Textile Raw Material Price 2015-05-24
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1278.76 |
RMB/Ton |
1.29% |
5/24/2015 |
|
VSF |
2042.75 |
RMB/Ton |
0% |
5/24/2015 |
|
ASF |
2496.24 |
RMB/Ton |
0% |
5/24/2015 |
|
Polyester POY |
1274.68 |
RMB/Ton |
-0.38% |
5/24/2015 |
|
Nylon FDY |
3137.66 |
RMB/Ton |
0% |
5/24/2015 |
|
40D Spandex |
6487.77 |
RMB/Ton |
-0.75% |
5/24/2015 |
|
Nylon DTY |
3382.79 |
RMB/Ton |
0% |
5/24/2015 |
|
Viscose Long Filament |
5948.49 |
RMB/Ton |
0.14% |
5/24/2015 |
|
Polyester DTY |
1552.49 |
RMB/Ton |
-1.55% |
5/24/2015 |
|
Nylon POY |
2941.56 |
RMB/Ton |
0% |
5/24/2015 |
|
Acrylic Top 3D |
2691.53 |
RMB/Ton |
0% |
5/24/2015 |
|
Polyester FDY |
1503.46 |
RMB/Ton |
0% |
5/24/2015 |
|
30S Spun Rayon Yarn |
2729.11 |
RMB/Ton |
0% |
5/24/2015 |
|
32S Polyester Yarn |
2042.75 |
RMB/Ton |
0% |
5/24/2015 |
|
45S T/C Yarn |
2990.59 |
RMB/Ton |
0% |
5/24/2015 |
|
45S Polyester Yarn |
2206.17 |
RMB/Ton |
0% |
5/24/2015 |
|
T/C Yarn 65/35 32S |
2549.35 |
RMB/Ton |
-0.64% |
5/24/2015 |
|
40S Rayon Yarn |
2892.53 |
RMB/Ton |
0% |
5/24/2015 |
|
T/R Yarn 65/35 32S |
2761.80 |
RMB/Ton |
0% |
5/24/2015 |
|
10S Denim Fabric |
1.14 |
RMB/Meter |
0% |
5/24/2015 |
|
32S Twill Fabric |
1.00 |
RMB/Meter |
0% |
5/24/2015 |
|
40S Combed Poplin |
1.36 |
RMB/Meter |
0% |
5/24/2015 |
|
30S Rayon Fabric |
0.78 |
RMB/Meter |
0% |
5/24/2015 |
|
45S T/C Fabric |
0.79 |
RMB/Meter |
0% |
5/24/2015 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.16342 USD dtd. 24/05/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
A Parliamentary standing committee recently pulled up the textile ministry for spending just 39% of the outlay approved for the entire 12th Plan period (2012-17) in the first three years, and sought a “concrete plan” of expenditure for the next two years. Against the approved outlay of Rs 25,931 crore for the whole of the current Plan period, the cumulative expenditure from 2012-13 through 2014-15 was just R10, 109.41 crore, according to the report by the standing committee, headed by BJP MP Virendra Kumar. The expenditure in the first three years of the current Plan period is only 25% of the outlay of R40, 203.19 crore the textile ministry had demanded for the entire Plan period.
The committee sought to know why the ministry hasn’t been able to spend the allocated amount and asked if it would be able to utilise the remaining 63% of the approved outlay in just two years. The ministry has blamed the “step-wise procedures and time-lag in the implementation of schemes” from concept stage to in-principle approvals to consultations with states, among others, for the delay. It said it had been able to firm up all the major schemes after due procedure at the end of the third year of the current Plan and expenditure has been accelerated since 2014-15. “All efforts will be made to sustain this accelerated momentum into 2015-16 and 2016-17,” the ministry had said.
When the committee wished to be apprised of “the concrete plan of action” to “optimally utilise” the Plan outlay in the next two years, the ministry said: “Weekly monitoring is being done by the secretary (textile) in the presence of all senior officers, which has led to higher expenditure under most schemes.” The ministry also said for the schemes which require proposals from states, regular interactions with chief secretaries of theose states are being done. States have also been told to expedite fund transfer to the implementing agencies for various schemes, among other things.
SOURCE: The Financial Express
Meghalaya Chief Minister Mukul Sangma on Friday laid the foundation stone of an apparel and garment centre to be set up under the North East Region Textiles Promotion Scheme. The state government has been working in tandem with the Government of India to create multiple opportunities for the youth workforce with number of interventions which include various skill and entrepreneurship development programmes, the chief minister said. "The focus of the state government has been to create job spaces for the youth within the State rather than the usual placement for jobs in other parts of the country," he said. Union Minister of State for Textiles Santosh Kumar Gangwar, who was present on the occasion, said that there was a need to jointly work towards growth and development stating that handloom and handicraft is essential everywhere in the world.
Referring to Narendra Modi who after taking over charge as the Prime Minister of India had expressed his concern for the North East, he stated the importance of working towards the growth and development of the region and also mentioned that Bangladesh which is close to the state is also faring well in the textile industry in the world. Gangwar also said that with proper availability of land, the Government can work towards initiating textile industry in the region, adding that is a fruitful industry that can provide easy employment for anyone and an attractive form of employment for the people of Northeast. The Union Minister of State also informed the gathering that the Union Govt will be setting up silk industry in the entire Northeast under Rs.30 crore budget out of which the Union Govt will pay Rs.29.9 crore and also increase handloom clusters in collaboration with NIFT with 72 clusters in Meghalaya alone.
SOURCE: The Statesman
When the rupee appreciates against the greenback, exporters make a hue and cry about the resultant loss of their competitiveness in key markets. But a look at India’s export performance over the last few years would reveal that the country’s shipments are more responsive to the global GDP growth and prices of some commodities that form bulk of its export basket rather than the rupee’s movements against the dollar. The global trade growth, though keenly related to world economic growth (which determines the global demand), however, has a less pronounced impact on India’s exports, given that we are still a marginal player in the global trade, with less than 2% share. What matters, also, is how the currencies of some of our competitors fare in relation to rupee against the dollar. That a softening of the global prices of commodities — like crude oil, farm items, cotton, basic chemicals and copper — can have a deleterious impact on Indian exports is evident in the recent months’ contraction in our shipments. While it is widely recognized that the a fall in global oil prices could significantly reduce India’s import bill, a less noticed fact is that a softening of oil prices could hit exports, given that petroleum products now form a major chunk (20%) of them. India’s exports got off to a terrible start in the current fiscal with shipments shrinking 14% in April, contraction for the fifth consecutive month. Significantly, the rupees in these months have depreciated less against the dollar when compared to other major currencies such as euro, pound sterling and yen. Exports of petroleum products had fallen 46.5% in April.
SOURCE: The Financial Express
There is optimism in the air and the economy is set to achieve stronger growth, Finance Minister Arun Jaitley said on Friday, reiterating his government’s strong commitment to implementing the Goods & Services Tax (GST) from April 1 next year. “There was a general environment of gloom before the BJP took over a year back. This has now been replaced by an environment of optimism,” he said at a press conference called to highlight the achievements of the Narendra Modi government’s first year in office. The BJP-led NDA government will complete one year on May 25 and has organised a series of press conferences, which kicked off on Friday.
‘Green shoots’
Jaitley said there are two indicators that can be termed as ‘green shoots.’ First, bad debts (non-performing assets) of banks have declined to 5.2 per cent as of March-end 2015 from 5.64 per cent at the end of December 2014. Second, indirect tax collections grew by 46.2 per cent in April to Rs. 47,747 crore, with excise duty collection logging over 112 per cent growth. The Finance Minister said that decisiveness even in the face of obstructions has been the hallmark of this government. “India has the potential to touch a double-digit growth rate, provided decision-making is quick,” he said, adding that the government is reforming and liberalising, but there is no place for crony capitalism. On decision-making, he said, “If it takes us from 2006 to 2015 to decide on the GST policy, we don’t send the best signals globally. Therefore, when we obstruct, we must realise that it is eventually the journey to 10 per cent (gross domestic product growth rate) that we are obstructing,” he said, pointing a finger at the Opposition.
Opposition faulted
Alluding to the UPA government, Jaitley claimed that the NDA government had not been dragged down by corruption charges and this, along with speedier decision-making, has improved the outlook for the economy. He cited economic indicators such as falling current account and fiscal deficits and rising foreign exchange reserves as proof of a strengthening economy. The government estimates growth to be 8-8.5 per cent. However, there are some concerns over GST and the Land Bill, both of which are being scrutinised by Parliamentary panels after Opposition pressure. Jaitley sought to allay the concerns, saying getting the two Bills approved in the next session of Parliament is a priority. The Modi government, Jaitley said, is both pro-growth and pro-development. “Our social security programmes will be one of the strongest ever in this country, but certainly the policy will be one of arms-length distance, in terms of decision-making, from individual business houses.”
SOURCE: The Hindu Business Line
Shankar Vanavarayar, Joint Correspondent, Kumaraguru College of Technology (KCT) and President of Indian Textile Accessories and Machinery Manufacturer’s Association, (ITAMMA) Mumbai S Senthilkumar, signed a MoU this week. It includes setting up a Common Facility Centre for Textile Engineering Industry at the campus. Over the last three decades, several new programmes have been introduced and the institution has emerged as a trusted destination for quality technical education and as a hub for research and innovation. The college is ISO certified and is accredited by NAAC. Several programmes offered by KCT are accredited by NBA. In addition to a host of engineering and allied engineering courses, KCT has also gained recognition for its uniquely tailored management education programmes. The Centre, set up under the Cluster Development Programme, Ministry of Micro, Small and Medium Enterprises, will have a testing and quality control facility for engineering and plastics, among others, a KCT release said. The facility will benefit over 70 Textile Accessories and Machinery Manufacturing Industries in and around the city, it said.
‘Indian Textile Accessories & Machinery Manufacturers’ Association’, the representing-body of Textile Engineering Industry in India, has a strength is around 450 members drawn from all centres of the Textile Engineering Industry in India. It has above 1000 members including members of Textile Machinery & Mill Stores Merchants Associations at Ahmedabad, Bhiwandi, Coimbatore, and Madhya Pradesh.
SOURCE: Yarns&Fibers
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$ 63.68 per barrel (bbl) on 22.05.2015. This was higher than the price of US$ 63.46 per bbl on previous publishing day of 21.05.2015. In rupee terms, the price of Indian Basket increased to Rs 4048.14 per bbl on 22.05.2015 as compared to Rs 4042.40 per bbl on 21.05.2015. Rupee closed stronger at Rs 63.57 per US$ on 22.05.2015 as against Rs 63.70 per US$ on 21.05.2015. The table below gives details in this regard:
|
Particulars |
Unit |
Price on May 22, 2015 (Previous trading day i.e. 21.05.2015) |
Pricing Fortnight for 16.05.2015 (April 29 to May 13, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
63.68 (63.46) |
64.51 |
|
(Rs/bbl |
4048.14 (4042.40) |
4115.09 |
|
|
Exchange Rate |
(Rs/$) |
63.57 (63.70) |
63.79 |
SOURCE: PIB
Overseas work orders for the country’s apparel industry have started to rise, as an apparently calm political situation in the country has restored confidence of global clothing retailers. According to Bangladesh Garment Manufacturers and Exporters Association (BGMEA) data, the number of taking Utilisation Declaration (UDs) that reflects the trend of production to be performed has increased in April compared to previous months. RMG product manufacturers have taken 2,704 UDs, which were 2,415 in March, BGMEA data showed.
From the very beginning of January, the country’s export-oriented RMG and other sectors suffered severe trouble due to political unrest that took a heavy toll on the economy. As a result, the global retailers lowered placing their work orders as they were afraid of timely shipment. “The work orders for the clothing industry increased as the global buyers are feeling much more confidence due to calm political situation after a setback in January-March period, BGMEA Vice-President Reaz Bin Mahmood told the Dhaka Tribune. On the other hand, positive inspection report on safety standards also acted as a catalyst, said Reaz. The present trend of placing work orders also proves that the buyers kept their promises of not leaving Bangladesh in sourcing RMG products, Reaz added. It is a good sign for Bangladesh and it has been proved that Bangladesh’s RMG sector is safe which is again on track, he further said. “As the uncertainty is over, the orders will increase as usual, Exporters Association of Bangladesh (EAB) President Abdus Salam Murshedy told the Dhaka Tribune. These orders do not reflect the full-fledged confidence of buyers and it may be the reflection of seasonal orders, said Salam. “If the trend continues, we can make a comeback.” But the Giant Group Managing Director, Faruque Hassan, said though the sector witnessed a rise in getting work orders, it did not reach an expected level. Production cost has increased due to compliance issues, and because of higher prices, Bangladesh fails to gain expected works orders, observed Faruque. He emphasised competitiveness for regaining the momentum of work orders.
According to Export Promotion Bureau (EPB) data, in July-April period of the current fiscal year, Bangladesh earned $20.56bn by exporting clothes, which is 2.98% higher compared to the same period in last financial year. Currently, RMG sector contributes over 81% to the total export earnings. The government has also set the export target of over $26.89bn for the apparel sector, which employed over 4.4m workers, mostly rural women.
SOURCE: The Global Textiles
The export of textile goods grew by a marginal 2pc to $1.08bn in April, according to data released by the Pakistan Bureau of Statistics. However, the value-added textile segment managed to grow by an impressive 11pc on a year-on-year (YoY) basis to $607mn. This is mainly attributable to a 4pc yearly depreciation of the rupee and the country’s enhanced market access to the European Union region. The value-added sector benefitted from higher exports of knitwear, bedwear and garments. During the month, garment exports rose 15pc to $174m due to a 16pc increase in realised prices, despite a 1pc reduction in volumes. Similarly, knitwear exports went up 9pc to $190.7m as prices rose by 22.6pc. Meanwhile, bedwear exports jumped 11pc to $177.5m, as a 9.6pc reduction in prices corresponded with a 22.8pc growth in sales volumes.
On the flip side, the basic textile segment continued its poor run and shrank by 9pc YoY to $341m, led by an 8pc decline in cotton yarn exports. On a sequential basis, textile exports displayed an encouraging growth of 5pc in April, whereas value-added exports went up 10pc. However, basic textile exports shrank 3pc over the previous month. Cumulatively in the first 10 months of this fiscal, textile exports dropped by 1pc to $11.3bn over the same period last year. While value-added textile exports grew by 5pc to $6.1bn, this was offset by a sharp 10pc decline in basic textile exports to $3.8bn. Readymade garments continued to be the outperformer in terms of export performance, which highlights the product category’s bright prospects. Yarn exports (in volumes) displayed an encouraging growth of 13pc YoY, but an 18.6pc decline in average prices led the dollar-valued export figure to fall 8pc to $123.7m. Similarly, cotton cloth volumes improved by 10pc but the value of the exports went down owing to a 12.9pc reduction in average prices.
SOURCE: The Dawn
Nafiu Badaru, a junior civil servant in northern Nigeria's biggest city Kano, doesn't make much money and it takes some cash to look good so he tends to buy made-in-China fabric. "A piece of high-quality brocade (cloth) costs around 10,000 naira ($50, 47 euros), which is way too expensive for me," he told AFP. "With the same amount of money I can buy six pieces of cheap Chinese brocade which cost only 1,500 naira a piece and still keep some change." The proliferation of Chinese-made textiles is a boon for consumers like Nafiu, with Kano and the wider north struggling with unemployment and economic constraints. But traders in the city - a centre of weaving and textile manufacturing dating back centuries - say such cheaper imports have been disastrous.
Factories have shut and trade in home-spun fabrics has dwindled, prompting calls for foreign investment within Nigeria rather than cheap, mass importation, as well as better regulation. Fatuhu Gambo's business is one of many in dire straits. For the past two weeks he has not sold a single fabric in his shop in the Kantin Kwari textile market - the largest in West Africa. "The Chinese have effectively edged us out of business, leaving us with nothing but huge debts and heaps of goods in our shops," he said. Talk in the market - a colourful rabbit's warren of shops and stalls that draws traders from Nigeria, Niger, Chad, Cameroon to Mali and the Central African Republic - is of unfair competition. "The Chinese have taken over the importation and distribution of textiles in Kano and now they are into retail trading, which is putting our traders out of business," said traders' union head Liti Kulkul. The troubles began a decade ago when Chinese textile merchants started the massive importation of textiles to Nigeria after Africa's most populous nation opened its doors to foreign trade.
The World Trade Organisation deal gave the Chinese unfettered access to Nigeria's textile market, although Nigerian laws prohibit foreigners from retail trading. Traders talk of locals being recruited to conduct business on behalf of the Chinese in return for a cut of the profits. There have been occasional crackdowns, like in May 2012, when immigration officials arrested and deported 45 Chinese nationals over retail trading after repeated complaints. Earlier this month, customs officials arrested four Chinese traders for smuggling mass-produced fabrics and sealed 26 warehouses containing goods on which import duties had not been paid.
Hundreds of textile dyers then staged street protests against what they view as a Chinese takeover of their trade that threatens to put 30,000 artisans out of business. The dyers, many of whom still use methods dating back more than 500 years, accused the Chinese of faking their products and selling inferior cloth at a fraction of the price. The situation is just one aspect of the struggle facing Nigeria's crude-dependent economy, which has been hit hard by the slump in global oil prices since mid-2014. There is little domestic manufacturing to speak of, forcing goods from cars to foodstuffs to be imported. The local Muslim religious leader the Emir of Kano, Muhammadu Sanusi II, met China's ambassador to Nigeria at his palace recently and called on Beijing to set up factories in the country. "Our over-reliance on foreign products is hurting our economy and the only way to stop this trend is to tackle the problems in the manufacturing sector," said Sanusi, a former central bank governor.
Sa'idu Adhama, a former textile factory owner, said Nigerian traders cannot compete with their Chinese counterparts, who can get bank loans at single digit rates over a longer term. "The Chinese are here legally, so we can't send them packing but we can regulate their trading," said Adhama, who studied in China in the 1970s. That could include quotas, stricter enforcement of import regulations, duties and taxes as well as fuel subsidies to boost local manufacturing and help home-grown businesses, he added. Long-term investment in the power sector to stabilise the currently woeful electricity supply could also revive moribund factories, he said. In the meantime, the debate is immaterial to people like Badaru, with cheaper foreign imports satisfying demand for a growing consumer society, whether it is clothing or electronics. "For me and most low-income earners, Chinese textiles are a blessing. They give us the opportunity to appear neat and elegant with little money," he said.
SOURCE: The Business Recorder
The Chinese Vice Premier Lio Yandong met Sheikh Hasina on Sunday during a visit to Dhaka. "The Chinese leader was all praises for Sheikh Hasina's leadership and Bangladesh's economic performance under her, specially the country's ability to maintain GDP growth at 6 percent plus," said the prime minister's Press Secretary A K M Shameem Chowdhuri. He said the Chinese Vice Premier expressed the hope that Bangladesh would become a middle income country by 2021 .China would provide all necessary support, Choudhuri quoted Lio Yandong as saying.He said the Chinese vice premier proposed relocation of China's labour intensive industries in Bangladesh which could benefit both countries. Lio also extended an invitation to Sheikh Hasina to visit China at the earliest on behalf of Premier Li Keqiang.
Bangladesh and China signed three MOUs, two cooperation agreement and one exchange of notes in the field of education, media and trade .These were signed in presence of the Chinese vice premier and Prime Minister Hasina at Ganabhaban to improve bilateral ties between the two countries. The MoU on Cooperation in Education between the ministries of education of the two countries was signed by Education Secretary of Bangladesh Md Nazrul Islam Khan and Chinese Education Minister Yuan Guiren. The Ministry of Information of Bangladesh and the State Administration of Press, Publication of China signed a MoU for cooperation in the fields of radio, film and television. Information Secretary Martuza Ahmed and Vice Minister of China Tong Gang signed the MoU. Another MoU between the Dhaka University and Beijing Foreign Studies University was signed for cooperation in the areas of exchange of students, faculty, scholars and administrative staff, research collaboration and sharing of academic materials and information.
Dhaka University Vice Chancellor Prof AAMS Arefin Siddique and President of BFSU Peng Long signed the MoU. Southeast University of Bangladesh and Wuhan Textile University, China signed an agreement for Cooperation in joint undergraduate programme on textile engineering. Southeast University Vice Chancellor Prof Anwar Hossain and WTU Chancellor Wei Yiliang signed the agreement. The other cooperation agreement was signed between BGMEA University of Fashion and Technology, Bangladesh and Wuhan Textile University, China for joint undergraduate programme on fashion design. Founder chairman of BGMEA University Muzaffar U Siddique and WTU Chancellor Wei Yiliang signed the instrument. The lone exchange of notes between Bangladesh and China on container inspection equipment project was signed by ERD Senior Secretary Mohammad Mejbahuddin and Chinese Ambassador to Bangladesh Ma Mingqiang.
SOURCE: The BD News 24
