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MARKET WATCH 15 MAY, 2018

NATIONAL

INTERNATIONAL

Irani takes stakeholders' feedback on scheme for capacity building in textiles

Union Minister Smriti Irani today sought feedback from stakeholders on ‘Samarth', a scheme for capacity building and skilling in the textile sector. The scheme targets to train 10 lakh persons (9 lakh in organised and 1 lakh in traditional sector) over a period of three years (2017-20), with an outlay of Rs 1,300 crore. The guidelines of the scheme were released on April 23 this year. The broad objective of the new scheme under the Skill India Mission is to skill the youth for gainful and sustainable employment in the textile sector covering the entire value chain of textiles, excluding spinning and weaving. “The concerns of the stakeholders and challenges faced by them during implementation of the previous scheme were discussed in the meeting. “Feedback from the concerned stakeholders on how the scheme can contribute and benefit the textile industry and boost skill development in the respective sector was also discussed,” an official statement said. The scheme, approved by the Cabinet Committee on Economic Affairs on December 20 last year, is intended to provide demand driven, placement oriented National Skills Qualifications Framework (NSQF) compliant skilling programmes to incentivise and supplement the efforts of the industry in creating jobs in the textiles sectors.

Source: moneycontrol.com

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Indian govt extends MEIS rate at 4% beyond June 30

The Directorate General of Foreign Trade (DGFT), under the ministry of commerce and industry, Government of India, has extended the incentive at 4 per cent under the Merchandise Exports from India Scheme (MEIS) under Foreign Trade Policy of India (FTP 2015-20), beyond June 30, 2018. AEPC and the Tiruppur Exporters Association (TEA) have welcomed the announcement. The MEIS incentive under Foreign Trade Policy of India (FTP 2015-20) was valid from November 1, 2017 to June 30, 2018, as per earlier Public Notices issued by the DGFT. Welcoming the extension of MEIS on garments and madeups beyond June 2018, Apparel Export Promotion Council (AEPC) Chairman HKL Magu said, “On behalf of the apparel export industry, AEPC gratefully acknowledges the support given by the Government by extending the MEIS scheme indefinitely beyond June, 2018." “At present, the industry is going through a tough period with its competitiveness greatly eroded. This is reflected in the unprecedented month-on-month decline in the apparel exports every month after October 2017. The extension in MEIS scheme has given us a breather and sanction of our request to ensure that all embedded, non-reimbursed Central and state levies be refunded which will help in restoring the competitiveness of Indian exports. This will enable us to increase India’s share in the world market and given our high employment intensity, create significant employment opportunities across India,” Magu added. “We have been requesting the Central Government to extend the validity period as the exporting units are struggling to sustain after reduction of duty drawback rate and ROSL after implementation of GST and also delay in getting GST refund. It was also emphasised personally for continuance of this lifeline support during the meeting with ministers, textiles secretary and other higher officials,” said TEA president Raja M Shanmugham. The continuance of MEIS rate at 4 per cent beyond June 30, 2018 is “a major relief to the exporting units who used to take up orders six months back normally,” he added. He hoped that the government would soon resolve other export related issues. In fiscal year 2017-18 that ended on March 31, the value of apparel exports from Tiruppur was ₹24,000 crore, compared to previous year’s exports of ₹26,000 crore. The knitwear hub of Tiruppur accounts for 46 per cent of all knit garments exported from the country. Exports have fallen in the previous fiscal after registering growth for five years. (RKS)

 Source:Fibre2Fashion

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Textiles Ministry to upgrade apparel training centres

Acceding to the request of apparel exporters, the Ministry of Textiles has approved to upgrade over 200 Apparel Training & Design Centres (ATDCs) across the country, including those in Chandigarh, Punjab, Haryana and Himachal Pradesh. The upgrade includes setting up of state-of-the-art machinery and inclusion of new courses. “Members of the industry told the textile ministry officials that the machinery at these centres was obsolete. Considering the competitiveness of exports, the industry needs highly skilled professionals. For this, these training centres should be upgraded and equipped with the latest machinery so that workforce can be trained on the modern machinery. Acting on the request of the exporters, the ministry officials has asked the Apparel Export Promotion Council (AEPC) to make project report for the upgrade. The ministry also agreed to add knitwear section in these training centres,” said a source present in the meeting, held recently, requesting anonymity.

Source: The Tribune

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India to clock GDP growth of 7.7% in January-March:Nomura

Factors like rising oil prices as well as tighter financial conditions are expected to drag down growth rates. Despite moderation in factory output growth in March, India’s GDP is expected to grow by 7.7% in January-March, up from 7.2% in the preceding quarter, says a Nomura report. According to the Japanese financial services major, despite the moderation in March, industrial production growth averaged 6.2% in the January-March period, up from 5.9% in Q4 (October-December). The uptick in average industrial production growth, implies that the overall industrial activity strengthened in Q1 (January-March), “supporting our view of a pick-up in GDP growth to 7.7% year-on-year in Q1 from 7.2% in Q4”, the report said.

The report further noted that India is expected to witness cyclical recovery led by both investment and consumption. However, factors like rising oil prices as well as tighter financial conditions are expected to drag down growth rates. “While we remain optimistic on the near-term growth outlook, we expect the adverse impacts of rising oil prices and tighter financial conditions to slow growth further out,” Nomura said. According to official data, industrial output growth fell to a five-month low of 4.4% in March due to decline in capital goods production and deceleration in mining activity and power generation. Industrial growth as measured by the Index of Industrial Production (IIP) in 2017-18 too decelerated to 4.3% from 4.6% in the previous fiscal.

Source: The Hindu

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India's WPI inflation for apparel rises 1.1% in April

India’s annual rate of inflation, based on monthly wholesale price index (WPI), stood at 3.18 per cent for the month of April 2018 over same month of last year. The index for apparel increased by 1.1 per cent to 139.3 in April, according to the provisional data released by the Office of the Economic Adviser, ministry of commerce and industry. The official WPI for all commodities (Base: 2011-12 = 100) for the month of April 2018 rose by 0.7 per cent to 116.8 from previous month’s level of 116.0, the data showed. The index for manufactured products (weight 64.23 per cent) for April 2018 rose by 0.3 per cent to 116.1 from 115.7 for the previous month. The index for ‘Manufacture of Wearing Apparel’ sub-group rose by 1.1 per cent to 139.3 from 137.8 for the previous month due to higher price of woven apparel, except fur apparel (1 per cent). The index for ‘Manufacture of Textiles’ sub-group too rose by 0.3 per cent to 114.4 from 114.1 for the previous month due to higher price of viscose yarn, weaving and finishing of textiles, cotton yarn and synthetic yarn (1 per cent each). However, the price of manufacture of cordage, rope, twine and netting, woollen yarn and made-up textile articles (1 per cent each) declined. The index for primary articles (weight 22.62 per cent) rose by 1.4 per cent to 129.2 from 127.4 for the previous month. The index for fuel and power (weight 13.15 per cent) also rose by 0.9 per cent to 98.9 from 98.0 for the previous month due to due to higher price of naphtha, petroleum coke, furnace oil, HSD, kerosene and petrol.  However, the price of LPG declined. (RKS)

Source:Fibre2Fashion

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Manufacturing to shape India’s industrial development

Industrial production data for March’18 is a little disappointing. But keeping in view the fact that not full production data of various items are compiled within the scheduled time, the revised data for March’18 that would be made available after 2-3 months would make up the shortfall in the rising trend. In Jan’18 IIP rose 7.4% followed by a rise of 7.1% in Feb’18. In March, the growth rate was subdued at 4.4%, making the cumulative rise of Industrial Production at only 4.3% for the full year. As manufacturing comprises nearly 78% of total industrial output, it continues to be the primary driver and could achieve 4.4% rise in March resulting in a full-year growth of 4.5%.Last year, IIP and manufacturing grew 4.6% and 4.4%, respectively, and therefore the critical industrial segments like steel, cement and refineries could obtain a higher production rate in FY18 (steel production increased 5.6%, cement production by 6.3% and refineries by 4.6%) due to a rise in manufacturing and IIP during the year. The trend growth of IIP and manufacturing indicates a differential view of specific industrial components. Although electricity generation rose 5.4% during the year, the manufacturing of electrical equipments went down 12.6% during FY18. This happened as there was no indigenous availability of CRGO sheet required for electric transformers. It is to be noted that imports of electrical sheets at 0.6 MT went up by 104%, domestic production of ESS (at only 0.26 MT) dropped by 161% during the period. The domestic consumption of ESS was lower due to lower additions of fresh power projects. The trend needs a speedy reversal with creation of indigenous capacity of CRGO by transfer of technology (foreign collaboration with Japan and South Korea) and higher level of domestic availability of CRNO sheets/ coils. The demand for electrical sheets is also slated to rise in the coming years on account of introduction of electric vehicles (EV). The manufacturing of vehicles, trailers and semi trailers has gone up 12.6% during the full year. It has meant a growth of auto products at 29.1 million units at a yearly rate of around 15%. It is interesting to observe that growth of per capita income ( 5.2% rise in constant prices in FY18) has played a major role in pushing up sales of utility vehicles by 21%, light commercial vehicles by 25.4%, passenger carriers in 3-wheeler segment by 28.6% and scooters and motor cycles by 20%.A big rise is also observed in exports of two/three wheeler vehicles by 20-40%. The manufacturing of other transport (rails and railway products, wagons and coaches, ships, barges, aircraft carriers, submarines, aircrafts etc.,) has shown a respectable growth of 14% in FY18, which should reflect in higher demand for railway materials ( 17.3% growth in the year), plates ( nearly same as last year) and structurals ( 2.2% in the year). The significant growth in consumption of railway materials has emanated from DFC, Metro Rail and doubling of lines by railways and the trend is going to remain on the rise in the coming years as well. The capital goods sector (heavy machinery and equipment) has been experiencing a fluctuating growth. During the last 6 years, its growth went up high at 4.4% in FY18, lowest at (-) 3.7% in FY14. The 4.4% annual growth in FY18 was not high enough to pull the consumption growth of plates beyond the last year’s level. As the value addition in construction sector has grown 4.3% during the year, which has contributed to a robust consumption of TMT bars and wire rods at around 33 MT with 2.2% growth, it is reflected in the rise in output in infrastructure and construction segments by 8.8% in March’18 and 5.5% in the full year. The production of bars and rods of alloy and stainless steel rose by a hefty 44% in March’18 to be commensurate with this rise. The yearly growth in infrastructure and construction sector in FY18 may be compared with 3.9% growth in the previous year. Consumption of long products comprises around 56% of total steel consumption in the country, which strengthens the pattern of development of developing economies orienting towards construction sector. Last year, this share was 58%, and 58.5% in the year before last. Gradually, the country is exhibiting the orientation towards the manufacturing sector in shaping the industrial development of the country. In the next few years, this changing nature of industrial growth would enhance the need of various sub segments in the manufacturing sector for steel categories and, hence, the component of flat products (plates, HRC, CRC, coated products, ESS and pipes) in the total steel consumption is likely to increase.

Source : Financial Express

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Indian Entrepreneur & Chairman of the Maharashtra State Khadi & Village

Entrepreneurs' Organization (EO), the world's leading peer-to-peer network of successful business owners, is honoured to name Vishal Chordia, Chairman of the Maharashtra State Khadi & Village Industries Board (MSKVIB), as the 2018 EO Global Citizen of the Year. The Global Citizen of the Year award is a prestigious accolade presented annually to an EO member whose entrepreneurial spirit, innovative approach, and effective business practices transcend borders, change lives and set an example for EO members and the global business community. Vishal Chordia takes his place among a cast of distinguished past winners who have nurtured entrepreneurial growth in developing nations, built schools and revolutionized healthcare to make it more affordable and accessible for the underprivileged. An active entrepreneur and a founding member of the EO Pune chapter, Vishal Chordia has been empowering rural development in Maharashtra for two decades. He leads Suhana, a multi-million dollar spice export company and last year accepted the position as the Chairman of the MSKVIB. Recognizing the role that crafts and rural entrepreneurs can play in reducing both economic and social inequities, he pioneered the 'MahaKhadi' initiative that is reorganizing crafts and village industries to alleviate poverty and create just working opportunities for craftspeople across the state. "Vishal embodies the EO spirit of 'being significant' and is an outstanding role model for business leaders around the world. His commitment and dedication to his community and his vision to help it flourish and prosper has led to success in his personal endeavours and more recently with his work at the MSKVIB," said Brian Brault, EO Global Chairman. "We are honoured to have Vishal so actively involved with the Entrepreneurs' Organization and to be able to present him with the coveted Global Citizen of the Year award." "Giving back to my community and helping to empower artisans and rural entrepreneurs of Maharashtra is something I am passionate about, making it easy to dedicate my career to these efforts," said Vishal Chordia, Chairman, MSKVIB. "My involvement with Entrepreneurs' Organization has been very meaningful as it offers an environment of learning and growth and provides the perfect platform to inspire and draw inspiration from fellow entrepreneurs to make dreams a reality and also look beyond to make an impact on our communities and economies." The Global Citizen of the Year award was presented at the annual EO Global Leadership Conference (GLC) where over 1,500 entrepreneurs from 54 countries gathered this year to connect with other EO members and gain leadership skills, perspective and awareness.

About Entrepreneurs' Organization

Entrepreneurs' Organization (EO) is a global, peer-to-peer network of more than 12,000 influential business owners in 173 chapters and 54 countries. Founded in 1987, EO is the catalyst that enables leading entrepreneurs to learn and grow, leading to greater success in business and beyond.

Source: PRNewswire

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Researchers to focus on commercial exploitation of banana fibre

Researchers from various central and state institutions from six States converged for a brainstorming session at the ICAR’s National Research Centre for Banana (NRCB) in Tiruchi last week to discuss how best to utilise the enormous amount of biomass generated in banana cultivation by evolving technologies for its commercial exploitation. In her opening remarks, S. Uma, Director, NRCB, observed that the enormous biomass produced in banana cultivation can be converted into wealth to provide supplementary income to farmers. She suggested adopting development of clusters for mechanical extraction of banana fibre and development of fibre banks to cater to the demands of fibre industry and sustainable business models. Speaking to The Hindu , Dr. Uma observed that although banana fibre was being used in making handicrafts and fabrics, there was enormous scope for scaling up its applications and commercial utilisation. The meet, she said, identified two research issues of how to improve the quality of machine extracted banana and promote their use in power looms and take them up for funding. Other applications of banana fibre in production of craters and pro-trays replacing plastics, sheets and composite boards were also discussed, she said. The Central Institute for Research on Cotton Technology, Mumbai, presented technologies for utilising fibre based products, and researchers from Navsari Agricultural University, Gujarat, briefed on the replicable model for utilisation of banana pseudostem after bunch harvest. Representatives from the South India Textile Research Association explained the technologies they had developed for spinning and yarn making to make it suitable for blending with other fabrics in textile industry. Researchers from Tamil Nadu Agricultural University, Coimbatore, highlighted the significance of fibre based nanofilm wraps for extending the shelf life of horticultural commodities in the shelves of super markets. The Central Institute of Agricultural Engineering, Coimbatore, showcased their machine developed for minimal processing of central core stem. The Confederation of Indian Industry, Tiruchi, and Tamil Nadu Handicrafts Development Corporation Limited, have assured support for setting up of large scale fibre extraction units, a NRCB press release said. A. P. Karuppaiah, President, and G. Ajeethan, Managing Director, TN Banana Producers Company Ltd.,suggested utilisation of pseudostem as a new vista of business opportunity. Representatives from the three major institutes of Indian Council of Agricultural Research, the National Institute of Technology, Tiruchi, (SITRA), and officials from the MSME Department,also participated in the meet.

Source: The Hindu

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Rupee crashes to fresh 16-month low of 67.51

The embattled rupee suffered yet another blow today -- falling by 18 paise to end at a fresh 16-month low of 67.51 against the US currency on heavy dollar purchases and sustained fund outflows from equities. This is the lowest closing for the rupee since January 31, 2017, when it had ended at 67.87. A handful of cautious bias kept forex trading mood at extreme level despite a better start. Currency traders stayed on the sidelines ahead of the critical inflation reading and the Karnataka election verdict, largely ignoring bearish dollar trend overseas. The home currency regained some upside traction in early trade amidst ongoing bearish trend. Earlier in the day, the rupee resumed firm at 67.24 from weekend's close of 67.33 at the Interbank Foreign Exchange (Forex) market on bouts of dollar selling by exporters and banks. It later picked up extra pace and touched a fresh intra-day high of 67.21 before taking a quick reversal in mid afternoon deals amid lack of any strong follow-through. The local unit plummeted sharply to hit a fresh low of 67.63 towards the tail-end trade before concluding at 67.51, revealing a loss of 18 paise, or 0.27 per cent. The RBI, meanwhile, fixed the reference rate for the dollar at 67.3153 and for the euro at 80.5091. Adding to the negative sentiments, country's industrial output grew by 4.4 per cent in March, the slowest in five months, due to a fall in capital goods production and deceleration in mining activity. US trade policy and geopolitical uncertainties are the major negative factors playing out. Widening nation's current-account and fiscal deficits against the grim backdrop of surging global crude prices have mainly hit the rupee, which has turned out to be the Asia's worst performing currency. The Indian currency has been the worst performer this year so far, losing over 5.69 per cent value since January against the US dollar. The rupee coming under pressure signals potential troubles that await Asia's third-largest economy, a forex dealer commented. Oil prices steadied below 3-1/2 year highs as resistance emerged in Europe and Asia to US sanctions against major crude exporter Iran, while rising US drilling pointed to higher North American production. Brent crude, an international benchmark, was trading at USD 77.36 a barrel in early Asian trade. In the meantime, continuing downward trend, country's foreign exchange reserves fell by USD 1.426 billion to USD 418.940 billion in the week to May 4, due to decrease in foreign currency assets, RBI data showed. Meanwhile, foreign investors and funds pulled out Rs 12,671 crore (USD 2 billion) from the Indian capital markets, in the last eight trading sessions, primarily due to surge in global crude prices and rise in yields of government securities here. These developments follow an outflow of over Rs 15,500 crore from the capital markets (equity and debt) in April, the steepest in 16 months. The yield on the benchmark debt maturing in 2028 shot up to 7.83 per cent from 7.73 per cent last week. Meanwhile, domestic equity market managed to withstand initial volatility and ended almost flat with positive bias as wary investors shied away from making fresh bets ahead of Karnataka poll outcome tomorrow. Most Asian stocks were higher following US action last week but with one eye still on global trade. Globally, the dollar headed for its fourth successive day of losses as broad risk appetite returned and investors questioned whether a recent rally by the greenback had run out of steam. The dollar index, which measures the greenback's value against a basket of six major currencies was down at 92.19. In the cross currency trade, the rupee dropped further against the pound sterling to settle at 91.75 per pound from 91.33 and slumped against the euro to end at 80.88 from 80.33. It also remained weak against the Japanese yen to close at 61.64 per 100 yens as compared to 61.61 earlier. Elsewhere, the rally in the European common currency extended for the second-straight day against the greenback despite lingering risk of another Italian election and ongoing political impasse. The British pound bounced back from last week's 4-month lows against the US currency ahead of key macro data including the all-important wage growth data, and BoE's inflation report hearings scheduled on Tuesday. In forward market today, premium for dollar declined owing to mild receiving from exporters. The benchmark six-month forward premium payable in September moved down to 98.50-100 paise from 100-102 paise and the far-forward February 2019 contract edged lower to 233-235 paise from 234-236 paise previously.

Source: The Economic Times

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Bagh Utsav’ Ends At Gauhar Mahal; Rarerst Textile Exhibits Shown

The ‘Bagh Utsav’ organised at Gauhar Mahal concluded at Bhopal on Monday with a lot of fervour and good response by the Bagh print lovers of the city. The fair exhibited the rarest collection of Bagh prints in almost all textiles. The 15-day long exhibition-cum-sale was jointly organised by Mrignaynee Handloom Emporium and Madhya Pradesh Handloom and Handicraft Development Corporation. The female buyers were captivated towards the fair and bought the Bagh printed dress material in huge number. The cost of dress materials began from Rs 400 to Rs 1800. While the cost of bed sheets began from Rs 300 to Rs 6000 and finally the saris were the major attraction whose cost began from Rs 500 to Rs 4000. Different motifs in Maheshwari and Chanderi material were on display at exhibition. An array of vibrant colours like green, ocean green and ocean blue along with shades of yellow, brown, sky colours and colours in contrast attracted the buyers. As the female participants were seen in a big crowd, they shopped for a wonderful collection of sarees, suits and dress materials in bagh print over different materials. Notably, these materials have been designed in Bagh prints on cotton material especially for the summer season. There was also a range of running material (Thaan) in different varieties as well. From short kurtis to full salwar suit, the female participants were overwhelmed with the kind of fine Karigari done over the cloth material. The ladies out there are being enthralled to watch bagh prints in such bright and vibrant colours. The visitors were immensely mesmerized by the collection in the fair and enjoyed shopping at the exhibition-cum-sale this summer.

Source: The Pioneer

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Directa Plus & Arvind to make graphene-enhanced denims

Directa Plus Plc, a leading producer and supplier of graphene-based products for use in consumer and industrial markets, has entered into an exclusive collaboration agreement with Arvind Limited, India’s leading textile-to-retail-and-brands conglomerate, to infuse the high-performance benefits of Directa Plus’ G+ graphene-based products into denim fabrics. Directa’s graphene-based products can be used in a variety of ways to alter or enhance the properties of conventional denim fabrics, and to produce ‘smart’ clothing for different purposes and environments. By incorporating G+ products within fabrics and textiles, end-users benefit from the thermal and electrical conductivity and bacteriostatic properties of G+, such as thermal regulation, heat dissipation, energy harvesting, data transmission and no odour effect. The pioneer of the denim revolution in India, Arvind Limited’s business is built on the pillars of design, innovation, sustainability, and customer centricity. Each year Arvind Denim produces over 100 million metres of fabrics and 6 million pairs of jeans. Over the years, Arvind has evolved into an IP-led design house with several patented technologies and products to its name. The collaboration with Directa will further enhance its capabilities in innovation and research and accelerate its transformation into a technology-driven company. “Technology plays a vital yet invisible hand in determining the performance, fashion quotient, and functionality of the denims we develop. The use of graphene in denims is absolutely new and will yield some of the smartest, most widely used fabrics in the years ahead. We are excited about the opportunities it presents, and we want our key customers to be amongst the first to experience and enjoy the advanced, new-age clothing we will create with Directa Plus,” said Aamir Akhtar, CEO – Denims, Arvind Ltd. “The incorporation of our Graphene Plus will further differentiate Arvind’s denims by providing unique features and performance enhancements. Consumers can enjoy these advantages safe in the knowledge that our products are hypoallergenic, non-toxic and sustainably produced. We look forward to working with Arvind to develop technically-advanced denims and further innovations leveraging our Graphene Plus,” said Directa Plus CEO Giulio Cesareo.

Source:Fibre2Fashion

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Global Textile Raw Material Price 2018-05-14

Item

Price

Unit

Fluctuation

Date

PSF

1414.07

USD/Ton

0.11%

5/14/2018

VSF

2209.48

USD/Ton

0.72%

5/14/2018

ASF

2967.02

USD/Ton

0%

5/14/2018

Polyester POY

1466.15

USD/Ton

0.05%

5/14/2018

Nylon FDY

3377.35

USD/Ton

0.47%

5/14/2018

40D Spandex

5602.61

USD/Ton

-1.39%

5/14/2018

Nylon POY

1751.80

USD/Ton

0%

5/14/2018

Acrylic Top 3D

3598.30

USD/Ton

-0.44%

5/14/2018

Polyester FDY

5965.60

USD/Ton

0%

5/14/2018

Nylon DTY

1728.13

USD/Ton

0.46%

5/14/2018

Viscose Long Filament

3109.05

USD/Ton

1.03%

5/14/2018

Polyester DTY

3156.40

USD/Ton

2.56%

5/14/2018

30S Spun Rayon Yarn

2967.02

USD/Ton

-0.27%

5/14/2018

32S Polyester Yarn

2209.48

USD/Ton

0%

5/14/2018

45S T/C Yarn

3014.36

USD/Ton

0%

5/14/2018

40S Rayon Yarn

2351.52

USD/Ton

0.68%

5/14/2018

T/R Yarn 65/35 32S

2556.68

USD/Ton

0%

5/14/2018

45S Polyester Yarn

3140.62

USD/Ton

0%

5/14/2018

T/C Yarn 65/35 32S

2698.72

USD/Ton

0%

5/14/2018

10S Denim Fabric

1.47

USD/Meter

0%

5/14/2018

32S Twill Fabric

0.90

USD/Meter

0%

5/14/2018

40S Combed Poplin

1.26

USD/Meter

0%

5/14/2018

30S Rayon Fabric

0.70

USD/Meter

0%

5/14/2018

45S T/C Fabric

0.74

USD/Meter

0%

5/14/2018

Source: Global Textiles

 

Note: The above prices are Chinese Price (1 CNY = 0.15782 USD dtd. 14/5/2018). 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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US retail imports to grow despite tariff threat: Report

Imports at the major retail container ports in the US are expected to grow steadily throughout the summer despite the prospect of heavy tariffs on goods from China, says a recent report. Ports handled 1.54 million Twenty-Foot Equivalent Units (TEU) in March, that was down 8.6 percent from February because of Lunar New Year factory shutdowns in Asia. TEU in March was down only 0.7 percent YoY, according to the monthly Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates. A TEU is one 20-foot-long cargo container or its equivalent. “With proposed tariffs yet to be officially imposed, retailers are stocking up on merchandise that could soon cost considerably more,” NRF vice president for supply chain and customs policy Jonathan Gold said. “If tariffs do take effect, there’s no quick or easy way to switch where these products come from. American families will simply be stuck paying higher prices and hundreds of thousands of US jobs could be lost.” “Despite the threats and risks to trade, we continue to see solid expansion and our models are projecting this to continue throughout the year,” Hackett Associates founder Ben Hackett said. “This is driven by a high level of confidence as the economy remains strong and unemployment is at its lowest level in nearly two decades.” April was estimated at 1.73 million TEU, up 6.4 per cent YoY. May is forecast at 1.82 million TEU, up 4.3 per cent from last year; June also at 1.82 million TEU, up 6.1 per cent; July at 1.9 million TEU, up 5.5 per cent; August at 1.92 million TEU, up 4.6 per cent, and September at 1.82 million TEU, up 2.1 per cent, as per the report. The numbers forecast for July and August would each set new records for the number of containers imported in a single month, beating the previous high of 1.83 million TEU in August 2017. The first half of 2018 is expected to total 10.4 million TEU, an increase of 5.8 per cent over the first half of 2017. The total for 2017 was 20.5 million TEU, up 7.6 per cent from 2016’s previous record of 19.1 million TEU. Global Port Tracker, which is produced for NRF by the consulting firm Hackett Associates, covers the US ports of Los Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Port of Virginia, Charleston, Savannah, Port Everglades, Miami and Jacksonville on the East Coast, and Houston on the Gulf Coast. (KD)

Source:Fibre2Fashion

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Bangladesh apparel workers receive lowest wage in Asia

Apparel workers in Bangladesh receive only $67 (Tk 5,300) per month, the lowest wage compared to all other countries in Asia. The Garment Workers Coordination Parishad, which is a platform for readymade garment (RMG) workers comprising 52 organisations, has demanded that the minimum wage of the workers should be fixed at Tk 16,000 ($189). The association made the demand during a press conference at Dhaka Reporters Unity. It also said that workers in India get $168, while those in Cambodia get $170. Workers in other countries like Pakistan, Vietnam and Myanmar receive $124, $154 and $86, respectively. Kamrul Anam, joint convener of the association said that the workers should get Tk 16,000 as minimum wage with Tk 10,000 as basic salary to fulfil their monthly demands. He has demanded that the new salary be given from the month of August. The leaders of the association have also asked for 10 per cent increment in salary every year, six months maternity leave and three months of apprenticeship period with basic salary. (KD)

Source: Fibre2Fashion

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Zimbabwe : 10pc export incentive for cotton growers

Hind Siam Herald Reporter: Cotton growers will be paid an export incentive of 10 percent as Government moves to boost production of the crop. In a statement yesterday Reserve Bank governor, Dr John Mangudya, said farmers will also get $40 cash per each bale sold with the balance being deposited into the grower’s account or mobile wallet account. “In preparation of the impeding cotton marketing season, the Reserve Bank of Zimbabwe wishes to advise cotton growers, cotton merchants and other stakeholders on the financing arrangements for the 2018 season. “Cotton growers shall be paid an export incentive of 10 percent which shall be paid on a monthly basis through bank accounts or mobile money services. “In this regard, cotton merchants are asked to submit to the Reserve Bank, the list of growers and their respective account details by the 7th of each month for which the incentive is being claimed,” he said. Dr Mangudya said to promote the use of plastic money, a particular amount shall be paid to the cotton grower for each bale sold. “In line with international best practices and the need to promote the use of plastic money, cotton growers shall be paid in cash a maximum of $40 per each bale sold, with the balance being deposited in their bank accounts or mobile wallet accounts.” “Seed cotton shall continue to be purchased using offshore lines of credit. In this regard, cotton merchants are required to secure offshore lines of credit prior to purchasing seed cotton. “For avoidance of doubt, only those cotton merchants who were financed by Government and those who financed cotton production using their own resources shall buy seed cotton,” he said. Cotton is an important crop and farmers require sufficient funding. It provides raw materials for the textile industry, cooking oil and stock feeds manufacturers. Cotton production has for the past season been funded under the Presidential Inputs Scheme. The scheme was meant to go for three years, but cotton growers have appealed to Government to extend it.

Source: The Herald

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Italian textile machinery order index drops in early 2018

The order index for textile machinery prepared by ACIMIT, the Association of Italian Textile Machinery Manufacturers, for the period from January to March 2018 dropped 12 per cent compared to the same period for 2017. The decline mainly affected textile machinery orders for the domestic market, while the drop was more contained in export markets. The value of the index for the first quarter of 2018 stood at 104.8 points (basis: 2015=100). For the Italian market, the index was at 94.1 points, 22 per cent less than the first quarter for 2017. In foreign markets, the index registered 107.2 points. “In Italy, we had a rebound effect following the heavy investments made during 2017. The first three months of this year were characterised by a physiological slowdown that doesn’t concern our manufacturers who are used to processing an order portfolio of over four months,” said Alessandro Zucchi, president of ACIMIT, which represents an industrial sector comprising around 300 manufacturers. Terming the situation in export market as positive, Zucchi said, “For 2018, conditions remain for consolidating the growth trend, as evidenced by the good results obtained at recent trade fairs held in different countries, at which many of our manufacturers participated.” (RKS)

Source:Fibre2Fashion

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Bangladesh : The Reincarnation of Jute

Jute is safely one of Bangladesh's most value adding industry. This large industry, developed in light of the abundance of the golden fibre way before the first jute mill was set up in the 1850s. Jute has been cultivated in the rich Bengal soil for centuries and handloom weavers have spun raw jute to make twines, ropes and even coarse fabrics to clothe the poor since the Mughal reign. Bengal's reputation of being a monopoly in the production of jute preceded it back in the day, but the industry is not what it used to be in the 20th century. Facing challenges in the forms of productive inefficiency, and struggling to keep up with rising global demands, the once-golden industry is slowly losing its lustre. Under closer inspection, however, you will realise that the jute industry today is still going strong. While it has certainly seen better days, the wheels at the 27 existing jute mills continue to spin with gusto. A government report says Bangladesh controls 62 percent of the global jute market as of 2016. Moreover, about 25 million of the country's population is currently employed in the agriculture, domestic marketing, manufacturing or trade of the golden fibre. Adding to that, Bangladesh remains the second largest producer of raw jute to this day. However, the allowance of tax benefits granted from 2016 onwards, and rising global demands for the biodegradable fibre revealed themselves to be the real game changer in this equation. In the spirit of a cheaper and greener exportable product, the industry of jute must be met with a revival. And so, in an attempt to restore the jute industry of Bangladesh to its former glory, a reincarnation is in motion. And leading the movement stands a true visionary, Amir Hossain Rangan, Managing Director of Khiyoo Fashion House. “Our soil is extremely fertile, especially for jute. With its price being four times lower than that of cotton, jute already beats its greatest competitor,” notes Amir Hossain Rangan. “We must make optimal use of the resource we've been blessed with, and look past archaic uses of jute in ropes and gunny bags,” he further shares. Researching on the field for 16 years, Rangan figured that he could use jute as a fabric to make clothes. Exploring the full potential of the fibre would eventually see him crafting and selling designer clothes made of jute in the form of jackets, coats and pants. Multiple exhibitions around the city have already been organised to showcase the creativity and brilliance, as well as raise awareness and promotion. Creating a customer base through promotional ventures will spark demands for the clothes fashioned out of jute. This, in turn, will require more raw materials, leading to more jute being weaved and spun. Finally, supply will be raised and higher yields of jute will carve a revived, booming industry. At least, that's the plan. Roadblocks in the form of softening the rough, coarse fabric, and reducing the cost of production have been noted. Although the designer clothes promoted via Khiyoo Fashion House by Rangan promises comfort, with fabrics being wearable owing to a softer lining on the insides, further issues make this a difficult investment. Lack of financial and marketing support effectively puts a dent on the initial step of creating demand, and eventually increasing cultivation. Rangan shares his long-term goal, "Bangladesh, with its many jute mills, can produce jute in abundance. Meanwhile, Bangladesh has a strong RMG sector. My vision is to combine them together to make jute clothes and sell them at a profit." Fortunately, helping out Rangan in the revolutionising movement is another entrepreneur, Nasrin Akter Mila, CEO of The Magnets, an export/import/supply company offering goods made of agro and leather with a special emphasis on jute. “The jute trade has always had a great presence in history. If we put our heads together, developing the jute industry can be an easy task,” Akter optimistically states. The company has always competed and traded in both local and international markets with their varieties of jute bags as a rustic, fashionable accessory and, also for shopping, carrying laptops and wines. Their new area of focus is shoes, specifically Espadrilles. These canvas shoes, made out of jute blended with cotton and leather, offer cheap and warm solutions to bare feet. Produced with ecological materials, and manufactured with braided jute soles, the end product makes for a green alternative in footwear. Designs of such products are, in no way, limited, in case you were wondering! Offered in stripes, two-tones, printed patterns and in assorted colours, there's sure to be a pair for every preference! However, even Akter points out the obstacles lying in the way of her enterprise and the industry at large. “The plight of the people involved in the reaping and trading of jute is real. While jute may be abundant, processing it at mills to manufacture the desired products require advanced and expensive machinery. The field is promising, but funding in research and development is crucial,” she concludes. To help with that, government support has been forwarded and the industry benefits because of it, but there's still a long way to go. “Products made of jute lack recognition and awareness. Sure, we have conferences and exhibits on jute every now and then, but they must be displayed at trade fairs and exhibitions with proper banners and advertisements to get the word of mouth going,” suggests Ali Zakir, Director of Amali Export Import Sdn Bhd. “There must be retailers and entire spaces of showrooms dedicated to flaunt the diversity of the jute goods with pride,” he further states. For Zakir, goods of the golden fibre provide a golden opportunity of business. Offering great deals on edgy and chic handbags fashioned out of jute, the company is known to trade both locally and in international markets. The bags come in a variety of choices such as single or double strapped backpacks and shoulder bags for stylish and convenient looks. The creativity in design, and simplicity in usage, not to mention jute being eco-friendly, makes the products a true competitor in the markets. Standing alongside Zakir and trading in products of jute, especially, handbags is Mos-ud-ul Alam, Managing Director of Banijyo Antorjatik Ltd. “The jute industry of Bangladesh needs a change. Problems like rising costs of production, although justifiable as manufacturing is a long process, must be solved,” Alam says, agreeing to the opinions of his contemporaries. With Banijyo Antorjatik Ltd being another dealer in handbags produced out of jute, the company, too, offers diversity. Colourful and printed handbags, convenient backpacks, lunch or office bags and fruit sacks pique the attention of local and international buyers. And it is herein where a solution might exist. “The jute industry needs to engage in promotional activities and undergo a productive reform to create an international clientele. Although demand for the fibre already exists in overseas markets, we are still not able to fully meet them. Tapping into the immense potential abroad can generate great revenues and really cause a paradigm shift in the jute industry as we know it today,” Alam offers his two cents. If one thing is clear, it is perhaps the fact that a big chunk of our legacy lies in jute. Used in almost every piece of furniture like curtains and lamps, in miscellaneous things like burlaps and sacks and now even in the world of fashion, jute is a staple of Bengal's culture, and deserves proper recognition. More importantly, it deserves a reincarnation. With the motion of revival already rolling, it is only a matter of time till the glory of the mighty jute industry of Bengal is restored.

Source: The Daily Star

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The high price of fashion

The 1990s saw the birth of an anti-sweatshop movement demanding that multinational corporations improve working and environmental conditions along every step of the global value chain. By the end of the decade, then UN secretary general Kofi Annan used his address to the World Economic Forum in Davos to propose the establishment of a Global Compact on human rights, labour, and the environment. Annan urged the international business community to discard its “calculations of short-term profit” in favour of a global market with a “human face”. The choice, he stressed, was simple: Between a world which condemns a quarter of the human race to starvation and squalor, and one which offers everyone at least a chance of prosperity, in a healthy environment. The following year, the Global Compact was launched with nine core principles (a tenth was introduced at a later date). It was, to all intents and purposes, a new initiative for a new decade to mark the beginning of a new era of ethical and sustainable manufacturing.

Or so the UN hoped.

The 18 years since the launch of the Global Compact have seen painstakingly slow steps being taken to end the widespread prevalence of sweatshops. Millions of workers around the world continue to contend with a globalised system that thrives on inhumane working conditions and is defined by the maldistribution of wealth. Often, progress comes in the form of a reactive action that follows an incident in which large numbers of preventable fatalities have occurred. In particular, the Asia-Pacific region has for too long been seen as the developed world’s manufacturing room for clothing and footwear. With little to no labour protection enforcement and regulation in many of Asia’s developing countries, this part of the world has proven to be an opportune area for multinational corporations to increase profit margins via worker exploitation. The fight for labour rights in the apparel sector is also undoubtedly a gender issue – ActionAid estimates that there are 60–75 million people employed in the sector around the world, and three quarters of them are women and young girls. The daily horrors faced by workers in this region have been punctuated by a number of tragic events over the years. The Tazreen Fashions factory fire in Bangladesh in 2012 saw 112 workers killed while making apparel for companies includingWalmart. In that same year, a fire in a garment factory in Karachi, Pakistan, saw more than 280 people killed. Then in 2013, the Rana Plaza factory collapse saw more than 1200 people killed in Bangladesh. There has been considerable movement for change on many levels. The International Labour Organisation has been working with governments in the Asia-Pacific region to improve conditions in the ready-made garment sector, including in Bangladesh. The EU-Vietnam Free Trade Agreement has also been put on hold by the European Parliament due to demands that trade accords not be signed with countries that do not uphold human and labour rights. In Australia, the New South Wales Legislative Council has recently passed the Modern Slavery Bill of 2018. The legislation requires that companies conduct annual reports into the production of their goods and services, in order to ensure that no form of modern slavery has been used in the supply chain. Similar legislation is also being considered at a federal level. The Joint Standing Committee on Foreign Affairs, Defence and Trade began an inquiry into the establishment of a Modern Slavery Act in February 2017, with a report, which included a number of recommendations to alleviate the problem, tabled by Parliament in December. On a grass-roots level, organisations such as Fashion Revolution have launched a number of campaigns, including “Who Made My Clothes”, with the intention of creating increased transparency and awareness of labour rights in the fashion supply chain. But there is still much to be done. More than 9500 companies and foundations from 161 countries are signatories of the UN’s Global Compact. These include companies such as Nike, ASOS, and Timberland – none of which score higher than a B when graded by Baptist World Aid’s 2018 ethical fashion guide. All three companies are awarded A+ for their policies, but are let down by their scores for auditing and supplier relations and worker empowerment (Nike scores a dismal –D for the latter). Research released by Danwatch in 2017 revealed that Cambodian female workers in Nike, Asics, and Puma factories were mass fainting as a result of their working conditions – 10-hour days in 37-degrees-Celsius temperatures, six days a week. Disconcertingly, as countries in the Asia-Pacific continue to develop at accelerated rates, the cycle of worker exploitation has continued. Chinese company Huajian Group (who manufactured Ivanka Trump–branded footwear) has been accused of hiring thousands of workers in Ethiopia and forcing them to work for insufficient wages without the requisite safety equipment. Undoubtedly, the international community still has a long way to go on ethical and sustainable apparel. There’s a high price to be paid for modern fashion. But we’re not the ones paying it.

Source: The Interpreter

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Stäubli Succesful At ITM Turkey

PFÄFFIKON, Switzerland — The ITM trade fair for textile technology closed its doors 2018 after four days profiting from an important visitor density. Stäubli with its welcoming booth could attract many interested public, hold intensive and constructive talks and transform many visits into real business opportunities. Thus with industrials from Turkey, but as well from Eastern and Middle-east countries, though for the complete range of systems and solutions that Stäubli offers to the weaving and knitting industry. “We were glad to see this overwhelming interest in our solutions for the weaving and knitting industry. Our reliably and precisely running high-speed shedding solutions such as cam motions, dobbies, and Jacquard machines, convinced many weaving industrials. The renowned SX and LX electronic Jacquard machines could be seen on our booth, but were presented in addition on the two complete Jacquard installations visible on this years’ ITM fairground. This underlines the positive regard from the whole weaving industry towards us. Stäubli is renowned as a leading supplier for state-of-the-art-technology that meets the customers’ needs, and brings further benefits to the weavers in terms of reliability, long service life, and versatility in application.” says Mr Legler, sales and marketing manager. At the booth Stäubli showed for the first time in Turkey, the automatic drawing in machine SAFIR S40, featuring a mobile drawing in machine and stationary drawing in station. This installation offers multiple layout possibilities and with its little space requirements fits into every mill. Out of the versatile SAFIR Series that offers solutions for any application, the SAFIR S40 model is dedicated to mills processing cotton warps. So this exhibit was perfectly in line with one of the most visible trends at ITM: denim. Especially in the Turkish weaving industry denim fabric is again in the focus. Even if ITM 2018 was followed by Domotex in Gaziantep, many carpet weavers came to discover latest carpet samples woven on ALPHA carpet systems. The exhibits showed Stäubli binding technology know-how through their unique patterns, perfect surfaces and sharp designs without mixed contours, thus from low to very high densities depending on the application. These properties are part of the perfect pre-arrangement for any kind of carpet project, if rug or wall to wall, for private households, public places such as sport stadiums or the transportation sector. In the knitting sector, and more precisely in sock knitting, the countries’ industry underlined its worldwide leading position. And Stäubli supports this successful knitting industry with automation solutions, such as the D4S automatic toe sewing device, which increases the efficiency in the mill. This very successful device could be seen in at the Stäubli booth, but as well in many places in the knitting hall where operating sock knitting machines were already equipped with The Turkish textile industry has been facing heavy global competition; but with this years’ ITM edition the country has clearly shown that it remains an important textile manufacturer.

Source: Textile World

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Shima promotes knitted applications in technical textiles

Leading computerised knitting machine manufacturer Shima Seiki, of Wakayama, together with its US subsidiary Shima Seiki USA, will participate in the Techtextil North America exhibition in Atlanta, GA, this month. On display will be the company’s latest technological contributions aimed at promoting knitted applications in the field of technical textiles, designed and produced on Shima Seiki’s line-up of advanced computer design systems and computerised flat knitting machines. The company will exhibit its latest SVR123SP shaping machine which features a dedicated loop presser bed mounted above the rear needle bed. This permits full use of inlay technique for the production of hybrid fabrics that feature both knit and weave characteristics, suited to various technical applications, the company explains. At Techtextil North America, the SVR machine will operate together with the Yarn Unwinding Option that yields optimum yarn feed and tension for use with technical yarns that are otherwise difficult to handle. Together they will be producing knitted fabrics for automotive interior applications for upcoming mobile office and living room scenarios arising from self-driving cars. Also on display will be the company’sWholegarment knitting technology that is capable of producing knitted items in their entirety without the need for sewing. Wholegarment smart garments will be presented as proposals in wearable technology for biomonitoring in the sports apparel industry, as well as remote monitoring for the medical and caregiving industries. The latest version of Shima Seiki’s SDSONE APEX3 3D design system will also be available for demonstrations in design and simulation of various technical textiles. Its ultrarealistic simulation capability that realises Virtual Sampling allows evaluating countless variations before arriving at a final design, and virtual product samples can be used to streamline the decision-making process by minimising the enormous amount of time and cost normally associated with producing actual samples for each variation.

Source: Knitting Industry

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