consider opening stock credit on the goods held by the weavers and traders pre-GST. Also, power loom weavers should get refund of the GST paid on the textile machinery purchased under Export Promotion Capital Goods (EPCG) scheme. Leader of power loom sector Ashish Gujarati said, "The government is positive in its approach and we are sure that the e-way bill issue for the yarn movement in the state will be resolved. Rest of the demands will be fulfilled by the central government and the GST Council."
Source: The Times of India
Guwahati: The commissioner and secretary of handloom, textiles and sericulture, government of Assam, Mukti Gogoi, on Sunday said 10 countries have stepped forward to invest in the sector. Taking part in a dialogue on handlooms and textiles, he said a strategic location and a strong connectivity make Assam the ideal place for engaging in business with countries of the Association of Southeast Asian Nations (Asean). Gogoi said 92 per cent eri and 98 per cent muga in the country are produced in Assam only, adding there is a domestic market worth Rs 5,000 crore for handloom, textiles, sericulture and handicraft products. The official added that the National Handloom Development Programme has been taken up for implementation and block-level common facility centres are being set up for weavers in rural areas. "The handloom and textile sector has immense possibility for investment and the government of Assam welcomes investors with open arms," minister, handloom, textiles and sericulture, Ranjit Dutta, said at the sectoral session on handloom and textiles held as part of the Advantage Assam-Global Investors' Summit at the Sarusajai sports complex. Dutta said handloom and textiles have organised and unorganised sectors and both have immense investment potential. Representing the ministry of handloom and textile, government of India, S. Bandopadhyay, briefed the participants about steps taken by the Centre for development of these sectors. He announced that P.K. Madhavan, director, TechFab India, is willing to invest heavily in the technical textile sector such as geo textile and jute bags among others. The managing director, Fabric Plus Pvt Ltd, Dilip Barooah, praised the natural textiles of India. He emphasised the endeavour of the Assam government to make the state the future natural textile hub of India. He also talked about the budget highlights on steps to woo investors.
Source: The Telegraph
A model at Lakme Fashion Week Summer/Resort 2018. Courtesy: Lakme Fashion Week Usha International, India's leading manufacturer of sewing machines, fans and home appliances, is all set to introduce its sustainable fashion initiative Usha Silai at the Lakme Fashion Week (LFW) Summer/Resort 2018. The Usha Silai project will be an innovative fashion concept showcasing eco-friendly and creative concepts of four designers. The sustainable fashion concept aims to empower women in rural areas with skills and resources to create clothes and accessories that can be retailed in the urban fashion market. The sustainable label will be launched in association with IMG Reliance at the fashion event. "We are delighted with the debut of label Usha Silai. The brand has created a platform that has the power to impact and change the lives of many. Making use of local stitching skills and modern techniques, we will create an umbrella that caters to sustainable fashion in a modern language. This is an initiative that commences at the very foundation and attempts to reach wider audience through various mediums including the internet. I hope it will strengthen and grow over time," Dr Priya Somaiya, executive director, Usha Social Services said. The Usha Silai project will showcase works of four designers namely Soham Dave from the Dholka cluster in Gujarat, Amit Vijaya and Richard Pandav from the Kaladhera cluster in Rajasthan, Sayantan Sarkar from 24 South Parganas Mastikari cluster in West Bengal and Sreejith Jeevan from the Puducherry cluster. The works of local women from Usha Silai schools in four identified creative hubs in Rajasthan, Bengal, Gujarat and Puducherry, will also be on display. The creativity of designer Soham Dave was challenged to work with the Dholka cluster in Gujarat and the result is a collection called 'The Black Machine' inspired by the Black Usha Machine. The focus of the garments is created with surfaces and interesting textures on the black lock stitch machine. The collection called 'Rani’sthan' by Amit Vijaya and Richard Pandav is an ode to every woman who is a queen in her own right. Sayantan’s work includes Khadi and linen blends along with batik prints that reveal the lush green foliage of the village. In his work, Sreejith has added fabric patches and quirky detailing to reveal his inspiration of windows, glass panels, which were seen in every window of the old French colony. "#ReimagineFashion is a powerful narrative of empowerment and inclusivity in fashion. It establishes the principle that for Indian fashion to be forward, it needs to think local and leverage human potential at the grass root level for the development of a sustainable livelihood. We are honored to partner with Usha International for this initiative and launch Usha Silai at Lakmé Fashion Week," Jaspreet Chandok, Head of Fashion, IMG Reliance said.
Source: Fibre2Fashion
CHENNAI: There’s a little bit of India in all my saris,” says New Delhi-based Rema Kumar. With 20 years of experience in designing, she is known for giving traditional Indian weaves a contemporary twist. From February 8, Chennai is all set to welcome Rema and her collection ‘Textile Tales’, featuring weaves like Ajrak, Batik, Kalamkari, Shibori, appliqué work and more, on saris from Uttarakhand, Bhagalpur, Kota, Banaras, Chanderi, and Maheshwari. “Handblocks on a saree are basically my designs. And because geometry is my weakness, there are a lot of Mughal jaalis, circles, triangles, and lines in these prints,” she points out. A fusion of different weaves, fabrics, and techniques, is Rema’s USP. “Each collection is unique. One can never predict how long it will take to make a particular kind of saree — especially because my ideas originate at one point, and lead me somewhere else,” she says, sharing an example about her unplanned working style. “Sometimes if I am not happy with a design, I send it to Aligarh for a Mokaish work, where the detailing is done with a metal thread.” Her first collaboration was in 2001 with Mangalgiri and Maheshwari saris. Since then, her love for weaves has taken her places. She says, “Even if I am on a holiday, I keep looking for local arts and click pictures. Most of my travels end up as a collection.” One of her most demanding collections was made in Uttarakhand, where they do twill weaves with silk or wool. “But I experimented with cotton. The initial batch of saris we wove was thick. So, we had to rework on it to make them light, and I called them the Uttara saris. People often mistake it for linen, and I explain that it is a shawl weave made with cotton saris,” she explains. For the past 15 years, Rema has been working in Chattisgarh and has experimented with tussar. “I have mixed different yarns like wool, linen, cotton with tussar. And each time a different yarn is introduced in the inherent yarn, the end product tells a new story,” she says. Based in New Delhi, she has collaborated with weavers she meets at exhibitions there and has had the advantage of choosing whom to work with. But are weavers always open to working with designers and their ideas? “Not all are but they’re weavers who don’t want any kind of interference. That’s probably because they are not exposed to urban designs and markets,” she avers. Rema credits the Internet and social media for helping people know about the different kinds of weaves. “Kalamkari, Patola, Pochampalli, and Ikat have become common words at parties and gatherings. Some don’t know the difference between a weave and a print, but there’s the Internet for that,” she laughs. For the past year, Rema has been working in Odisha, Banaras, and Assam. “I’m working with the Karbi tribes of Assam, whose weavers are all women who weave only after finishing their chores. Assam also has a lot of festivals, so whatever they weave, they wear. As many weavers have taken to other jobs, many motifs and weaves have vanished too. But I am excited about the collection and hope to get substantial work done this year,” she smiles.
Source: The New Indian Express
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1451.19 |
USD/Ton |
0% |
2/5/2018 |
|
VSF |
2315.56 |
USD/Ton |
0% |
2/5/2018 |
|
ASF |
2569.32 |
USD/Ton |
0% |
2/5/2018 |
|
Polyester POY |
1379.03 |
USD/Ton |
0% |
2/5/2018 |
|
Nylon FDY |
3536.78 |
USD/Ton |
0% |
2/5/2018 |
|
40D Spandex |
5788.90 |
USD/Ton |
0% |
2/5/2018 |
|
Polyester DTY |
2807.22 |
USD/Ton |
0% |
2/5/2018 |
|
Nylon POY |
1641.51 |
USD/Ton |
0% |
2/5/2018 |
|
Acrylic Top 3D |
3758.82 |
USD/Ton |
0% |
2/5/2018 |
|
Polyester FDY |
5995.08 |
USD/Ton |
0% |
2/5/2018 |
|
Nylon DTY |
1625.65 |
USD/Ton |
0% |
2/5/2018 |
|
Viscose Long Filament |
3306.81 |
USD/Ton |
0% |
2/5/2018 |
|
30S Spun Rayon Yarn |
3029.26 |
USD/Ton |
0% |
2/5/2018 |
|
32S Polyester Yarn |
2209.30 |
USD/Ton |
0% |
2/5/2018 |
|
45S T/C Yarn |
3029.26 |
USD/Ton |
0% |
2/5/2018 |
|
40S Rayon Yarn |
2363.14 |
USD/Ton |
0% |
2/5/2018 |
|
T/R Yarn 65/35 32S |
2553.46 |
USD/Ton |
0% |
2/5/2018 |
|
45S Polyester Yarn |
3156.14 |
USD/Ton |
0% |
2/5/2018 |
|
T/C Yarn 65/35 32S |
2664.48 |
USD/Ton |
0% |
2/5/2018 |
|
10S Denim Fabric |
1.48 |
USD/Meter |
0% |
2/5/2018 |
|
32S Twill Fabric |
0.91 |
USD/Meter |
0% |
2/5/2018 |
|
40S Combed Poplin |
1.27 |
USD/Meter |
0% |
2/5/2018 |
|
30S Rayon Fabric |
0.71 |
USD/Meter |
0% |
2/5/2018 |
|
45S T/C Fabric |
0.75 |
USD/Meter |
0% |
2/5/2018 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15860USD dtd. 5/2/2018). The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Cotton cultivation area in Tajikistan has increased by 13,500 hectares this year, local news agency TajikTA reported Feb. 5. “Cotton is one of the Tajik export commodities and a raw material for the local light industry. With growth of market demand cotton is now being cultivated in a total area of 187,500 hectares, 13,500 hectares more compared to 2017,” Tajik Ministry of Agriculture states. Cotton fields are to be expanded at the expense of grain and fodder crop areas, according to the ministry. Earlier, cotton cultivation areas and, correspondingly, cotton production were decreasing in the country. In 2012, 418,000 tons of cotton was harvested, while the harvest was 393,000 tons in 2013, 372,000 tons in 2014, 335,000 tons in 2015, and 270,000 tons the last year. A consistent decrease in cotton cultivation fields caused the decline as 200,000 hectares were allotted for cotton in 2012, with only 160,000 hectares allotted in 2016. In 2017, Tajik farmers managed to meet the Agriculture Ministry's forecast for the first time over the past several years. Thus in 2017, 380,000 of cotton was harvested in Tajikistan, 5.2 percent more than in 2016. Cotton has always been one of the main export commodities (together with primary aluminium) for Tajikistan.
Source: Azer News
After a sharp increase in cotton prices observed in the first three weeks of January, prices took a negative turn in later part of the month in the Brazilian market. Center for Advanced Studies on Applied Economics-Luiz de Queiroz College of Agriculture (CEPEA/ESALQ) cotton index rose 3.34 per cent in January to close at 2.7536 BRL per pound on January 31. “When prices were on the rise, processors were more active in the market, in order to replenish inventories and adjusting bidding to asking prices. Cotton growers, in turn, were attentive to the price rises at the New York Stock Exchange (ICE Futures), the delivery of the product purchased through contracts and new contracts for exportation in 2018 and 2019. In the last week of January, however, with the international price drop, purchases ended up reducing bidding prices,” CEPEA said in its latest fortnightly report on the Brazilian cotton market. Towards the end of the month, the pace of trades slowed down, and competition between agents and some buyers limited trades in the spot market. There were also reports of lower quality in several cotton batches. Some growers, who had already sold a great part of their output, went out of the market to focus on fieldwork. For future shipment, the pace of trades was fast, both for the 2016-17 and the 2017-18 crops – some of them involved the 2018/19 season as well. Trades were based on fixed prices (flex), on contracts at ICE Futures and on the CEPEA/ESALQ Index. Despite the gap between bidding and asking prices for both seasons, some export deals were made. Data from the BBM (Brazilian Commodity Exchange) tabulated by CEPEA indicate that 68.2 per cent of the 2016-17 Brazilian crop, estimated at 1.529 million tons, might have been traded until January 30. Of this total, 59.1 per cent were sold to the domestic market, and 40.9 per cent to the international market. For the next season, data indicate that at least 40.5 per cent of the 2017-18 production (forecast at 1.703 million tons) may have been traded in the same period, with 63.6 per cent allocated for exportation and 36.4 per cent for the domestic market. In January, Cotlook A Index averaged 0.9128 BRL per pound, 7.24 per cent higher than in December 2017, while dollar dropped 2.52 per cent against real in the same period.
Source: Fibre2Fashion
Fitlogic—an innovative fit concept for women’s apparel—is tapping Park Avenue Apparel to expand its consumer reach. Fitlogic formed a licensing deal with Park Avenue Apparel that will involve Park Avenue Apparel licensing Fitlogic’s Little Black Pant brand and technology to make garments for its in-house labels. With the partnership, Little Black Pant, an online and direct-to-consumer label, can expand into other programs this year and be used for testing with other retailers that want to experiment with Fitlogic’s technology. Fit has been an ongoing problem at retail today, but Fitlogic is disrupting standard sizing with its innovative technology. Founded by Cricket Lee in 2002, Fitlogic is a patented operating system for apparel designed to make garments fit the same by shape and size across brands. According to Fitlogic, 94.8% of women fall into one of three shapes—a high hip curve, smaller bottom and medium thighs, an hourglass shape with a mid-hip curve or a smaller waist, and abundant bottom and larger thighs. Leveraging a scientific fit system that takes into account a consumer’s shape and size, Fitlogic allows consumers to determine the right fit based on height, body proportions and the size they traditionally wear for dress pants. Following a Fitlogic quiz, consumers can buy the Little Black Pant—which was a launch vehicle for Fitlogic—that works best for their style needs. The pants, which range from sizes 0 to 18 and retail at $49.95, are available in three styles—ankle, classic and crop for versatile dressing. “Little Black Pant is designed to get a woman in her fit and educate her that the style and the shape are two different things. The industry typically uses a style to determine the shape and we do it the other way around,” said Cricket Lee, Fitlogic founder and chief executive officer. “Once a woman has her size and shape in Fitlogic, she can shop styles that fit her shape.” In addition to the Little Black Pant, Fitlogic plans to offer plus size apparel this Fall and move into other apparel categories, including dresses and menswear, in the future. “Our expansion into tops, dresses and more will enable [the consumer] to forget her fit and let us lead her to brands that carry her personal Fitlogic size and shape,” added Lee. “Fitlogic fits 95 percent of women in each category and has been proven to reduce returns to under 10 percent once a woman has her fit.”
Source: Sourcing Journal
