Apparel exports decline 4% to $16.7 bn; yarn shipments rise Textile and clothing exports slid 0.4% in the last financial year (2017-2018) to $35 billion as apparel exports fell. While exports of cotton yarn, fabrics and made ups grew 4%, outbound apparel shipments registered a 4% decline, reducing from $17.3 billion to $16.7 billion.
‘Cotton on upswing’
“Exports of cotton textiles are positive. But we need to get the momentum back in garments. When garments move, every segment [of the textile value chain] moves,” said Siddhartha Rajagopal, executive director of the Cotton Textiles Export Promotion Council. Garment exports from Vietnam and Bangladesh were increasing, he pointed out. A spokesperson of the Apparel Export Promotion Council said garment production had declined in the last 10 months. Further, international orders were not bad. “We could not bag the orders as our pricing was not competitive,” the spokesperson said. A garment exporter who used to get ₹7 or ₹8 a piece from drawback is getting just ₹2 or ₹3 a piece now. There is positive feedback from the government on increasing the drawback rates. But this is yet to happen. S.K. Jain, chairman of Confederation of Indian Textile Industry, said the industry was working with the government for revision of drawback rates and higher Rebate of State Levies. It has also sought amendment of the South Asia Free Trade Agreement with rules of origin clear for garment imports from Bangladesh. The fabric should be from India or Bangladesh. “Exports have slowed down for almost four years. Some serious thought should go into this by the Government and the industry,” he said.
Source: The Hindu
India’s apparel exports have dropped about four per cent to $16.7 billion in 2017-18. This is alarming, as this is the first reversal after years of relatively steady 7-8 per cent growth, and more so as apparel exports still account for around 15 per cent of India’s total exports. The recent downturn is largely a consequence of the funds crisis faced by apparel manufacturing and exporting units, a situation created by a combination of delays in processing of refund of taxes and curtailment of duty drawback with the implementation of the Goods and Services Tax in July 2017. The fall will continue if urgent measures are not taken to ease the flow of funds to the units, leading to not only loss of markets to more competitive exporters such as Bangladesh and Vietnam, but closure of units and widespread job losses in this labour-intensive sector. The curtailment of duty drawback dealt a further blow, as compensation for Central taxes and State levies paid was reduced from 11.2 per cent of the value of exports to about 3.5 per cent (two per cent for Central taxes and 1.5 per cent for State levies) initially with the introduction of GST. Some relief of duty drawback came when the Union government increased the drawback rate to four cent for Central taxes under the Merchandise Exports from India scheme when the mid-term export policy was announced in end-November. However, a status quo on rebate for State levies is worrisome for apparel units. The funds crunch has left apparel manufacturers and exporters with no option but to increase prices by about five per cent, particularly because bank finance without collateral is prohibitively expensive. But in a fiercely competitive market, price increases lead to loss of market. That is what is happening to Indian apparel exports. While intervention of the Prime Minister’s office ensured that much of the Central GST refunds have been released last month, exporters are still facing trouble getting refunds on the State component. An early resolution is needed to prevent a deepening of the crisis in the apparels export industry, particularly at a time when global demand has picked up. Textiles and apparels industry is also one of the largest employers, particularly of women, after the agriculture sector, and its continued health is important for creation of jobs. India’s apparel industry has also to contend with faster growth of exports from Bangladesh and Vietnam. Both countries experienced about 15 per cent compound annual growth rate between 2012 and 2016 compared with India’s seven per cent. Better infrastructure and smoother clearances with less paperwork are among factors helping exports from those countries. Exports from Bangladesh also have the added advantage of a free trade agreement with the European Union, lower labour costs and higher productivity. India, in comparison, faces the prospect of reduced competitiveness as it needs to phase out export subsidies.
Source: Business Line
BHUBANESWAR: The Materials Chemicals Performance Intermediaries (MCPI) Private Limited has evinced interest in setting up a polyester continuous polymerisation and allied yarn project at the textile park in Bhadrak district.The company has submitted an investment proposal of `1,000 crore to the State Government through the online portal - Government of Odisha Single Window for Investor Facilitation and Tracking (GO-SWIFT) seeking an early approval of the project. With an employment potential of around 200 people, the project will act as an anchor project and help supply feed stock or raw material to the downstream textile industries. “The project will not only provide big boost to the textile park, but also help in overall development of the region. The State Government is evaluating the proposal for providing speedy approval and equally keen on ensuring the grounding of the project,” said a senior official of the Industries Department. Once the polyester continuous polymerization and allied yarn project is set up, it would attract other downstream industries to the park. The industries to come up in the textile park are expected to generate employment to around one lakh people and help in the realisation of the State’s dream of transforming the region into a textile hub. A delegation from the State had met the authorities of Materials Chemicals and Performance Intermediaries Private Limited (MCPI) during an investors’ meet at Kolkata on January 31. Subsequently, officials from MCPI had visited the site and held discussions with the State Government. The State Government has developed a textile park in Bhadrak district to attract investments in its focus sector of textiles and apparel. It has also been pitching for investments by organising investors’ meet across the country. The textile park offers unique advantages to the investors for its proximity to the industrial hubs and abundant availability of land, labour and other utilities like power and water. Developed in an area of around 115 acres, the textiles park is expected to house more than 20 industries. MCPI Private Limited has evinced interest in setting up a polyester continuous polymerisation and allied yarn project at Bhadrak textile park
Industrial boost
Company has submitted an investment proposal of `1,000 crore to State Govt Projected employment potential of 200 people. Project will act as an anchor project and help supply feed stock or raw material to the downstream textile industries
Source: The New Indian Express
Anannualized volatility of about 13 percent in cotton prices during 2017-18 is much more than the margins of most textile mills. Multi Commodity Exchange of India Ltd (MCXNSE 2.70 %) has entered into an MoU with the Northern India Textiles Mills’ Association (NITMA) for educating NITMA’s members and other relevant stakeholders on the use and benefits of cotton derivatives. Cotton constitutes about 59 percent in the raw material basket of the Indian textile industry. The global cotton market has been marked by high price volatility and uncertainties, largely on account of factors beyond the control of any stakeholder group or even government. Anannualized volatility of about 13 percent in cotton prices during 2017-18 is much more than the margins of most textile mills. These exemplify the dire need for them to hedge the price risk in order to protect their bottom lines. Textile millers also have a perceived need to access appropriate cotton prices which have been discovered in a transparent and regulated exchange platform with large and diverse participation. MCX not only provides a robust and efficient platform for price discovery and risk management in cotton but also undertakes several educational and awareness activities to sensitize stakeholders about the modalities of using the derivatives platform. All the large textile mills in the Northern part of India are associated with NITMA and the combined turnover of its members is approx. Rs. 33,000 crores in Domestic market and 3400 crores of exports. The MoU with NITMA will enable the Exchange to reach out to a large stakeholder group, representing more than 100 members and their stakeholders in the cotton value chain across North India - one of the most prominent cotton growing, processing and textiles regions of the country. Speaking on the occasion, Mr. Mrugank Paranjape, MD & CEO, MCX said “For more than six and half years now, MCX cotton futures has proven to be one of the most useful instruments for price discovery and risk management for multiple stakeholder groups across the cotton value chain, including cotton textile mills. India’s textiles and clothing (T&C) exports exceeded $36 billion in 2016-17, constituting about 14 percent in the overall Indian export basket. The preponderance of cotton as raw material in the textiles industry and continuing high volatility in cotton prices mean that it is imperative for the managers of cotton mills to create appropriate risk management strategies for ensuring business sustenance. In this context, we are happy to partner with the Northern Indian Textiles Mills’ Association. Given the long history and prominence of cotton textile industry in North India in terms of production, employment and exports, as also the active presence of NITMA in this region, I am sure we shall be able to effectively propagate and educate our common stakeholders about the benefit they can derive from cotton derivatives.” Mr. Rajiv Garg, President, NITMA said, “We are very happy to partner with MCX, India’s leading exchange that provides a deliverable and most liquid cotton futures contract. The MoU with MCX will enable our members to effectively participate in the Exchange’s knowledge-sharing initiatives to understand the benefits, techniques and strategies of risk management using derivative contracts. The cotton consumption by our members is approximately 25% of the total cotton produced by India. As such, we appreciate the criticality of risk management not only for the business enterprises of our members but also the textiles sector in North India and country’s cotton economy in general. Towards this end, we shall be able to leverage the MoU to gain relevant knowledge from MCX about participating in the cotton derivatives market and reap the benefits from such participation.”
Source: The Economic Times
The rupee continued its losing streak for a fourth straight session to hit a fresh 13-month low of 65.80 a dollar today, dropping 14 paise as growing worries over higher crude prices and likely fiscal slippages led to subdued forex market sentiments. The Indian currency logged its lowest closing since March 14, 2017, when it had closed at 65.82 against the US dollar. The rupee emerged as the worst performer among the major Asian and emerging market currencies. The rupee has depreciated by a staggering 60 paise in the recent spell of downtrend. World crude prices rose to a new 2018 peak of USD 74 a barrel, following reports of a sharp fall in US crude inventories coupled with Middle East tensions and also growing optimism ahead of major oil producers' meet on Friday.The rapid surge in global crude oil prices has already had an adverse impact on India's import bill and can further hit the country's fiscal arithmetic, a forex dealer commented. During 2017-18, oil imports recorded a growth of 25.47 per cent to USD 109.11 billion.Brent crude, an international benchmark, was trading at USD 74.58 a barrel in early Asian trade - highest level since November 2014. Besides, heightened worries that worsening terms of trade would be a drag on the current-account deficit against the grim backdrop of crude headwinds largely weighed on the forex trade. The Indian currency has been weighed down by a variety of other factors, including concerns that faster-than-expected tightening of US monetary policy and President Donald Trump's protectionism will hurt the Indian economy the most and vulnerable to capital outflows. "The rupee continued its weakness ...against the greenback on the back of firm oil prices ahead of OPEC meeting, higher US bond yields and foreign outflows. US dollar's firmness takes cues from the Fed's Beige book, which outlined the economy to be positive despite recently imposed tariffs," Anand James, Chief Market Strategist at Geojit Financial Services, said. On the domestic front, foreign institutional investors pulled out Rs 2,404 crore from the equity markets while in debt markets, they sold worth Rs 4,070 crore in the current week, putting further pressure on rupee, he said. The home currency started the day lower at 65.78 as compared to overnight close of 65.66 at the inter-bank foreign exchange (forex) market. It later took a deep plunge to hit a fresh session's low of 65.86 in mid-afternoon deals on panic dollar buying before concluding at 65.80, revealing a steep fall of 14 paise, or 21 per cent. In the meantime, the benchmark 2028 bond yield surge to close at 7.63 per cent. The RBI, meanwhile, fixed the reference rate for the dollar at 65.7837 and for the euro at 81.3876. The dollar index, which measures the greenback's value against a basket of six major currencies, was up at 89.31.In the cross currency trade, the rupee retreated against the pound sterling to settle at 93.68 from Wednesday's close of 93.31 and also fell back against the euro to finish at 81.41 as compared to 81.28 yesterday. The local unit, however, ended steady against the Japanese yen at 61.27 per 100 yens. In forward market today, premium for dollar displayed a mixed trend owing to lack of market moving factors. Both the benchmark six-month forward premium payable in August eased to 93-95 paise from 94-96 paise, while the far-forward February 2019 contract edged up to 217-219 paise from 216-218 paise yesterday.
Source: The Economic Times
If plants making pumps, wet grinders and engineering components making plants were the driving force behind the thriving manufacturing sector in Coimbatore, 600-odd foundries were the backbone of all these units. But these are facing a bleak future and the employees there are uncertain about their fate. The sharp increase in raw material costs and pending GST refunds are weighing heavily on the units. The prices of raw materials like pig iron and chemicals have gone up by 40% to 100% in the past three months. Unable to bear the price rise and mounting debts, more than 400 foundry units have decided to shut their business for two days from Friday in protest, demanding the government address their needs. While more than 2 lakh workers in the foundries would lose their wages for two days, most of the manufacturing units of pumps, wet grinders and textile machinery where more than 5 lakh people work, are likely to take a hit as these cannot function without the casts supplied by foundries. “We have been requesting both the state and central governments for months, but they are not heeding our demands,” said A Siva Shanmugakumar, president of Coimbatore small and medium foundry owners’ association. The units are likely to lose more than Rs 100 crore during the shutdown. The prices of raw materials, especially pig iron, scrap and coke (a solid carbonaceous material derived from coal), have been steadily increasing since the implementation of GST; in the past three months alone the prices have shot up by 20%. Shutting down iron ore quarries in Goa is cited as the prime reason. As coke produced in the country is not fit to use in foundries, it is being imported from China and Australia, and the imports have reduced after the coal mines there were shut to control pollution, Siva said. To make the most out of the situation, middlemen have hiked the price of these materials. “Before implementation of GST, the units which had less than Rs 1.5 crore as their annual turnover had to pay only 5% as Value Added Tax (VAT) and were exempted from paying 12.5% excise duty. But the exemption was removed post GST and the foundry units, without any difference, have to pay 18% as tax,’’ said a small-scale foundry owner. “The government has to bring the small and medium units under the 5% slab,’’ he said. CITU district secretary C Padmanaban said the situation has cast a shadow over the livelihood of workers in the foundry units. “If this situation continues, many of them will lose their jobs,” he said. The CITU has extended support to the two-day strike. Apart from taking necessary steps to reduce the price fluctuations, the government should also create a raw material bank to manage the situation when the demand increases. “We extend our complete support to the demands of foundry units,” said K Maniraj of the Kovai Power Driven Pump and Spare Parts Manufacturers' Association (Kopma), explaining that with the increase in price of castings, the price of pumps and spare parts would also increase as a product needs to more than 50% casting.
Source: The Times of India
Cotton Corporation of India (CCI) has purchased 11 lakh bales of cotton so far this cotton season (October to September) and sold four lakh bales. Chairman and Managing Director P. Alli Rani of CCI, who was in the city recently for an interactive session with textile mills in the State, spoke about the focus on quality of cotton sold by the CCI. She also felicitated the top five customer mills of the CCI. Nearly 200 mills in the State are registered with the CCI and 30 to 35 buy cotton regularly through e-auction. The CCI officials and textile mills discussed the present cotton scenario and cotton sales by the CCI this season. The mills also learnt more about the e-auction system of the CCI for sale of cotton that it procures.
Source: The Hindu
According to Angel Commodities, MCX Cotton closed lower for the second consecutive session on Wednesday to touch more than a two - week low due to profit booking by the market participants. MCX Cotton closed lower for the second consecutive session on Wednesday to touch more than a two - week low due to profit booking by the market participants. Moreover, forecast of normal monsoon also weighing on prices. Cotton exports from the country are likely to touch 70 lakh bales in 2017/18, up about 27% from the earlier estimate, due to a surge in demand, particularly from China, as Indian cotton is selling at discount. Moreover, expectation of shrinkage of cotton acreage by at least 10 - 15 lakh ha in coming kharif season in the country due to pest attack also supports prices. Cotton futures are expected trade sideways to lower on expectation of some technical corrections after the reports of normal monsoon. However, improved cotton exports to China may keep the prices supported above 20,000 levels.
Outlook
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Source: moneycontrol.com
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1412.81 |
USD/Ton |
0.40% |
4/19/2018 |
|
VSF |
2276.42 |
USD/Ton |
0% |
4/19/2018 |
|
ASF |
2865.42 |
USD/Ton |
0% |
4/19/2018 |
|
Polyester POY |
1459.77 |
USD/Ton |
0% |
4/19/2018 |
|
Nylon FDY |
3581.78 |
USD/Ton |
-0.44% |
4/19/2018 |
|
40D Spandex |
5890.03 |
USD/Ton |
0% |
4/19/2018 |
|
Nylon POY |
3788.72 |
USD/Ton |
-0.42% |
4/19/2018 |
|
Acrylic Top 3D |
6017.38 |
USD/Ton |
0% |
4/19/2018 |
|
Polyester FDY |
1711.29 |
USD/Ton |
0% |
4/19/2018 |
|
Nylon DTY |
3358.91 |
USD/Ton |
-0.47% |
4/19/2018 |
|
Viscose Long Filament |
2992.77 |
USD/Ton |
0% |
4/19/2018 |
|
Polyester DTY |
1735.17 |
USD/Ton |
0% |
4/19/2018 |
|
30S Spun Rayon Yarn |
3056.45 |
USD/Ton |
0% |
4/19/2018 |
|
32S Polyester Yarn |
2204.78 |
USD/Ton |
0.36% |
4/19/2018 |
|
45S T/C Yarn |
3040.53 |
USD/Ton |
0% |
4/19/2018 |
|
40S Rayon Yarn |
2340.09 |
USD/Ton |
0% |
4/19/2018 |
|
T/R Yarn 65/35 32S |
2562.96 |
USD/Ton |
0% |
4/19/2018 |
|
45S Polyester Yarn |
3199.72 |
USD/Ton |
0% |
4/19/2018 |
|
T/C Yarn 65/35 32S |
2722.15 |
USD/Ton |
0% |
4/19/2018 |
|
10S Denim Fabric |
1.48 |
USD/Meter |
0% |
4/19/2018 |
|
32S Twill Fabric |
0.91 |
USD/Meter |
0% |
4/19/2018 |
|
40S Combed Poplin |
1.27 |
USD/Meter |
0% |
4/19/2018 |
|
30S Rayon Fabric |
0.71 |
USD/Meter |
0% |
4/19/2018 |
|
45S T/C Fabric |
0.75 |
USD/Meter |
0% |
4/19/2018 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15919 USD dtd. 19/4/2018). The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Bangladesh is the second largest exporter of apparel to the world. It is also one of the world’s largest importers of the raw-materials needed to make apparel. The data of Bangladesh Textile Mills Association (BTMA) says that Bangladesh’s raw cotton requirement stands at 11.50 million bales, if 100% capacity is utilized. Bangladesh can barely meet 1-3% of this demand. Bangladesh’s textile and apparel sector’s condition is very closely linked to the global demand and supply situation of its chief raw material: Cotton. It faces various risks, in the form of price volatility, currency fluctuations, and political relations. Bangladesh is the second largest exporter of apparel to the world. It is also one of the world’s largest importers of the raw-materials needed to make apparel. The data of Bangladesh Textile Mills Association (BTMA) says that Bangladesh’s raw cotton requirement stands at 11.50 million bales, if 100% capacity is utilized. Bangladesh can barely meet 1-3% of this demand. A recent example is the sudden cancellation of a shipment of 400,000 bales of cotton by Indian traders in January 2018, which would negatively affect Bangladeshi yarn production and negatively impact apparel exports. Prices surged more than 15% in weeks prior to this event, after pest infestations put pressure on its supply and the world’s largest producers of the fibre. Such an impact is massive for a nation like Bangladesh, which has emerged as a big buyer of Indian cotton (thanks to competitive prices and lower freight costs), sourcing nearly half of its annual import requirement of 7 million bales from India.
What can Bangladesh do to hedge against such risks?
The logical answer lies in building up our capabilities to reduce dependence on imports. Primary textile sector in Bangladesh has 425 spinning mills, 790 weaving mills, and 250 dyeing mills.
Why, despite the obvious demand for raw cotton, does the sector remain underdeveloped in Bangladesh? Why is Bangladesh yet to realize its true potential of this crop which is often termed as “white gold” because of its lucrative potential?
The answer could be excessive emphasis on growing “food crop” to ensure food security by the government. But it is time to take a broader view of food security. Organically grown cotton can serve several important needs and in fact aid in solving the problem of food security. During the early and mid-90s, farmers in Bangladesh moved away from cotton as it takes six months to harvest cotton crop and only two yields were possible in a year, so farmers shifted to short duration, high value crops like vegetables. But in recent years, as the demand for raw cotton has increased exponentially and prices have gone up, some Chinese hybrid and BT cotton varieties (which have higher yield) were introduced. Cotton is a saline and drought resistant plant and can be grown in char areas, coastal areas, and hilly areas of the country. Bangladesh has huge char areas in Jamalpur, Pabna, Hemayetpur; and new char areas are being formed in Padma, Teesta, Jamuna, and Garai rivers. By-products of cotton like edible oil, which is low in cholesterol and is good for diabetic and heart patients, can be an additional source of income for rural economy. Oil cakes which are by products of cotton oil seeds can be used by farmers as cattle feed, which can increase their milk production capacity by up to 20%. Cotton tree wood can be used as fuel by farmers as well. The case for converting Bangladesh’s over-dependence on raw cotton import into an opportunity is very clear; some of my suggestions are as follows.
Looking forward
1. Build strategic partnerships for raw-cotton supply with select suppliers across different geographical markets. This maintains a healthy competition between raw-material suppliers as well as hedges risk of over-dependence on one supply base.
2.Utilize our waste cultivable land in hilly tracts and other regions to grow cotton which is not being utilized for main food crops, such as hilly, saline, char, agro-forestry, and tobacco replacement areas.
3.Adopt organic cotton farming methodologies, which do not depend on using any chemical fertilizers and cater to global organic cotton market and charge a premium for it.
4.Incentives by the government to use higher domestic content in terms of raw materials for export value added products.
5.Diversify and develop our capabilities in other fibres such as jute, bamboo — which are gaining prominence in world apparel market.
6.Develop strategic partnerships with other important fibre producing nations and companies to create mutually beneficial deals that enable technology and skill transfer into Bangladesh in return for yield or profit-sharing.
7.Vertical integration of our spinning mills with their own cotton farms.
8.Foreign direct investment (FDI) in agriculture could be encouraged.
So, while the raw cotton can be termed as an opportunity disguised in vulnerability and with “sustainability,” “transparency” becoming buzzwords in the global apparel industry, a huge opportunity also lies for Bangladesh to set an example in showing the world what it takes to invest, innovate, and prosper. Mostafiz Uddin is the Founder & CEO of Bangladesh Apparel Exchange (BAE) and Bangladesh Denim Expo. He is the Managing Director of Denim Expert Limited.
Source: Dhaka Tribune
LAHORE: There’s no sign of the much-hyped Chinese investment that was expected to end up in the basic textile sector of Pakistan, which, being the fourth largest cotton producer and home to low-cost skilled labour, should be the most ideal country for the relocation of that industry. The Chinese, on the face of it, are adhering to a wait and see policy as Pakistan’s basic textiles are under severe stress and in all likelihood they may be waiting for more units to die so that they could acquire them for peanuts. In Punjab alone the number All Pakistan Textile Mills Association members has dropped to 204 from 296 a year back. More than 115 textile mills have closed for good and many have disposed of their machines at junk rates. Still their deserted sites are ideal for establishing modern textile units. They closed because they were operating on obsolete technology and lacked resources to bring in the new one. Apart from that they have the basic infrastructure to operate a modern unit. They have sheds and storage space and gas, power, and water connections. If interested, the Chinese can enter into joint ventures with the sponsors of the closed mills. The infrastructure and the facilities available could be assessed by any reputable financial consultant and be considered the share of Pakistani partner in the joint venture. The Chinese could chip in with the state-of-the-art spindles. The average cost of 25,000 spindles would be Rs2 billion that Pakistan spinners do not have. The mills could be started within six months of investment and would be viable from day one. This is because the modern spindles consume 40 percent less power and require only one-third of the workforce than that working in most of the existing spinning mills in Pakistan. It makes business sense for Chinese to start spinning yarn in Pakistan. It is indeed strange that they have entered into joint ventures in spinning in Vietnam their Far Eastern neighbor that lacks skilled basic textile workers, does not grow cotton and wages in Vietnam are three to four times higher than Pakistan. Many Pakistani basic textile entrepreneurs including the close mills have shown keenness to enter into joint venture with the scores Chinese entrepreneurs that have been visiting Pakistan for this purpose. Why are the Chinese stalling on a lucrative opportunity? They seem to be in no hurry. They are perhaps waiting for Islamabad to grant concessions to the textile sector particularly for power tariff. The Chinese know that if the basic textile industry is not provided this support then it would not be possible for the mills that are still operating to go on for long. They are perhaps waiting for few more closures and then start making low offers to the sponsors of closed mills. Instead of entering into joint ventures they would try to buy the entire facilities minus obsolete machines at very low rates and then install modern spindles as sole owners of the facility. The Chinese know that Pakistan is the only destination where they could establish low value-added basic textile units, but they are practising patience as they do not want to increase the value of existing basic textile facilities. They have investment in hand. They would demand concessions from the government to bring it in, but they would first want the state to spell out its concessions for the existing place so that they could ask over and above those concessions. It would be prudent for the planners to make it absolutely clear that no foreigner including the Chinese would get any additional concession that is not available to the local investors. Pakistan is the only destination available to the Chinese for investment in textile including basic textiles. Pakistani entrepreneurs should woo investors from developed economies for joint ventures in basic textiles. The day we entered into one joint venture we would see scores of Chinese companies following the suit within a week.
Source: The News International
Angola plans to contact China and Japan to request support to proceed with the re-launch of the country’s cotton crop, a project included in the economic diversification programme, according to an article published in the China-Lusophone Brief (CLBrief), a news service on China and the Portuguese-speaking countries. The article quotes the Angolan Secretary of State for Agriculture, Carlos Alberto Jaime, speaking on the sidelines of the visit of the vice president of the Republic to the agricultural fair of the province of Malange. The Secretary of State said that 10,000 hectares of cotton are already being cultivated along the perimeter of the Capanda Agro-industrial Hub in the municipality of Cacuso and in the Cassange Basin, an extensive cotton area east of Malange, before Angolan independence. Jaime noted that the business sector in Malange had lost some momentum since the beginning of the economic crisis in 2014, leading to low production of agricultural companies. H gave assurances that the Ministry of Agriculture intends to support entrepreneurs so that, with the participation of peasant families, it is possible to return to previous rates of cotton production. The government-led programme to renew, expand and equip the textile industries in Angola was financed by a credit line from the government of Japan and includes three large factories: Textang II, in the country’s capital,Sociedade Angolana de Tecidos Estampados Comerciais (Satec), located in the province of Kwanza Norte and Alassola in Benguela. (macauhub)
Source: Macau Hub
LAHORE : He said cotton growers are advised to sow cotton seed of approved varieties which have already been announced by the department. He further said that due to hard work of department and government initiatives cotton production increased up to 14% during financial year 2017-18 as compared to 2015-16. Secretary Agriculture Punjab Muhammad Mahmood has said that cotton growing has started throughout the province and the department is striving hard to achieve target of cotton sowing on area of 6 million acres. He was speaking at a seminar arranged by the department to create awareness among cotton growers on Wednesday. Seminar was attended by Members of National Assembly Pir Syed Imran Ahmad Wali Shah & Chaudhry Muhammad Ashraf, Member of Provincial Assembly Malik Arshad, Vice Chancellor Muhammad Nawaz Sharif University Professor Dr Asif Ali, Director General Agriculture (Ext & AR) Syed Zafaryaab Haider, Director General Agriculture (Research) Dr Abid Mehmood, Director Cotton Dr Sageer and large number of farmers. Secretary Agriculture Punjab further said that department is acting on zero tolerance policy against adulterated pesticides and fake fertilizer sales. In this regard, pesticide inspectors till March 15, made 121 raids and registered 121 FIR while confiscated more than Rs 30 million adulterated pesticides. Mahmood was of the view that cotton bumper crop during this financial year is top priority of Punjab government because whole economy depends on its high production. He disclosed that provincial government is also devising "2025 Cotton Mission" plan. For immediate relief of cotton growers, government is providing approved varieties of cotton seed up on 50% subsidized rate and also providing subsidy voucher at Rs 700 per cotton bag to cotton growers of the core cotton area. More that Rs 14 million is being spent for provision of agricultural machinery to cotton growers. To save cotton crop against pink bollworm attack, Rs 96.2 million spent on PB ropes that were installed in 50 districts of Punjab on 50 acre blocks. Moreover, the provincial government has also provided 110,000 smart phones to the farmers equipped with special applications through which extension services are being provided to cotton growers and other crops. For cotton high yield seed production Rs 350.889 million is being spent on "Commissioned Research Programme". For white fly control, Punjab government is spending Rs 39.612 million to provide genetic modified varieties of cotton crop. In nut shell, Government of Punjab is taking various measures to boost up cotton production and save cotton industry. Mahmood also disclosed that to provide best facilities to cotton growers, this year cotton inspectors training session was also completed and more than 0.4 million literature about latest production technology of cotton crop at village level distributed. 100 spray machines were also distributed among participant free of cost through lucky draw in the seminar.
Source: Business recorder
Danish retailers pay the highest among the 28 European nations when it comes to garment items and the British ones the lowest, according to a survey by the International Apparel Federation. The retailers from Denmark pay on average 9.56 euros per unit, followed by Italy at 9.15 euros and Germany at 8.63 euros. The UK retailers pay the lowest of 5.42 euros. The IAF, the global federation of the apparel industry with presence in more than 60 countries, conducted the survey based on the average price of a pair of trousers imported by the European retailers in 2016. The survey result was published last December. In fiscal 2016-17, Bangladesh exported $17.75 billion worth of apparel products to the EU, which is 50.96 percent of the total receipts, according to data from the Export Promotion Bureau. “I do not agree with the findings of the survey,” said Mostafiz Uddin, managing director of Chittagong-based Denim Expert. The UK is among the biggest apparel markets in the EU whereas Denmark's market size is not so large. “The British retailers place work orders in bulk while their Danish counterparts place in small quantities.” For instance, if the British retailers place work orders for 150,000 units of trousers, the Danish retailers will place work orders for 2,000 units. “We are not getting the real picture from the survey.” When it comes to sourcing from Bangladesh, the brands give the suppliers only 30 percent of the retail price, according to Mostafiz. For example, if an European buyer purchases a garment item for Tk 6, he/she will sell it at Tk 20 or above in any European market. Mostafiz said he sells denim trousers for $14 to $24 per unit. For value-added items, the price is $24. Of the total export from Bangladesh in a year, 40 percent garment items are high-value added items, according to industry insiders. In an open market system the buyers will go to a country from which they can purchase at lower prices, said Siddiqur Rahman, president of the Bangladesh Garment Manufacturers and Exporters Association. “So, the European retailers are no different,” he added. The IAF survey also said various structural, economic, political, sociological, technological or regulatory factors have been impacting the European clothing market in 2017 and 2018. The major ones are: economic and currency fluctuation, implementation of the EU-Vietnam free trade agreement, GSP plus for Sri Lanka, Brexit and the end of the Trans-Pacific Partnership Agreement. The other factors are: possible introduction of the Border Adjustment Tax in the US, insecurity in some production areas, political tensions between the EU and Turkey, more stringent corporate social responsibility requirements, automation of production in Asia and revival of the Silk Road.
Source: The Daioly Star
In just over one month, the 15th edition of Techtextil North America and the fourth edition of Texprocess Americas will return to Atlanta, GA. The co-located events will be held at the Georgia World Congress Center and feature over 500 exhibitors, representing all aspects of the technical textiles, nonwovens, sewn products, textile technology and equipment sectors. In addition to industry-leading companies showcasing their latest products and technological advancements, the joint schedule includes a wealth of special feature and interest areas.
Symposium sessions
Techtextil North America and Texprocess Americas are each hosting eight symposium sessions with additional bonus opportunities, which will include two lunch n’ learn style sessions, as well as talks held on the show floor. These sessions are presented by industry experts throughout the technical textile, nonwovens and sewn product equipment industries. Session topics at the Techtextil North America symposium include emerging and new developments in nonwovens, new fibre technologies, smart textiles, and technical textiles: enabling future mobility in electric and smart cars. The Texprocess Americas symposium sessions will cover automation, smart machines and robotics in sewn products manufacturing, wearable tech and textiles, and tariffs, duties and barriers.
Tech Talks
The success of Tech Talks at Techtextil North America 2017 warrants its return in 2018. For three days, the Nonwoven’s Institute will host complimentary daily mini sessions covering innovations in technical textiles and nonwovens. And for the first time, Texprocess Americas will also feature its own Tech Talks, powered by The Fashion Institute of Technology in collaboration with Voice of Insiders.
Graduate student poster programme
The poster programme highlights research done by graduate students from the top textile engineering, manufacturing and design programs in the country. This year’s participants come from North Carolina State University’s College of Textiles, The University of Georgia, and The University of Oklahoma. The programme provides a forum for students to present and discuss their latest research, meet with peers who have related interests, and introduce themselves to more senior members in the field. For potential employers, the programme presents a unique glimpse into the industry’s top academic programs and up-and-coming talent.
High-Tex fromGermany
Sixty-six companies from the German textile, textile-machinery and garment-technology industries will show their products and services at the High-Tex from Germany exhibition, located on the Techtextil North America show floor. The pavilion will feature German manufacturers of high-performance textiles and fibres, machines for processing technical textiles spanning the entire textile manufacturing and processing chain, and will include its own set of lectures, demonstrations and multi-media presentations.
Texprocess Americas
Texprocess Americas 2018 will feature replicas of the costumes from the new film The Greatest Showman brought by Gerber Technology. Gerber combined forces with Global Garment Engineering and 20th Century Fox to replicate costumes worn by Hugh Jackman, Zac Efron, Michelle Williams, Rebecca Ferguson and Zendaya in the film The Greatest Showman. By leveraging Gerber's integrated digital solutions, the replicas can now be done in a fraction of the time and at a much lower cost. Attendees will also have the chance to see how a modern micro-factory can address the need for mass customisation in an efficient, cost effective, and socially-conscious manner, right on the show floor. The multi-exhibitor collaboration will show how to quickly and efficiently go from design to production, and concept to consumer through demonstrations in product design, digital printing, automated vision-aided cutting, material transport and robotic sewing. Data will be passed from system-to-system, automating the workflow, minimising the need for human interaction helping to improve quality, reduce costs, and improve time to market. Participating companies include Gerber Technology, Henderson Sewing Machine Co., Kornit Digital, Nextwave, and Zund America.
Source: Innovations in Textiles
