|
Item |
Price |
Unit |
Fluctuation |
|
PSF |
1242.6 |
USD/Ton |
0% |
|
VSF |
1986.52 |
USD/Ton |
1% |
|
ASF |
2452.5 |
USD/Ton |
0% |
|
Polyester POY |
1340.7 |
USD/Ton |
0% |
|
Nylon FDY |
3073.8 |
USD/Ton |
0% |
|
40D Spandex |
6572.7 |
USD/Ton |
-0.74% |
|
Nylon DTY |
1536.9 |
USD/Ton |
0% |
|
Viscose Long Filament |
3384.45 |
USD/Ton |
0% |
|
Polyester DTY |
5853.3 |
USD/Ton |
0% |
|
Nylon POY |
1602.3 |
USD/Ton |
0% |
|
Acrylic Top 3D |
2877.6 |
USD/Ton |
0.57% |
|
Polyester FDY |
2599.65 |
USD/Ton |
0% |
|
30S Spun Rayon Yarn |
2665.05 |
USD/Ton |
0.62% |
|
32S Polyester Yarn |
1945.65 |
USD/Ton |
0.85% |
|
45S T/C Yarn |
2910.3 |
USD/Ton |
0% |
|
45S Polyester Yarn |
2043.75 |
USD/Ton |
0% |
|
T/C Yarn 65/35 32S |
2501.55 |
USD/Ton |
0% |
|
40S Rayon Yarn |
2828.55 |
USD/Ton |
1.17% |
|
T/R Yarn 65/35 32S |
2681.4 |
USD/Ton |
1.23% |
|
10S Denim Fabric |
1.1445 |
USD/Meter |
0% |
|
32S Twill Fabric |
1.00062 |
USD/Meter |
0% |
|
40S Combed Poplin |
1.35705 |
USD/Meter |
0% |
|
30S Rayon Fabric |
0.773355 |
USD/Meter |
0.21% |
|
45S T/C Fabric |
0.79134 |
USD/Meter |
0% |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.16350 USD dtd. 20/04/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Source : Global Textiles
Norway is hopeful of progress in talks between India and EFTA member countries on a trade and economic partnership agreement, visiting Norwegian Minister for European Union Affairs Vidar Helgesen has said. “A trade and economic partnership agreement (between India and EFTA) is very much on the table and not off the radar,” Helgesen told BusinessLine after a meeting with Commerce Minister Nirmala Sitharaman in the Capital on Monday. Liechtenstein, Switzerland, Iceland and Norway are the four-member states of the European Free Trade Association (EFTA) grouping. Talks were more or less put on hold after the elections in India in May last year when the new BJP-led government assumed office.However, there could now be some move forward with the Swiss Chief negotiator expected to soon visit New Delhi.
Investor interest
Helgesen said there was considerable interest among Norwegian companies to trade as well as invest in India given its huge market size. Trade ties could get a boost once the India-EFTA trade and economic partnership agreement came into effect, said Helgesen, who is also the Chief of Staff at the Prime Minister’s Office in Norway. He is being accompanied by a delegation comprising business leaders from the Norwegian maritime, infrastructure, ICT telecom and renewable energy sectors.
Helgesen attended the Norway-Asia Business Summit, which was held for the first time in India. Asked about his meeting with Commerce Minister Sitharaman, he said that both shared aspirations of moving forward on the trade and economic cooperation agreement. “The takeaway for me from today’s meeting is that India is committed to this and we expect to move forward in the coming days,” Helgesen said.
Source: The Hindu Business Line
The rupee on Monday plunged by 55 paise to close at over one-month low of 62.91. Logging its biggest fall of the year, the rupee on Monday plunged by 55 paise to close at over one-month low of 62.91 against the greenback amid sustained demand for dollars from importers. Meanwhile, the benchmark BSE sensex stumbled by 555.89 points or 1.95 per cent to end at three-week low of 27,886.21.
Dollar shortcoverings by exporters on the back of firm American unit overseas amid heavy capital outflows also kept the rupee under pressure, a forex dealer said
Source: Times of India
Central Silk Board (CSB) in cooperation with Tirupur-based NIFT-TEA Knitwear Institute are conducting joint research to develop more diversified silk blended products that could be manufactured with knitting technology, according to Shankar Kotrannavar, Assistant Director of CSB. The technology to make the product has been evolved during a research conducted to bring out innovative products using silk with knitting as the base. They will be soon releasing a new product range of inner wears for women developed out of Eri silk using knitting technology. The new set of lingerie developed out of Eri silk termed as ‘initimate wears’ would be giving all wearing comfort which include lightness and good thermal properties giving warm feel during winter and coolness in summer.
Moreover, the products are eco- and skin-friendly besides being soft, Mr. Kotrannavar pointed out at an event by the Board and NIFT-TEA Institute at Sripuram Trust office organized to explain the product diversification possibilities using silk as raw material for knitwear products to garment producers. Even though the Board usually promotes products with pure silk as raw material, they are trying to come out with products made of silk blended with other natural fibres such as cotton, modal and bamboo only based on the industry demand that was based on the trends. As the fabric made of pure silk are little costlier, the industry was looking for blended products to cut down cost at the same time could offer the consumers the ‘luxury of silk’.
Till now, clusters like Tirupur are predominantly into cotton-based knitwear products. This will give value-addition to the knitwear industry. Earlier, the Silk Board had come out with a diversified product for the handloom woven sari cluster in Madhya Paradesh using pure silk spun yarn in place of cotton which was traditionally used for making Chanderi saris.
Source : Yarn and Fibre
As cotton textile mills in Telangana reel under a severe shortage of raw cotton, the Telangana Spinning and Textile Mills Association (TSTMA) has urged the state government, ministry of textiles and Cotton Corporation of India (CCI) to rescue this labour and capital intensive industry, according to media reports. Textile Mills in Telangana require at least 50,000 bales per day to be allocated through e-auction at reasonable prices to tide over their current crisis. The Association has blamed the CCI for adopting what it called unfair trade practice by not offering sufficient cotton to the spinning and textile mills in Telangana. This has resulted in huge price increase of the commodity, making the textile industry unviable, it said.
The Association said the CCI procured maximum cotton in the states of Telangana and Andhra Pradesh through minimum support price (MSP) operations but there is still a huge shortage. CCI is holding 83 lakh bales of cotton all over India which is enough for the mills consumption for another 4-5 months even if 50,000 bales are offered on daily basis through e-auction. Against a total arrival of about 57 lakh bales in Telangana, CCI had purchased 50 lakh bales, amounting to 90 percent of the total arrivals of raw cotton from the state. The Association described the Cotton Lint Sales Policy adopted by CCI as unfriendly to the consumer.
Telangana has about 10 lakh spindles of which 8 lakh use cotton and the rest use other fibres like synthetic and viscose. Unavailability of cotton is forcing mills to operate on less than full capacity or procure cotton from Maharashtra or Madhya Pradesh, which is economically unviable. The state is also losing money as mills are procuring cotton on CST basis and the loss is almost Rs 65 crore per year on VAT. This can be avoided if CCI offers its bales at market price to the mills, the Association said.
Earlier this month, the cotton textiles export promotion council (TEXPROCIL), the Confederation of Indian Textile Industry (CITI) and the Southern India Millis Association (SIMA) had also riticized the CCI for not releasing cotton into the market to ease the shortage of raw material. (SH)
Source : Fibre2fashion
Visakhapatnam-based Brandix India Apparel City (BIAC) has joined hands with four Chinese players to facilitate direct investment in home textiles in its facility located at Atchuthapuram mandal in the district, according to media reports. BIAC signed MoUs with Jiangsu Kingday Textile Co Limited, Zhejiang Hengyuan Chemical Fiber Group, Kunshan Rising Textile and Garment Co Limited as well as Sumec Textile and Light Industry Co Limited during Andhra Pradesh chief minister Chandrababu Naidu’s recent visit to China to seek investments for the state. Spread over 1,000 acres, BIAC has 10 manufacturing units, including UK-based Quantum Clothing, Ocean India, Seeds Intimate Apparel, Pioneer Elastics, Shore to Shore, Vardhman Yarns and Threads Limited, International Trimmings and Labels, Ribest Ribbons and Bows (India) Private Limited, S&S Industries, Screenline Printing apart from three of its own units involved in manufacturing women’s innerwear and T-shirts.
Incidentally, a Chinese delegation led by the secretary general of the China Chamber of Commerce along with senior officials of leading Chinese apparel and textile manufacturing companies had visited BIAC in 2013 to review the viability of Chinese companies setting up shop there due to the value proposition the facility offers.
Source : Global Textiles
Siyaram’s, a leading Indian manufacturer of blended high fashion shirting and suiting fabrics for over three decades has launched its first-ever ready-to-wear fashionable Indian ethnic and lifestyle brand ‘Siya’ for women. The brand is launched to promote ethnicity of the Indian women along with tapping ever growing ethnic wear market in India. Bollywood actress Parineeti Chopra has been roped in as its first brand ambassador.
The launch of Siya completes their ‘Fabric to Fashion’ portfolio of offerings and is in absolute sync with their motto of ‘Come Home to Siyaram’s’ because when they say Come Home to Siyaram’s it means Come Home to Family. Their first-of-its-kind nationally available fashionable Indian ethnic and lifestyle brand will empower girls and women to have more variety and impeccable quality. The versatile, diverse and admirable designs will attract equal appeal and attention from urban as well as rural buyers.
Siya is their gift and tribute to the Indian woman who is unique in every way. And they are confident that Siya will soon become a national-level mass appeal brand with admirers galore, said Kishan Poddar, Executive Director, Siyaram’s Silk Mills Limited. Parineeti Chopra unveiled the new logo, collections and ad campaign of Siya for women by Siyaram’s in the presence of the management team at a studio in Mumbai. Siya’s eclectic range includes best of the finest pure fabrics designed to display elegance and brings out the real beauty of every girl. Priced from Rs 700 onwards, Siya will eventually be available at thousands of outlets in all the cities across India similar to Siyaram’s wide network spread which is about one lakh outlets pan-India.
In addition to the existing product portfolio soon the brand is also planning to come with made-to-wear collection for women which also would be available in its upcoming 450 franchise EBO’s across the country- especially into tier I, II and III cities. On the occasion of the new brand launch, Parineeti Chopra said that Siyaram’s is an iconic brand that they have all grown up with. To be the first brand ambassador for Siya’s collection by Siyaram’s is both exciting and a privilege.
Siyaram’s is a leading Indian manufacturer of fabrics and its products are available through an unparalleled pan-India network. The company produces over 60 million metres of fabrics annually and has retained the crown of the largest Indian manufacturer of blended fabrics for a significant number of years. Its state-of-the-art manufacturing plants are located at Tarapur, Daman and Silvassa, Siyaram’s designs and styles of its fabrics have had a rich and vibrant history of creating fashion trends.
Source : Yarn and fibre
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 61.10 per barrel (bbl) on 20.04.2015. This was lower than the price of US$ 61.17 per bbl on previous publishing day of 17.04.2015.
In rupee terms, the price of Indian Basket increased to Rs 3822.42 per bbl on 20.04.2015 as compared to Rs 3813.95 per bbl on 17.04.2015. Rupee closed weaker at Rs 62.56 per US$ on 20.04.2015 as against Rs 62.35 per US$ on 17.04.2015. The table below gives details in this regard:
|
Particulars |
Unit |
Price on April 20, 2015 (Previous trading day i.e. 17.04.2015) |
Pricing Fortnight for 16.04.2015 (March 28 to April 10, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
61.10 (61.17) |
54.92 |
|
(Rs/bbl |
3822.42 (3813.95) |
3425.91 |
|
|
Exchange Rate |
(Rs/$) |
62.56 (62.35) |
62.38 |
Source : PIB
China and Pakistan launched a plan on Monday for energy and infrastructure projects in Pakistan worth $46 billion, linking their economies and underscoring China's economic ambitions in Asia and beyond. China's President Xi Jinping arrived in Pakistan to oversee the signing of agreements aimed at establishing a China-Pakistan Economic Corridor between Pakistan's southern Gwadar port on the Arabian Sea and China's Western Xinjiang region. The plan, which would eclipse U.S. spending in Pakistan over the last decade or so, is part of China's aim to forge "Silk Road" land and sea ties to markets in the Middle East and Europe.
Xi, whose visit to Pakistan winds up on Tuesday, said it cemented an "all-weather strategic cooperative partnership" between the neighbours. Pakistani Prime Minister Nawaz Sharif said the corridor would transform Pakistan into a regional hub and give China a shorter and cheaper route for trade with much of Asia, the Middle East and Africa. "Friendship with China is the cornerstone of Pakistan's foreign policy," Sharif said in a speech.
The corridor, a network of roads, railways and pipelines, will pass through Pakistan's poor Baluchistan province, where a long-running separatist insurgency that the army has vowed to crush will raise questions about the feasibility of the plan. China is also worried about Muslim separatists from Xinjiang teaming up with Pakistani militants. Although Xi did not refer to the issue on Monday, he linked economic cooperation with security in a statement on Sunday.
"Our cooperation in the security and economic fields reinforce each other, and they must be advanced simultaneously," he said. Sharif added: "I assured President Xi that Pakistan considers China's security as important as its own security." Xi called for greater efforts to bring peace to Afghanistan, where Pakistan is keen to restrict the influence of its rival India. The two sides also agreed to strengthen cooperation in civil nuclear energy, space and maritime technology, counter-terrorism and defence.
COMMON INTERESTS
Pakistan says China will provide up to $37 billion in investment for energy projects to generate 16,400 MW of power. Concessional loans will cover nearly $10 billion of infrastructure projects. The planned Chinese spending exceeds that of the United States, which has given $31 billion to Pakistan since 2002, according to the Congressional Research Service. About two-thirds of that was earmarked for security. Despite Chinese-U.S. competition for influence across Asia, they share interests in Pakistan. Both want a stable government fighting militancy, said Andrew Small, author of a book on China-Pakistan relations.
"China would like U.S. support for Pakistan to continue, in terms of aid, selling arms, and other support," Small told Reuters. Few details of the projects have been finalised, and it is not only the Baluchistan insurgency that stands in the way of the ambitious vision becoming reality. Xi may seek assurances that Pakistan will rein in corruption and that leaders from rival political parties are willing to make a long-term commitment. "We should be cautious because of Pakistan itself, not China," said Imtiaz Gul of the Centre for Research and Security Studies, adding that Pakistan's bureaucracy, political leadership and national unity would be tested as China seeks to build trade links.
Pakistani officials have said China's government and banks, including China Development Bank and the Industrial and Commercial Bank of China Ltd, will lend to Chinese companies, which will invest in projects as commercial ventures. Chinese companies investing in the projects will include Three Gorges Corp, China Power International Development Ltd, Huaneng Group, ICBC Corporation and Zonergy Corporation, officials said. Sharif made ending chronic power blackouts a central promise of his 2013 election campaign and will be hoping for an improvement before the next polls in 2018.
Source : The Hindu Business Line
The Southeast Asian nation of Indonesia in the first quarter (Jan to Mar) of 2015, imported US$ 330 million worth of man-made filaments registering a growth of 11.15 percent over imports of $296.9 million made during the corresponding period of 2014, according to the data from Statistics Indonesia. While, knitted or crocheted fabrics imports increased by 7.31 percent to $327.4 million compared to imports of $305.1 million made during the same period last year, the data showed. Indonesia imports fibre and fabrics for its flourishing textile and clothing industry, which makes a significant contribution to the country’s economy, in the form of providing employment as well as earning foreign exchange.
The textile sector employment in Indonesia is estimated at about 1.55 million, and another 570,000 people are employed in the apparel sector. Indonesian textile industry meets global competitive challenges with a strategy of restructuring modernization and expansion. Indonesia’s textile industry is taking steps to ensure it can weather the challenges of an ever-expanding global economy.
Source : Yarn and Fibre
Turkey is looking at increased of trade volumes with Sri Lanka. A Turkish business delegation will be visiting Sri Lanka soon to explore business opportunities as they are keen to invest in Sri Lanka, said Turkish Ambassador to Sri Lanka, Iskender Okyay. They are keen on the manufacturing sector, tourism, power generation and several other areas.
Turkish exports to Sri Lanka consist textile products (% 23,8), chemical substances and products (% 10,1); machinery and equipment (% 10,1); food products and beverages (% 9,3); metal equipment industry products (% 7); motor vehicles (% 5,6); plastic and rubber products (% 6) and others. Sri Lankan import are mainly; garment (% 39,9); textile products (% 19,6); plastic and rubber products (% 13,9); agriculture and husbandry products (% 10,7); chemical substances (% 8,9) and others, said, Mehmet Akta, Second Secretary of the Embassy of the Republic of Turkey.
A current trade volume is around US$ 128 million with the trade balance being in favour of Sri Lanka and this is expected to be bettered this year. Though trade volumes were at US$ 187 in 2010 there was a dip and its now once again picking up. (2013 trade was at US $ 122 million with imports from Sri Lanka being US $ 84.4 million).
Source: Yarn and fibre
Pakistan home textile, garment and towel sector together account for more than $10 billion of it’s exports to European and North American customers and more than 50% of the country’s total exports. They operate much like an ‘a la carte’ restaurant where each meal is prepared fresh to serve each customer’s unique culinary demand.
The three sector operate under a philosophy called the ‘make-to-order manufacturing strategy. Large western retailers, to whom this industry sells, rely on their sophisticated software to sift through the retail data coming live from thousands of their retail outlets. The software determines which designs are selling and which ones are not.
This demands continuous inputs from designers and their procurement staff. The former modify their designs while the latter keep fine-tuning the re-order quantity of merchandise being sourced from the country. From the moment a firm order is placed, a manufacturer has 4 to 12 weeks to ship it. This time is equally split between procurement and in-house manufacturing activities. The former consumes more than 65% of manufacturer’s sales revenues. Thus, their $10 billion industry approximately spends $6.5 billion on procurement of raw materials, more than twice the country’s annual defence procurement budget.
The quantity of materials ordered has to be accurate too. If ordered short or not ordered at all, the production would halt and the customer order would be delayed, resulting in heavy late shipment penalties. The fact that ultimately the factories do ship their order proves that all materials are procured after all. There are more risks involved when ordering materials in excess, ie, over and above the legitimate requirements of the order. In this case, the error is least likely to be detected. It instantly turns leftover materials into worthless dead stock.
A fabric print, a zipper or a button can be so unique that it may only be used in a single order and nowhere else. The human effort required to determine correct procurement requirements for make-to-order sector is mind numbing. A single order for trousers may involve 10 sizes and 3 colours, thus 30 Stock Keeping Unit (SKU). Each SKU may need 20 different materials such as fabrics, linings, zippers, eyelets, rivets and buttons. Each order may require up to 600 separate calculations to determine its materials.
A mid-sized factory would normally handle a minimum of 50 such orders at any given time. Since all orders contain unique products, this could involve 30,000 unique raw materials to be purchased over a three-to-four-week time window. That’s 1,000 unique items a day. Working with a team of a dozen or so merchandisers, it’s still 200 unique procurement calculations per day per person.
By purchasing materials in correct quantity, a make-to-order manufacturer can avoid losses up to 3% of its revenues. The businesses to buy materials in correct quantity need to deploy a sophisticated technology of Material Requirement Planning .
Source : Yarn and fiber
The most influential event on textile industries in South East Asia territory, INATEX-INDO INTERTEX-TECHNITEX 2015, is scheduled to take place from 23-25 April 2015 at Jakarta International Expo (JIEXPO) Jakarta – Indonesia. This three binding exhibition, with theme, “The Only Trade Platform to Meet ASEAN Garment Industry”, will set as an exclusive business platform for domestic and international quality supplier of textile and garment industries.
There are 490 exhibiting companies from 24 countries all over the world in this event occupying over 12,000 sqm of the JIEXPO exhibition ground consisting of Hall A ( A1, A2 and A3) and Hall D (Hall D1). Paul Kingsen, the exhibition project director stated: “This year we launch new chapter under the name of TECHNITEX which is special exhibition performing all vertical aspect of the raw material, products and equipments relating to nonwoven industries. Since Indonesia has a growing nonwovens and technical textile sector, there would be smooth transition of many producers willing to diversify from traditional textile production. There is one-day seminar on 23 April held by ANFA talking over the potential and opportunity of nonwoven industry to grow in Indonesia”
“INATEX will show all range of material, products and accessories on textile industries. INDO INTERTEX will show new machinery and technology on textile and garment industries. These three exhibitions are also expected to attract more than 8,000 visitors from local and international business owners and professionals who are constantly exploring option to improve their productivity and to respond promptly to customers’ demands”, added Kingsen.
Supported by Indonesia Ministry of Industry, Indonesian Textile Association, Asia Nonwoven Fabrics Association, Indonesian Chamber of Commerce and Industry, Indonesia Exhibition Companies Association as well as other strategic partners, these exhibitions will give you opportunity to meet the international decision makers, developers and buyer of entire value-creation chain.
Source: Yarn and fibre
The World Bank’s East Asia and Pacific Economic Report April 2015 says China’s growth is expected to gradually moderate from 7.1 per cent in 2015 and 6.9 per cent in 2017, reflecting intensified policy efforts to address financial vulnerabilities and structural constraints and to make growth more sustainable. According to the World Bank, the progress in rebalancing the sources of growth in domestic demand will remain gradual. Investment growth will continue to decelerate due to credit tightening and ongoing adjustments in the real estate sector. And economic growth will continue to evolve from an industrial to a services base. Both monetary and fiscal policy stance is expected to remain accommodative to limit risks of too rapid growth slowdown that could trigger disorderly adjustments in accumulated imbalances.
A slower pace of economic growth will bring slower household income growth and hence a deceleration, but not a stop, in the fall of rural poverty. Poverty is expected to decline further—poverty rates in rural areas are projected to decline from 6.4 in 2014 to 2.8 percent in 2017 (the World Bank poverty line of US$ 1.25/day). The World Bank report warns that a failure to strengthen the vulnerabilities in the financial sector could leave the economy increasingly saddled with inefficient firms, bad loans and weaker financial institutions. This could reduce economic activity by undermining productivity growth and increasing capital misallocation. Second, the housing sector might not bottom out, instead continuing to decelerate, further undermining consumer confidence and economic activity. Third, managing local government debt remains a challenge. While policy initiatives to refinance local government debt are targeted to address specific vulnerabilities, accommodative policies if not accompanied with structural reforms will make it more challenging to implement the policies necessary to shift growth to a more sustainable medium-term path.
China’s growth had moderated to 7.4 percent in 2014 as policy efforts to tighten credit growth, reduce overcapacity, internalise the cost of industrial pollution and harden budget constraints of local governments intensified last year. On the supply side, week domestic demand and policy tightening in energy-intensive sectors continued to weigh on industrial activity. In contrast, services remained upbeat as the structure of economic growth continued to evolve from an industrial to a service base.
Average disposable income in urban households grew at real annual rates above 8 per cent between 2010 and 2012, but only at 4.9 per cent in 2014. Similarly, real growth in average net income in rural households went from 12.1 per cent in 2011 to 9.4 per cent in 2014. The combination of falling real urban wages with flat unemployment rates and growing migration indicates that the deceleration of the economy has translated into price (wages) rather than quantity (jobs) adjustment in urban labour markets.
Source: Fibre2fashion
Economic growth will ease slightly in developing countries in East Asia and Pacific this year, even as the region benefits from lower oil prices and a continued economic recovery in developed economies, says a World Bank report. According to the Bank’s East Asia Pacific Economic Update, the developing economies of East Asia are projected to grow by 6.7 per cent in 2015 and 2016, slightly down from 6.9 per cent in 2014. China’s growth is expected to moderate to around 7 per cent in the next two years compared with 7.4 per cent in 2014. Growth in the rest of developing East Asia is expected to rise by half a percentage point, to 5.1 per cent this year, largely driven by domestic demand—thanks to upbeat consumer sentiment and falling oil prices—in the large Southeast Asian economies. Several smaller economies, especially commodity exporters such as Mongolia, will see lower growth.
“Despite slightly slower growth in East Asia, the region will still account for one-third of global growth, twice the combined contribution of all other developing regions,” said Axel van Trotsenburg, World Bank East Asia and Pacific regional vice president. “Lower oil prices will boost domestic demand in most countries in the region and provide policy makers a unique opportunity to push fiscal reforms that will raise revenues and reorient public spending toward infrastructure and other productive uses. These reforms can improve East Asia’s competitiveness and help the region retain its status as the world’s economic growth engine.” Low global oil prices will benefit most developing countries in East Asia, especially Cambodia, Laos, the Philippines, Thailand, and the Pacific island countries. But the region’s net fuel exporters, including Malaysia and Papua New Guinea, will see slower growth and lower government revenues. In Indonesia, the net impact on growth will depend on how much a decline there will be for its coal and gas exports.
The headwinds facing the world economy continue to pose risks to East Asia’s globally-integrated economies. The recovery in high-income countries continues to be slow and uneven, and a downturn in the eurozone and Japan would weaken global trade. Higher US interest rates and an appreciating US dollar, along with diverging monetary policy paths across advanced economies, could raise borrowing costs, generate financial volatility and reduce capital flows to East Asia. The continued strengthening of the dollar against other major currencies also could hurt highly-dollarized economies such as Cambodia and Timor-Leste. In most of the larger East Asian economies, efforts to bolster revenues and restructure spending can help fill the gap in infrastructure investments and create more funding for social protection and insurance programmes, which are already under pressure amid rapid aging in the region, the report says. The report said that in the major fuel exporting countries and Mongolia, fiscal consolidation is required.
Source: Fibre2fashion
In the Chinese domestic market, prices of Cotton Linter were spotted at RMB 2415/ton in the last week ending April 17, which were stable as compared to the previous week ending April 10, 2015. In the last updates from market, offer prices were in the range of RMB 2515/ton to RMB 2715/ton. Trading prices were at RMB 2415/ton. Prices of Dissolving Pulp were assessed at RMB 6075/ton in the last week, which were steady compared to the previous week. Prices of imported Dissolving Wood Pulp were quoted in the range of US$ 795/ton to US$ 800/ton. Prices of Pulp imported from the US and Europe hovered in the range of US$ 830/ton to US$ 840/ton and US$ 820/ton to US$ 830/ton respectively, while those from Canada were in the range of US$ 750/ton to US$ 780/ton. Prices of Pulp imported from Sweden were between US$ 795/ton and US$ 800/ton.
VSF prices were witnessed at RMB 11790/ton in the last week, which were up compared to the previous week. During the week, VSF market opened at RMB 11700/ton and closed at RMB 11900/ton level. In the Chinese market, offers for imported VSF hovered in the range of US$ 1.56/kg to US$ 1.58/kg. Market analysts expect VSF prices to remain stable in the ongoing week. In the last week, VFY prices increased and were offered at RMB 35800/ton. VFY market sentiments were good. Producers kept offers in the range of RMB 35750/ton to RMB 35800/ton. In the Chinese market, offers for imported VFY were steady and were in the range of US$ 5600/ton to US$ 5650/ton.
Source: Fibre2fasion
Japan's Economics Minister Akira Amari (R) shakes hands with U.S. Trade Representative Michael Froman ahead of their meeting in Tokyo April 19, 2015. The United States and Japan made significant progress in trade talks over the past days, adding momentum to multilateral efforts toward a free-trade pact, both sides said on Tuesday. "Through these efforts, the gaps between the two sides have been substantially narrowed," U.S. Trade Representative Michael Froman said after two days of talks with Economy Minister Akira Amari. "But continued work is needed to ultimately resolve the outstanding issues." Amari told reporters the long-running bilateral talks had made enough progress to be welcomed at a summit on April 28 between Prime Minister Shinzo Abe and President Barack Obama -- the goal he had declared for the ministerial talks. "The negotiations are at the final stage," Amari said. "We will continue to make utmost efforts toward an early agreement, maximizing our national interests."
Progress in the talks begun at the working level last week adds momentum to multilateral efforts toward a free-trade pact, Froman said. A bilateral deal is considered vital to a long-delayed deal in the Trans-Pacific Partnership (TPP) trade pact, as their economies account for 80 percent of the 12-nation group. The ministers instructed their officials to work on the remaining issues of access to the Japanese rice market and the U.S. car market, Amari said. He and Froman could meet again if necessary. Abe, speaking on a news program late on Monday, said the discussion had narrowed to a few, lingering items. Abe likened the talks to mountain climbing, saying there was "one, tough stretch" to complete. "We would like to redouble our efforts so that a deal can be reached," he said. Related Coverage
Amari on Sunday said Japan would not accept a U.S. demand to substantially expand its rice imports, while pressing Washington to further open the U.S. car-parts market. Japan is set to allow a special quota of about 100,000 tonnes a year for rice imports from its 11 TPP partners, the bulk of which is expected to come from the United States, the Nikkei business daily said. The United States is demanding roughly double the size of quota, the Nikkei said. Japan has sought immediate abolition of a 2.5 percent tariff on U.S. imports of auto parts, but Washington, under pressure from the politically powerful auto industry, wants to maintain auto-related tariffs as long as possible, the newspaper said.
Prospects for the bilateral deal improved on Thursday, when senior U.S. lawmakers agreed on the wording of a bill to give Congress a yes-or-no vote on TPP but not the power to alter a deal. However, passage of the "fast track" bill, which Japan says is essential, remains far from assured. Washington and Tokyo see strategic as well as economic value to a broad TPP deal as a counterweight to rising China, which has not joined the group.
SOURCE: Reuters
