INTERNATIONAL
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1164.62 |
USD/Ton |
0.28% |
2/8/2015 |
|
|
1832.21 |
USD/Ton |
0% |
2/8/2015 |
|
ASF |
2594.82 |
USD/Ton |
0% |
2/8/2015 |
|
Polyester POY |
1193.86 |
USD/Ton |
0% |
2/8/2015 |
|
Nylon FDY |
2956.23 |
USD/Ton |
0% |
2/8/2015 |
|
40D Spandex |
7471.78 |
USD/Ton |
0% |
2/8/2015 |
|
Nylon DTY |
1405.02 |
USD/Ton |
0% |
2/8/2015 |
|
Viscose Long Filament |
3248.60 |
USD/Ton |
0% |
2/8/2015 |
|
Polyester DTY |
5717.54 |
USD/Ton |
0% |
2/8/2015 |
|
Nylon POY |
1453.75 |
USD/Ton |
0% |
2/8/2015 |
|
Acrylic Top 3D |
2680.10 |
USD/Ton |
0% |
2/8/2015 |
|
Polyester FDY |
2745.07 |
USD/Ton |
0% |
2/8/2015 |
|
30S Spun Rayon Yarn |
2533.91 |
USD/Ton |
0% |
2/8/2015 |
|
32S Polyester Yarn |
1851.70 |
USD/Ton |
0% |
2/8/2015 |
|
45S T/C Yarn |
2875.01 |
USD/Ton |
0% |
2/8/2015 |
|
45S Polyester Yarn |
2014.13 |
USD/Ton |
0.81% |
2/8/2015 |
|
T/C Yarn 65/35 32S |
2485.18 |
USD/Ton |
0% |
2/8/2015 |
|
40S Rayon Yarn |
2696.34 |
USD/Ton |
0% |
2/8/2015 |
|
T/R Yarn 65/35 32S |
2598.88 |
USD/Ton |
0% |
2/8/2015 |
|
10S Denim Fabric |
1.58 |
USD/Meter |
0% |
2/8/2015 |
|
32S Twill Fabric |
0.99 |
USD/Meter |
0% |
2/8/2015 |
|
40S Combed Poplin |
1.35 |
USD/Meter |
0% |
2/8/2015 |
|
30S Rayon Fabric |
0.72 |
USD/Meter |
0% |
2/8/2015 |
|
45S T/C Fabric |
0.79 |
USD/Meter |
0% |
2/8/2015 |
SOURCE: Global Textiles
Note: The above prices are Chinese Price (1US$=0.16243 CNY dtd. 08/02/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Texpreneurs Forum is planning to submit a report on the financial stress faced by the textile industry in the last 2-3 year to the Finance Ministry for that they are in the process of appointing an external agency to conduct a study of the textile industry.
D Prabhu, Secretary, Texpreneurs Forum said that this is consequent to their meeting with the powers that be at the Centre and the recommendations made by the Textile Ministry to the Department of Financial Services under the Union Finance Ministry for lowering the interest on working capital loan for purchase of cotton. The Forum also expressed the felt need for a time bound interest subvention mechanism for procurement of cotton. Due to unprecedented fluctuation in cotton prices and consequent erosion in working capital, high interest cost and reduction in demand due to change in China’s inventory policy among others the textile industry since 2011 has been put to hardship.
The Forum has, in its pre-budget memorandum stressed the need for rationalization of duty structure – both central excise and customs – of polyester and viscose fiber to enable the Indian manufacturers access the rapidly growing global MMF (Man Made Fiber) apparel market.
The Texpreneur Secretary said that the excise duty should be slashed to 4 – 5 percent from the present 13 percent and the import duty from a high of 28 percent to around 2 -3 percent. The contention that the cotton economy would be impacted if the MMF duty structure is rationalized will not hold good as there is huge demand for blended apparels, where the share of cotton is still around 65 – 70 percent. MMF fiber, clusters like Tirupur are losing out to competing countries as they are not competitive in the 30- 35 percent. Prabhu also emphasized the need for suitable enhancement in budget allocation to cover the backlog and early disbursement of TUF subsidy would give the industry some respite as it is now facing huge working capital stress.
SOURCE: YarnsandFibers
The theme state Chhattisgarh showcased its unique handloom designs and rich textile through a Fashion Show on the seventh day of 29th Surajkund International Crafts Mela here. The state was praised for giving a modern and formal twist to its handloom and Bunkar style garments, created by the Chhattisgarh Apex Handloom Federation and National Institute of Fashion Technology (NIFT).
The event, inaugurated by the Managing Director of Haryana Tourism and Chief Administrator Sumita Misra, was followed by ‘Gaur’ dance of the Madia tribe of Bastar in Chhattisgarh. The Fashion Show witnessed the state’s celebrated fabric, the Kosa silk, which are produced in Champa town of Chhattisgarh by the Devangan community. The state celebrated its unique cultural along with tribal heritage and historical heritage in an impressive manner.
Meanwhile, Mathura’s hand-cut designs on paper, Sanjhi Art, emerged as a popular ‘stop’ with the visitors at the Crafts Mela. Presented in the form of wall hangings, Sanjhi Art practitioner, Vijay Kumar Verma said: “The art originates from Mathura, the home of the god Krishna. The handmade sheets are our canvas and the technique of the art lies in cutting the sheet.” Verma has been associated with the Mela since 1987 to display his unique art for which he received the Kala Mani award by the fair authourity. The final creations are presented in different sizes with prices ranging from Rs 200 to Rs 40,000, Verma said.
The festival began here on February 1 and will continue till February 15, with 18 countries participating in the ‘mela’. Several artists from different countries including partner nation Lebanon and states like Chhattisgarh, Punjab, and Haryana enthralled the audience with their textiles and designs.
SOURCE: The NITI Central
The Indian Institute of Entrepreneurship (IIE) in Guwahati, Assam has started a Business Incubation Centre on garments and handlooms. The centre was inaugurated by Union Minister for MSME, Kalraj Mishra along with senior officials of IIE. During the inauguration, IIE Director Manoj Das expressed hope that the Centre would go a long way in empowering youths in the garment and handloom industries.
The Centre will provide opportunities for development of youth through practical training and make them realise their full potential through capacity building. An effort would be made not only to promote enterprises but also group entrepreneurship by linking entrepreneurs to various handloom clusters in the region. According to Kalraj Mishra, the Centre will develop leadership qualities and instill entrepreneurial abilities in youth of the region. He said, “IIE has been playing a important role in imparting training to the youth of the region and empowering them through training on entrepreneurship development & skill building.
Kalraj Mishra spoke about the initiatives undertaken by the Central Government for promotion of entrepreneurship and MSME sector in the North East region. He laid special emphasis on the ‘Make in India’ program and its potential to change the socio-economic scenario of the entire region of India.
SOURCE: Fibre2fashion
Firm on protecting their domestic markets, India, South Korea and China will make a coordinated push to resist demands for significant tariff concessions sought by other countries under the 16-country Regional Comprehensive Economic Partnership (RCEP). All the participating countries will meet on Monday for the seventh round of negotiations in Thailand. Japan, Australia and New Zealand want these three countries, which have big domestic markets, to open up 80% product lines for imports. India, China and South Korea are keen to limit it to 40% of the product lines. India will likely keep dairy, textiles, automobiles, machinery, rubber, spices and steel out of the initial offer for regional cooperation and economic partnership. RCEP is a proposed comprehensive free-trade pact among 10 Asean countries — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam — and the six partners with which they have free-trade agreements (FTAs)—Australia, China, India, Japan, South Korea and New Zealand. "South Korea and China bringing down their offer from opening 80% tariff lines to 40% gives weight to our stand," said a government official. "We have worked on a negative list where broad sectors include agri products, dairy, textiles, among others."
The pact seeks to cover goods, services, investments, competition and intellectual property, and is targeted for conclusion by the end of 2015. "We are not against ambition but want to keep initial offer low as we can't throw open most sectors for countries with whom we don't have FTA yet, such as China, Australia and New Zealand," the official added. "For example, we may like to open 80% tariff lines for Asean, but not even 60% for Australia and China," he explained. India has so far signed FTAs with Asean, South Korea, Japan, Singapore and Malaysia, and is negotiating pacts with New Zealand and Australia.
India has avoided a pact with China for fear of its manufacturing industry getting hurt. Along with Japan and South Korea, India made a joint proposal at the last meeting in Delhi on the modalities of the agreement on goods. India is pushing for a simultaneous agreement on goods and services, whereas some countries have shown willingness to conclude a pact on goods first. There appear differences in the services pact where India, backed by six Asean countries, want a positive list approach to the offer, where the commitment to open certain services is listed.
SOURCE: The Economic Times
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 55.62 per barrel (bbl) on 06.02.2015. This was higher than the price of US$ 52.89 per bbl on previous publishing day of 05.02.2015.
In rupee terms, the price of Indian Basket increased to Rs 3433.98 per bbl on 06.02.2015 as compared to Rs 3272.30 per bbl on 05.02.2015. Rupee closed stronger at Rs 61.74 per US$ on 06.02.2015 as against Rs 61.87 per US$ on 05.02.2015.
The table below gives details in this regard:
|
Particulars |
Unit |
Price on Feb 06, 2015 (Previous trading day i.e. 05.02.2015) |
Pricing Fortnight for 01.02.2015 |
|
(Jan 14 to Jan 28, 2015) |
|||
|
Crude Oil (Indian Basket) |
($/bbl) |
55.62 (52.89) |
45.32 |
|
(Rs/bbl |
3433.98 (3272.30) |
2796.24 |
|
|
Exchange Rate |
(Rs/$) |
61.74 (61.87) |
61.70 |
MJPS/Rk/Daily Crude oil price- 09.02.2015
SOURCE: PIB
Nano-Textile has filed to raise $3 million on Wall Street's OTC (over-the-counter) market at a company value of $11 million. Based in Nahariya in northern Israel, the company will issue 30 million shares at $0.10 each including an offer to sell 21.1 million shares for $2.1 million by all the company's shareholders. This is an underwritten self-offering without employing underwriters meaning that the company itself is responsible for marketing its shares. Officially defined by the US Securities and Exchange Commission (SEC) as a growth company, the reporting requirements on the company are much more straightforward than for most companies.
The company was founded in December 2013 as bacterial Textiles and changed its name to Nano-Textiles in September 2014. The company has developed an anti-bacterial solution for the textiles industry. Last June, the company signed a licensing agreement with the R&D arm of Bar Ilan University which holds a patent related to the production process for the textile industry (primarily discovery of a particular chemical for use in the process) developed by Prof. Aharon Gedanken. Nano-Textile has developed textiles for hospital bed linen and for the clothing of medical staff and patients. The aim is to prevent bacterial infections in hospitals. In the US alone 1.7 million pick up infections each year in hospitals.
SOURCE: The Globes English
Pakistan may grant non-discriminatory market access status to India and the two countries are moving towards sealing a deal to liberalise trade, Commerce Minister Khurram Dastgir Khan has said. Khan told the Senate yesterday that Prime Minister Nawaz Sharif had personally identified liberalised trade with India as a policy priority. "Pakistan may grant 'non-discriminatory market access' (NDMA) status to India. The new deal will protect our business interests," he said in response to a question. "There is an incorrect perception (among many) that Most Favoured Nation means giving India extraordinary market access, which is actually not correct. That is why we decided to replace this term with NDMA," he said.
Pakistan and India are getting closer to sealing a deal to liberalise trade between them, the minister was quoted as saying by Express News. The minister said Pakistan was working to protect its agriculture business while giving concessions to its mighty neighbour.
NDMA status is essentially the same as granting Most Favoured Nation (MFN) status, which Pakistan is obliged to grant India under Islamabad's treaty obligations to the World Trade Organisation (WTO), the daily said. The two countries became founding members of the WTO in 1995 and as part of the agreement were required to grant each other MFN status. India did so in early 1996, but Pakistan is yet to reciprocate the move. Pakistan in the past linked the trade with the solving of political issues including Kashmir but of late there has been a change in the approach and now the country is trying to clinch a favourbale deal with India.
SOURCE: The Economic Times
Pakistan cotton market witnessed decline in trade turnover of cotton as several textile mill-owners remained on the sidelines on ease in panic-related to anticipated price hike. The decline was by 43 percent to 11,500 bales (155 kilograms each) on Saturday. According to Naseem Usman, a broker at the Karachi Cotton Exchange, the ease in cotton price worldwide influenced mill-owners to remain on the sidelines at the local markets.
The Karachi Cotton Association (KCA) kept its official rate for cotton unchanged for the second working day at Rs4,850/maund. The KCA reported traders bought 11,500 bales at Rs4,700 to Rs5,100 per maund (37.324 kilograms) as compared to 20,100 bales bought at Rs4,625 to Rs5,100 per maund a day ago. On Friday, trade activities spiked on panic buying on speculation that the inflated cotton price may go further up at the world markets, including New York, China, and India.
SOURCE: YarnsandFibers
Pakistani exports to the European Union increased by more than US$1 billion (RM3.54 billion) after a landmark trade deal last year which made its products more competitive, the commerce minister told AFP. The EU signed a law in late 2013 granting Pakistan so-called “GSP-plus” status, which means firms pay no tax on certain categories of goods exported to the 27-nation bloc for 10 years.
The EU makes GSP-plus conditional on implementing international conventions on human and labour rights, and there have been fears Pakistan's decision to end a moratorium on executions could affect the deal. Pakistan's key textile industry in particular welcomed the agreement, which came into force in January 2014, and in an interview with AFP commerce minister Khurram Dastgir Khan hailed its impact. “As a result of GSP-plus, Pakistan's exports to the EU have increased by US$1.08 billion during the period January to October 2014 as compared to the same period in 2013,” Khan said.
Exports to the EU in January-October 2014 totalled US$6.38 billion, up by just over 20 per cent from the US$5.3 billion recorded in the corresponding period in 2013, he said. Before GSP-plus, textile exports faced customs tariffs of between 6.4 and 12 per cent and leather goods and footwear up to six per cent, he said. The textile industry is the backbone of Pakistan's exports, making up more than 50 per cent of the country's total overseas shipments. “Now these exports have duty-free access in EU and it has helped Pakistani products to become more competitive vis-a-vis its competitors, including Bangladesh, India and Vietnam,” he said.
Rights concerns
Khan played down the possibility that resuming executions could threaten GSP-plus status. “There is no legal obligation to EU regarding death penalty, though they have expressed concern over it,” Khan said. “They understand our situation that GSP-plus would help us create jobs and when we create jobs, it keeps young men and women away from terrorism.”
Pakistan has executed 22 convicts since Prime Minister Nawaz Sharif lifted a six-year death penalty moratorium in the wake of a Taliban massacre at a school. Heavily-armed gunmen murdered 153 people, including 134 children, at the school in the northwestern city of Peshawar in Pakistan's deadliest ever terror attack. Opposition to the death penalty is a key EU policy and the bloc's mission in Islamabad condemned the resumption of executions in December. But EU diplomats in Islamabad have said that while they are concerned about the return to hangings, the development was unlikely to affect the GSP-plus arrangement immediately.
Improving the economy after years of drift and sluggish growth under the last Pakistan People's Party government was a key pledge in Sharif's election campaign in 2013, when he was swept to power for a third term. The International Monetary Fund (IMF) said this week the government's reform programme — tied to a US$6.6 billion loan from the Washington-based lender — was on track. “Economic activity and the external position continue to improve, driven by prudent monetary and fiscal policies and helped by lower oil prices and robust remittances,” IMF mission chief Jeffrey Franks said.
Growth for 2014-15 is expected to hit 4.3 per cent and the budget deficit for end-December was below the target, the IMF said. But the government has so far struggled to improve a long-running energy crisis, with hours-long electricity blackouts still a near-daily reality. Power and gas shortages have hampered industry and held back GDP growth, which experts say needs to hit seven per cent in order to provide enough jobs for new entrants to the workforce. Projects to boost electricity production are in the pipeline, including a 6,600-megawatt coal-fired energy park along the Arabian Sea coast west of Karachi, but these have yet to yield results.
SOURCE: The Malaymailonline
Readymade garment factory owners are going to enjoy four-year deferred letter of credit payment facility in importing capital machinery and five-year repayment facilities for foreign loans in place of existing one year. According to a recent decision of the Board of Investment and Bangladesh Bank, the garment manufacturers who want to get the opportunity of opening deferred LC for the period of three years more, will have to submit applications to the BoI.
The Bangladesh Garment Manufacturers and Exporters Association said the owners of readymade garment factories, who wanted to get the opportunity for more than one year in making their deferred payment on import of capital machinery, will have to submit application to Bangladesh Bank. The retrospective payment will be approved by the Foreign Exchange Investment Department of Bangladesh Bank.
Following the decision of Bangladesh Bank and BoI, the BGMEA issued a notice to its members asking to apply to Bangladesh Bank and BoI for getting the opportunity of opening differed LC payment for four years. ‘Sellers or the exporters of the capital machinery are always ready to sell their machinery under the agreements of deferred payment for four years but importers could not enjoy the opportunity due to the BB provision of payments for 360 days,’ BGMEA vice-president Shahidullah Azim told New Age on Saturday. He said that the recent decision of the BB and BoI would encourage entrepreneurs to invest more for the modernisation and expansion of their business as Bangladesh Bank confirmed that it would consider the issue of four-year deferred LC payment in importing capital machinery.
Mohammed Hatem, former vice-president of the Bangladesh Knitwear Manufacturers and Exporters Association, said following the confirmation, the entrepreneurs had started to submit the applications to the BoI for getting the opportunity of making deferred payment for four years. He said the central bank also agreed to relax the existing provision for the repayment of foreign loans. In its last board meeting, the central bank approved 32 applications giving opportunity of enjoying five years to make the repayment of foreign loans, Hatem said. Like the demand of LC payment under deferred arrangement in four years, the five-year repayment facilities of foreign loans was also a long-standing demand of the garment manufacturers.
SOURCDE: The China Tex Net
Losses in the garment sector are mounting everyday for the blockade and shutdowns called by the BNP-led alliance, with 23 garment factories reporting losses of $19.02 million between January 14 and February 1. The amount will be much bigger if the losses of all affected factories are calculated, said Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association. So far, only 23 factories have responded to the platform's request for quotations of losses incurred for the political turmoil, ongoing since January 6. The 23 factories had to deal with work order cancellations, discounts for shipment delays, expensive air shipment and transport fares, and vandalism in that period. The truckers have already doubled the fares to Tk 35,000-40,000, according to the BGMEA president. If the upheaval drags on for long, the factories will soon run out of raw materials, he said, adding that many factory owners are facing problems in bringing in goods from the port to their plants.
On the other hand, many owners are not sending goods to the port fearing arson attacks. In many places, goods-laden trucks and covered vans have already been burnt by miscreants, Islam said. At the same time, businesses have to pay the monthly salaries to workers and bank interest rates, he said. Furthermore, the buyers are not coming to Dhaka to negotiate their next orders; rather, they are calling the factory owners to travel to a third country like India, China, Hong Kong, Thailand and Europe for negotiations.
Islam also said businesspeople have little to do as the ball is now in the political leaders' court. “The political leaders know how to solve the problem -- we want a peaceful and business-friendly environment.” The garment sector contributes more than 80 percent to the country's exports. Last fiscal year, the sector raked in $24.50 billion. The sector's apex body will participate in the countrywide mass rally called by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Sunday to demand a peaceful solution to the political crisis. Representatives of 65 international retailers that source garments from Bangladeshi factories have also demanded an immediate solution to the current crisis and an uninterrupted supply chain between Dhaka and Chittagong. The retailers, who account for 88 percent of the garment exports, expressed their concern at the regular buyers' forum meeting at the capital's Westin Hotel on Monday.
Meanwhile, Rustom Ali Khan, general secretary of Bangladesh Truck and Covered Van Owners Association, said although no major untoward incident took place on the Dhaka-Chittagong highway so far, the number of goods-laden vehicles has still declined significantly. The exporters and importers have cut their transportation needs from the port to the factories and vice versa fearing arson attacks on vehicles. For instance, yesterday at least 5,000 trucks and covered vans sat idle.
SOURCE: The China Tex net
The exports of readymade garments (RMG) from Bangladesh are growing at a slow but steady pace over the past two months, data from the Export Promotion Bureau shows. In the first seven months of the ongoing fiscal year that commenced on 1 July, 2014, garment exports clocked US$ 14.444 billion, registering an increase of 1.91 per cent over exports of $14.173 billion during the corresponding period of the previous fiscal.
Category-wise, knitwear exports grew by 2.62 per cent to $7.177 billion during the July-January 2014-15, over exports of $6.994 billion made during the corresponding months of the previous fiscal, the data showed. Likewise, exports of woven apparel increased by 1.22 per cent to $7.266 billion during the seven-month period, compared to exports of $7.178 billion during the same period of 2013-14. Woven and knitted apparel and clothing accessories’ exports together accounted for around 81 per cent of $17.799 billion worth of total exports made by Bangladesh during the period under review.
In fiscal year 2013-14, Bangladesh’s clothing exports surged by 13.83 per cent to $24.491 billion, compared to exports of $21.515 billion made in 2012-13. For fiscal year 2014-15, Bangladesh has set an export target of $13.215 billion for knitwear and $13.681 billion for woven garments.
SOURCE: The Chinatexnet
Japan yesterday expressed its intent to further relax the rules of origin for Bangladeshi knitwear exports to the Asian giant. Rules of origin are the criteria used to determine the national source of a product to identify the goods that qualify for lower or nil customs duty. The modalities and other formalities in this regard are being worked out, said the foreign ministry yesterday following a high-level meeting between the two countries in Dhaka.
Foreign Secretary Md. Shahidul Haque and Japan's Deputy Foreign Minister Shinsuke Sugiyama led their respective delegations at the meeting. Also at the meeting, the Japanese delegation said that its government has preliminarily decided to provide official development assistance to build a dedicated rail bridge over the Jamuna river, parallel to the Bangabandhu Bridge. “Tokyo reaffirms its commitment to further strengthen its bilateral relationship with Bangladesh based on the 'comprehensive partnership' agreed upon between the two prime ministers last year,” Sugiyama said after the meeting.Haque told reporters that the Japanese side is happy as the government has finalised the land for setting up the special economic zone for Japan.
At the meeting, Bangladesh also proposed that a joint working group be formed to further enhance agricultural cooperation between the two countries. The Japanese side agreed to look into it and requested for concept paper. The country also sought Japan's technical and financial support to establish a “National Disaster Management Training Centre”. Bangladesh reiterated its request to Japanese government to recruit skilled workers from the country for construction work of the 2020 Olympics and Paralympics
SOURCE: Fibre2fashion
The Indonesian market has been witnessing increase in shipment of illegal secondhand apparel which is not only threatens local garment manufacturers but also poses health risks. Widodo, the Trade Ministry's director general for standards and consumer protection has called on consumers not to buy imported used clothing due to the hazards. Despite the warning, the illegal smuggling of used clothing has created a lucrative industry, especially in Sumatra, where more than 100 illegal entry points and 10 airports and sea ports make it easy for the illegal apparel to enter the domestic market.
Juli Sitanggang, a used-apparel seller in Medan, said that vendors would likely continue selling the clothing because demand was strong and the clothing was inexpensive to buy. In fact, now there are vendors of used clothing in every market across Medan. The number is rising because the demand for it keeps surging.
Originally, used clothing in Medan was restricted to an area near Monginsidi Street, popularly known as "Monginsidi Plaza", or "Monza". Now, however, the business has spread throughout North Sumatra, including Deli Serdang, Langkat, Pematang Siantar, Binjai and Tanjung Balai. The distribution of smuggled secondhand clothing has attracted government attention due to its negative effect on the domestic garment industry, particularly upon small- and medium-sized enterprises.
Business associations like the Indonesian Textile Association (API) have voiced such concerns, saying the massive shipments of illegal clothing creates unhealthy competition in the local market of 250 million people and could potentially injure small- and medium-sized producers, a problem that Trade Minister Rachmat Gobel has also acknowledged that the government would be hard-pressed to clamp down on the pervasive smuggling. However, he said that the authorities could act by monitoring the entry of apparel through illegal entry points and by confiscating illegally smuggled clothes. Authorities could also work to prohibit people from buying used clothes.
Under a 2002 trade ministerial decree, used clothing imports, like all used items, are prohibited. The government is now preparing a regulation to implement the 2014 Trade Law, which bans overseas purchases of all goods, except raw materials for manufacturing.
According to the Trade Ministry's study, it identified 25 items - including dresses, vests, sweaters, boxers, and shirts - contained sizeable colonies of dangerous bacteria like Staphylococcus aureus (S. aureus) and Escherichia coli (E. coli); bacteria that could cause itches, gastric disease or even genital infection as used clothing is often sold before being washed.
SOURCE: YarnsandFibers
National Blankets Limited, Zimbabwean textile company that manufactures of all qualities of blanket and allied products; of duvets; pillows , non-woven textiles and canvas. With over seventy years of operation in Zimbabwe, the company has become the major market leader in blanket manufacturing, presently operating at 20 percent of its capacity, has appealed to the central bank to make cheap funds available for local industry for recapitalization.
In 2013, the company received a $500,000 loan facility from the Central African Building Society (CABS) under the Distressed and Marginalised Areas Fund (Dimaf) but the money failed to change its fortunes. Acting chief executive, Freedom Dube, informed the Reserve Bank of Zimbabwe governor, John Mangudya during a tour of the firm that it needs at least $3,5 million to recapitalize and increase production.
Currently, they are producing about 200,000 blankets per year against their historical capacity of 2 million. They can ramp up production to 50 percent for a start if they got the required capital. Also they expect the number of employment to increase with time. Currently, they are employing 100 people. Dube said that they had benefited from the Dimaf but the conditions were too stringent for example the period of paying back the money was very short considering that their operation is seasonal. They appeal that the financial institutions should relax such terms.
The company has sold one of their buildings to NSSA as a way of raising money to pay creditors and appealed to the governor to make cheap funds available in banks so that they can access them for recapitalization. Last August, its creditors agreed to convert their undisclosed debt into equity to take the company out of judicial management.
Mangudya promised to address the issue, adding that ailing companies like National Blanket should be assisted financially so that they remain competitive. Competitiveness is the solution rather than importing things that can be produced locally. The Company operates from Khami Road, Steelworks in Bulawayo, Zimbabwe. The Company has significantly invested in ‘state of the art’ manufacturing equipment in its weaving, warping, raising and finishing sections and it is one of the most sophisticated blanket factories on the continent - able to produce to world class standards.
SOURCE: YarnsandFibers
Cotton was one of Nigeria’s major export commodities and formed a major component of the gross domestic product (GDP). The collapse of agriculture as a result of the discovery of oil subsequently led to the collapse of various commodities in the nation’s agricultural sector, including cotton, thereby leading to a near collapse of the economic value of cotton and the sector as a whole.
The revival of the agriculture sector, and in particular cotton, began with the growth enhancement support scheme (GES) for farmers three years ago where agricultural inputs, in form of seeds and fertilisers, were given to farmers. With a population of over 15 million registered beneficiaries registered under the agricultural transformation agenda (ATA)/ GES, agricultural production has experienced a quantum leap. And so has cotton production.
The ATA founded in 2012, by the Goodluck/Adesina administration was a reform policy set to revolutionise the sector using the value chain approach. One of the commodities adopted was the cotton and it was began with the signing of an memorandum of understanding (MoU) with the West African Cotton Company (WACOT).
Speaking on the development of the cotton value chain, the WACOT project coordinator, Dr Kabir Mustaph said that the WACOT and Federal Ministry of Agriculture and Rural Development (FMARD) had signed an MoU to boost cotton production in Nigeria. The katsina State ATA intervention has led to the improvement of cotton by 100 percent. Sustaining the tempo will revive the textile industry against the massive importation which obtains today. They operate in the cotton production area of the state such as Faskari, Funtua, Malumfashi, Bakori, and Kafur. These are the local governments where cotton production are high and they touch all these areas; there are over 5,000 farmers who are benefiting from the programme.
Years back, cotton was produced on a high scale because it had value and farmers were into it. But in the recent past, the cotton sector has been neglected as a result of several factors which include the use of worn out seeds, such as the Simcot 8,9,10 which was released in 1977 (over) 30 years earlier. As the yield became lower, so also the demand for it went lower. The collapse of the textile industry is another key factor why cotton production went down because there was no internal demand for cotton as a result of low or no production from the cotton houses.
Nigeria was set to become a vital economic hub again in cotton production with the cotton revolution. This is the first time farmers are getting the government’s subsidised seeds and fertilisers and all can see the transformation in the agriculture sector. So it will be a good thing if the federal government will ensure the scheme is given legal backing to ensure the continuity of the GES in the event of a change in government. The federal government is urged to remain committed to the ATA/GES as the rural areas are now enjoying and it is now that they know there is a government. In those days all we got were 2/3 tiers, now we see real fertilisers and the yield has been overwhelming.
Cotton farmer and marketer from Katsina State, Mallam Mustapha said that Nigerian farmers have been greatly supported by the President Jonathan Agricultural Transformation Agenda(ATA) but suffer a lack of existing market for their harvested produce. Their biggest problem right now is that they have the cotton, but nobody is interested in buying, this is the biggest worry of any farmer in Nigeria right now, but as to the support of government, they are getting it, they are giving it to them and they are grateful.
Farmers are calling on government to support them in creating a ready market for their produce while requesting that the banks should be considerate of the seasons in giving loans to ensure that farmers are able to access loans as at when necessary. Farmers who often depended on loans for their work were often delayed by the existing bureaucracy which could lead to a loss if the planting is late.
Today, they have top leaders of the business sector who are investing massively in agriculture. With the fall in the price of crude oil, agriculture has become the new oil for Nigeria. Over the past three years, over 14 million farmers have received their subsidised seeds and fertilisers via e-wallets under the GES program. Many of them are women, who never used to get subsidised fertilisers and seeds from government.
The success of the revolution in the cotton and agricultural sector as a whole has become the focal point of the ATA and the main trust of the agric fest according to the Minister of Agriculture and Rural Development Dr Akinwumi Adeshina. Over 20,000 farmers and agribusinesses from the 36 States of Nigeria and the FCT, Celebrated the achievements of the Jonathan led administration through the Agricultural Transformation Agenda.
SOURCE: YarnsandFibers
