Textile Raw Material Price 2015-05-25
|
Item |
Price |
Unit |
Fluctuation |
|
PSF |
1277.98 |
USD/Ton |
0% |
|
VSF |
2038.23 |
USD/Ton |
-0.16% |
|
ASF |
2494.71 |
USD/Ton |
0% |
|
Polyester POY |
1265.73 |
USD/Ton |
-0.64% |
|
Nylon FDY |
3135.74 |
USD/Ton |
0% |
|
40D Spandex |
6483.8 |
USD/Ton |
0% |
|
Nylon DTY |
3380.72 |
USD/Ton |
0% |
|
Viscose Long Filament |
5953.01 |
USD/Ton |
0.14% |
|
Polyester DTY |
1543.37 |
USD/Ton |
-0.53% |
|
Nylon POY |
2939.76 |
USD/Ton |
0% |
|
Acrylic Top 3D |
2689.88 |
USD/Ton |
0% |
|
Polyester FDY |
1502.54 |
USD/Ton |
0% |
|
30S Spun Rayon Yarn |
2727.44 |
USD/Ton |
0% |
|
32S Polyester Yarn |
2041.5 |
USD/Ton |
0% |
|
45S T/C Yarn |
2988.76 |
USD/Ton |
0% |
|
45S Polyester Yarn |
2204.82 |
USD/Ton |
0% |
|
T/C Yarn 65/35 32S |
2547.79 |
USD/Ton |
0% |
|
40S Rayon Yarn |
2890.76 |
USD/Ton |
0% |
|
T/R Yarn 65/35 32S |
2760.11 |
USD/Ton |
0% |
|
10S Denim Fabric |
1.14 |
USD/Meter |
0% |
|
32S Twill Fabric |
1 |
USD/Meter |
0% |
|
40S Combed Poplin |
1.36 |
USD/Meter |
0% |
|
30S Rayon Fabric |
0.78 |
USD/Meter |
0% |
|
45S T/C Fabric |
0.78 |
USD/Meter |
-0.83% |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.16332USD dtd. 25/05/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Country's textile and garment exports registered an almost flat growth at USD 41.4 billion in FY 2014-15, against USD 40.8 billion in the previous fiscal, falling short of USD 45 billion target for the year. The new National Textiles Policy being finalised by the government aims raising exports to USD 300 billion by 2024-25. The Textiles Ministry has set an exports target of USD 47.5 billion for the current fiscal. "Textile exports in 2014-15 stood at 41.4 billion as against a target of 45 billion. For the current fiscal, we have set a target of 47.5 billion," Textiles Secretary S K Panda said while addressing a press conference here. Besides, Panda told PTI that new National Textiles Policy, which aims to achieve USD 300 billion exports by 2024-25 and envisages creation of additional 35 million jobs, may be announced in mid-July, after the Cabinet approval. Panda also said the Ministry has sought Rs 13,000 crore for the Technology Upgradation Fund (TUF) scheme for the 12th Five Year Plan (2012-17). "We have sought Rs 13,000 crore for the TUF scheme from the Finance Ministry. We had sought Rs 12,000 crore for the 12th Five Year Plan but only Rs 7,000 crore has been assigned. So we are hoping that we get remaining Rs 6,000 crore out of the Rs 13,000 crore demanded in the next 2 years," he said.
Besides, Textiles Minister Santosh Gangwar expressed concern on the condition of handloom weavers in the country. He also pointed out that during the past one year, the government has approved 20 textiles parks under the scheme for integrated textiles parks (SITP), which are likely to create 75,000 jobs. Gangwar informed that India has become the largest cotton producing country in the world. Keeping in view the various changes in the textile industry on the domestic and international fronts and the need for a roadmap for the textile and apparel industry, Ministry of Textiles had initiated the process of reviewing the National Textile Policy, 2000. The draft of Vision, Strategy & Action Plan for Indian Textiles & Apparels (2024) was earlier put up on the website of Textiles Ministry for inviting online comments/suggestions. The government is in the process of finalising it for seeking the Cabinet approval.
For its part, the textile ministry has sought a quick resolution of the India-EU free trade agreement, which would pave the way for duty-free access of Indian textile and garment items to the EU, which account for more than a third of the country’s garment exports, the senior ministry official told FE. Similarly, the ministry has asked for the continuation of the interest subvention scheme, which was withdrawn from late 2014, to boost exports. Industry executives say under the scheme, certain segments like the SMEs, handlooms, handicrafts and garments, were entitled to a 3% interest subvention on export credit. Moreover, currently domestic textile exporters are given a 2% export incentive for outbound shipments only to the US, the EU, Canada and Japan — the markets where the apetite is far more for garments than for textiles. The industry wants certain incentives to capture markets in countries such as Bangladesh, Vietnam and Cambodia.
The Textile Ministry has approached the Commerce Ministry to include garments in the interest subvention scheme to help it compete with Vietnam, Sri Lanka and Bangladesh. “The question is how do remain competitive. The main requests to the Commerce Ministry are the reinstatement of the interest subvention scheme and to give benefits to countries other than Europe and the US,” said Sanjay Kumar Panda, Secretary, Textiles Ministry.
SOURCE: The Economic Times
The entrepreneurs of the Tamil Nadu textile industries have requested minister of state, road transport, highways and shipping, Pon Radhakrishnan to help solve the most pressing problems of the textile sector, according to media reports. The entrepreneurs also presented a memorandum to Radhakrishnan and Muralidhar Rao, national general secretary of the BJP at a meeting held in Chennai on May 24. The members of various textile associations demanded the Central government to provide relaxation of cabotage laws, access to man-made fibres at international prices, and also install mega solar power projects at the spinning mills. Regarding man-made fibre, they demanded rationalisation of the duty structure of polyester and viscose fibre to enable Indian textile industry access man-made fibre at international prices, so that the industry could tap the vast opportunities in the global MMF apparel market.
The textile industries can look forward to discuss and solve their issues concerned at a meet to be convened in Delhi in July. “The industrial heads from across Tamil Nadu can meet up for a discussion in Delhi to find solutions to issues concerning them,” Radhakrishnan said. Muralidhar Rao, who also addressed the industrialists, said the challenge for the BJP government in the coming days is not over getting new investments or projects, but addressing stressed capital. "After investing huge sums, if the investor fails to complete the last mile and get the project up and operational, huge sums - be it bank money or other borrowings, go waste. We have to address this issue, else the Make in India campaign will not become a meaningful exercise," Rao told the textile entrepreneurs. After lending a patient ear to the industry's appeal on various issues, Rao said "for the first time in many years, I see you starving." He said that revival of the economy is going to be the test and the government is committed to it and urged the participants to gear up for a seminar in Delhi to highlight the industry's achievements and vision.
SOURCE: Fibre2fashion
With a view to meeting the need of the textile industry for a skilled workforce, Textile Minister Santosh Kumar Gangwar today said the government would impart training to 15 lakhs youth under different programmes. Addressing the mediapersons on the occasion of NDA governments one year in power, Mr Gangwar said, ''We will train 15 lakh youths throughout the country. Apparel and garment industries will be set up in the eastern states including UP, Bihar and other north eastern states, so that jobs can be created within the states which will benefit its population. ‘The Minister said the state government has to provide land for building a plant, the entire cost would be born by the Centre.The guidelines have been simplified for facilitating setting up of textile parks in all states, giving particular attention to relatively less industrialized ones, Mr Gangwar said.On export of textiles, the Minister said it has increased by three per cent to Rs 2.55 lakh crore in 2014-15 as compared to Rs 2.48 lakh crore last year.Growth in export of certain segments reported high in last fiscal, the exports of handicrafts increased by 17 per cent, carpets by 15 per cent, readymade garments by 12 per cent, silk by 13 per cent, wool and woollen textiles by 18 per cent.
SOURCE: Web India 123
The Reserve Bank of India (RBI) is expected to go for a third cut in interest rates this year. The unanimous response to a Business Standard poll of 10 market participants was Governor Raghuram Rajan would reduce the repo rate by 25 basis points (bps) in the monetary policy review on June 2, as inflation was benign and there was a need to support growth. Since the beginning of this year, the central bank has reduced the repo rate by 50 bps (two rate cuts of 25 bps each). "Inflation is much below what RBI and most others were expecting. But the investment cycle and industrial production remain weak. There is a possibility of a rate cut. However, the transmission of policy rate cuts would depend on other factors, too. For example, banks have not been very aggressive with lending and their cost of raising money has to come down," said D K Joshi, senior director and chief economist, CRISIL.
Data released earlier this month showed for April, Consumer Price Index (CPI)-based inflation eased to 4.86 per cent, the lowest in four months, owing to declining food prices. Inflation has been undershooting RBI's latest inflation trajectory and this has led to hope of a rate cut. RBI has set an inflation target of less than six per cent by January 2016 and four per cent (+/-2) by the end of the two years starting 2016-17. On April 7, at its first bi-monthly monetary policy review for this financial year, the central bank had kept the repo rate unchanged at 7.5 per cent, saying monetary transmission would determine further action on rates. The central bank had nudged banks to cut lending rates, following which lenders began monetary transmission.
According to the BS poll respondents, concern over prices due to unseasonal rain has ebbed, which makes a case for further monetary easing. For April, CPI-based food inflation was 5.11 per cent, against 6.14 per cent in March and 9.21 per cent in April 2014. "It is almost as though the unseasonal rain in March didn't happen. In April, food prices fell further, both on a year-on-year and a sequential basis. There are two broad food effects at play - fruit, vegetables and edible oils buttressed the fall in prices, while pulses and the egg, meat and fish categories saw price increases," said Pranjul Bhandari, chief India economist at HSBC Securities and Capital Markets (India). In the policy review in April, Rajan had said so far this year, inflation had been on projected lines, after a sizable undershoot of the target for January. He added for the first quarter of 2015-16, CPI inflation was projected at its current levels, before moderating to about four per cent by August and firming up to 5.8 per cent by the end of the year. However, nine out of the 10 respondents believe the cash reserve ratio (CRR) will be kept unchanged, as liquidity is not a constraint. One respondent declined to comment on this issue.
CRR is the proportion of total deposits a bank has to keep with RBI as cash. Currently, it stands at four per cent of a bank's net demand and time liabilities. Banks do not earn interest on CRR deposits. Commercial bankers said a further repo rate cut might not lead to lending rate cuts, adding reduction in the CRR alone would give banks room to cut lending rates. Bankers sought a 50-bps CRR cut, which would release Rs 40,000 crore of liquidity from banks; these funds could be deployed in interest-earning assets. Experts said a rate cut in June could be the last for this financial year. "We are not expecting a further cut in the repo rate this financial year, after the June 2 rate cut. This is because we don't expect inflation to fall much further than what we already anticipated. Based on our expectations of inflation this year, a repo rate of 7.25 per cent is appropriate," said A Prasanna, chief economist, ICICI Securities Primary Dealership.
SOURCE: The Business Standard
The exports of textiles and garments from China showed a double-digit decline in the month of April 2015. In April, China’s textile and apparel exports fell 16.3 per cent year-on-year to $19.88 billion, of which textile exports dropped by 10.8 per cent and garment exports dropped by 20.8 per cent, showed data released by the General Administration of Customs. In terms of RMB also China’s textile and garment exports decreased by 16 per cent year-on-year to 122.24 billion yuan during the month. April 2015 exports of $19.88 billion were lower than 2013 and 2014 exports of $22.28 billion and $23.75 billion, respectively, which increased by 18.5 per cent and 6.6 per cent. From January to April 2015, China’s cumulative textile and clothing exports stood at $79.64 billion, down 2.7 per cent year-on-year, of which textile exports fell 0.5 per cent while apparel exports dropped 4.2 per cent. In terms of RMB, China’s total textile and apparel exports declined 2.5 per cent to 488.34 billion yuan during the four-month period. The cumulative growth rate of China’s textile and apparel exports during January-April has declined for the first time since 2011. The growth rate was 27 per cent, 0.5 per cent, 16.5 per cent and 2.1 per cent in dollar terms in 2011, 2012, 2013 and 2014 respectively. Although there is great pressure on the Chinese textile and apparel exports, it would be too early to consider it as a turning point.
SOURCE: Fibre2fashion
All Pakistan Textile Mills Association (APTMA) on Monday urged the government to utilize growth potential of textile industry for employment creation. Association's Chairman S.M. Tanveer stated here that he had put forward budget proposals which also stressed the need to operationalize closed capacity by providing guaranteed uninterrupted energy supply to export-oriented textile industry at competitive rates. Fiscal incentives including zero rating tax holiday, interest support for new investments in all textile sectors should be ensured without excluding the spinning sector, which has lagged behind competitors due to present inefficient technology, he added.
The textile industry should be zero rated in terms of all the federal, provincial, local, cess, levies and duties by factoring in the drawback of local taxes and levies by extending five, ten and 15 percent duty drawbacks against the export of yarn, fabrics and made-up/clothing respectively. He said, the government should clear the long pending refunds, which are estimated to be around Rs 100 billion enabling ample liquidity for the industry to remain afloat, asserting that government should also restore original zero rating regime, and should not burden basic raw materials including polyester, staple fibre (PSF), viscose and cotton with upfront duties and taxes including customs at six percent on PSF/viscose, cotton with five percent Sales Tax and 5.5 percent Withholding Tax.
Allow import of generators/power houses/boilers for industry at zero customs duty for encouraging in-house generation and consumption of electricity. All sustainable energy solutions should stay at zero custom duty slab for Textile Industry to undertake investment initiatives. He has also demanded zero duty on import of spare parts and all capital goods import. In order to safeguard the domestic commerce, he urged to impose 15 percent regulatory duty on import of yarn and fabrics meant for domestic consumption. The government should curb smuggling of stock lots, un-stitched clothes to protect domestic commerce. S.M. Tanveer demanded reduction of turnover tax to 0.5 percent with adjustment facility and cut in corporate tax rate to 25 percent and rolling back of presumptive tax regime. It is an opportune time for the financial managers to announce investment and growth oriented budget, he concluded.
SOURCE: The Business Recorder
Sluggish buying trend in the region pulled down Asian propylene prices in the last week ended May 22. In Korea, average prices reduced by US$ 25/ton or 2.54 per cent and were assessed at US$ 960/ton in the last week, as compared to its previous week. In Japan too, average prices dropped by US$ 35/ton and were quoted at US$ 970/ton in the last week, down 3.48 per cent from its previous week. In SE Asia, average prices slipped by US$ 40/ton and were offered at US$ 965/ton in the last week, a decrease of 3.98 per cent as against its previous week. In India, average prices climbed down by US$ 40/ton or 3.98 per cent from its previous week and were spotted at US$ 965/ton in the last week. In China, average prices dipped by US$ 25/ton and were assessed at US$ 1005/ton in the last week, down 2.43 per cent as compared to its previous week.
SOURCE: Fibre2fashion
Chile is the last stop for Chinese Premier Li Keqiang's visit to Latin America. As the first Latin American nation that signed a free trade agreement with China, Chile is trying to consolidate the bilateral cooperation in agricultural exports, finance, and infrastructure construction. 2015 marks the 10th anniversary of China Chile free trade agreement. Jorge Heine, Chilean ambassador to China, hails the China Chile free trade agreement as a good example for bilateral FTA deals. "If anybody would like to see a prove of how these agreements work, all they need to do is to look at the China Chile experience...It is woking very well for both parties," Heine said. Chile has aboundant resources in minerals, forests and fishery stocks. A decade after the FTA, China has become the dominant importer of Chile's copper products, fruits and wine. But for Chile, they see more opportunities. "We are particularly excited about the possibility to exporting more food to China....There is potential in the Chinese market for that," Heine said.
On FTA expansion with China, Ambassador Heine says both countries are seeking to expand the FTA categories. "One of them is financial services, another is e-commerce. These are obviously cutting edge techs....If we can add these areas in the the free trade agreement, this can enhance our free trade more," Heine said. There's more to be done on investments -- Chinese investments in Chile is only a tiny portion of total investments in Latin America. Ambassador Heine says Chile welcomes China's investments in Chile and expects more investment to happen between China and Chile in infrastructure and clean energy.
SOURCE: CCTV.com
Pakistan and China have completed first phase of implementation of Free Trade Agreement (FTA) 2012-13 and during this period exports to China recorded growth of 320 percent. Similarly, during the period, the imports grew at 120 percent, sources at Commerce Division said here on Monday. The sources said in order to better utilize concessions and address concerns of the domestic industry, Ministry of Commerce has started negotiations on 2nd phase of FTA with Chinese side. They said during the negotiations, Chinese side has agreed to negotiate the tariff reduction modality for 2nd Phase on the principle of less than equal reciprocity in favour of Pakistan. The negotiations will continue during the next fiscal year, with the objective of allaying the concerns of domestic industry. The sources said Pakistan's bilateral trade relations with Afghanistan, China and Iran have remained very cordial. Afghanistan is one of Pakistan's major trading partners.
Pakistan has a Free Trade Agreement with China, and a Preferential Trade Agreement with Iran. With regard to steps taken by the government to further improve trade relations with Afghanistan, the sources said to address issue of bilateral trade and transit with Afghanistan, 5th Afghanistan-Pakistan Transit Trade Coordination Authority (APTTCA) meeting was held on January 1-2, 2015. Various measures were suggested by the Authority to facilitate Afghan transit trade through Pakistan. Furthermore, to enhance bilateral trade between Pakistan and Afghanistan, Pakistan proposed a Preferential Trade Agreement between the two countries. Draft PTA has been shared with the Afghan side.
Moreover, to further liberalize bilateral trade with Iran, Pakistan proposed FTA with Iran and a draft text of Pak-Iran FTA has already been shared with Iranian side. The Iranian side regretted that due to economic hardships as a result of International sanctions, FTA was not possible at that stage. However, the Iranian side has agreed to deepen the tariff concessions under PTA. The sources said 7th Meeting of Pak-Iran Joint Trade Committee, co-chaired by Commerce Ministers of two countries was held in April, 2015 in Tehran where an understanding on deepening of PTA was reached. Furthermore, it was agreed between the both countries that a five year strategic action plan will be formulated to enhance cooperation.
SOURCE: The Business Recorder
A new Asia Pacific Economic Cooperation (APEC) Policy Support Unit report confirms that regional free trade agreements (FTAs) in the Asia-Pacific do make a difference in boosting exports. These preliminary findings were submitted to the APEC Trade Ministers in Boracay (the Philippines) over the weekend. According to the report, the number of regional and bilateral FTAs in the Asia-Pacific region has multiplied since the 1990s, with APEC members among the most active economies in negotiating them. At present, APEC members have 144 enforced FTAs, about 53 per cent of the global number. Executive director of the APEC Secretariat Dr Allan Bollard said: “However, despite this growth, more than 50 per cent of trade in the region takes place without the benefit of any preferential trade agreement. “This begs the question of whether FTAs actually matter. To answer this question, the APEC Policy Support Unit study took a preliminary look at the effects of the FTAs on exports. “Initial analysis showed that the average exports five years after an FTA is enforced is significantly higher vis-à-vis the average exports five years before. “For the entire sample, average annual exports for the five years before FTAs was US$4.1 billion. After FTAs were in place, the following five years saw a jump in average annual exports to US$6 billion.” He said in addition, the quality of a FTA was also found to be important in terms of encouraging exports. For example, some agreements only cover goods but exclude services. Others are more comprehensive and include regulations affecting labor, environment, competition policies and other chapters. The study tested for quality through comparing FTAs enforced before 2005 and those after, the rationale being that later ones were more comprehensive and of higher quality. “These initial findings suggest that FTAs between economies do make a difference and have a significant impact on exports, despite the cost and time required to negotiate them,” said Gloria Pasadilla, senior analyst at the APEC Policy Support Unit.
SOURCE: The New Straits Times Online
The Canadian government is seeking to rapidly expand bilateral merchandise trade with the Philippines this year, with a planned free trade agreement (FTA) seen as a major growth driver, an official said yesterday. My goal is certainly to see our bilateral trade levels grow much more quickly than we’ve seen in the past,” Canadian Minister of International Trade Ed Fast said at a media briefing at the Shangri-La Hotel in Makati City. Official Canadian data show that bilateral trade grew by an annual 2.5% to C$1.8 billion in 2014. Canadian merchandise imports from the Philippines came in at around C$1.24 billion, while Canadian exports to the Philippines totaled C$569.5 million. “In order to very significantly increase our bilateral trade and investment flows, we believe that exploring a free trade agreement makes a lot of sense,” Mr. Fast said. “That is why both of our countries agreed to look at the possibility of negotiating a trade agreement because once you eliminate tariffs and many other non-tariff barriers behind the borders, almost in every case, you will see a significant increase in bilateral trade flows.”
After President Benigno S. C. Aquino III’s three-day state visit to Canada from May 7 to 9, Canadian Prime Minister Stephen Harper announced the launch of “exploratory discussions” for an FTA. Mr. Fast and Senator Tobias Enverga, Jr. are leading a trade mission to Manila and Cebu this week, accompanied by 51 firms in the agriculture and agri-food, defense and security, information and communications technology, infrastructure, and sustainable technology industries. “There’s a high degree of complementarity between the Philippine economy and Canada’s economy,” Mr. Fast said. “We believe there is tremendous opportunity here to put in place a framework agreement that will serve our respective interests and drive additional prosperities in our countries.” The Philippines is Canada’s sixth-largest trading partner in Southeast Asia. It is also considered a “priority market” in Canada’s Global Markets Action Plan, which serves as its blueprint for creating jobs and spurring economic growth through trade.
SOURCE: The Business World Online
Over the next five months, the Vietnamese labour ministry and experts from the International Labour Organisation (ILO) will inspect hundreds of garment and textile enterprises across 12 provinces and cities, a leading Vietnamese newspaper reported. The inspections will look into factories' working conditions and training courses for workers. Statistics published by the ministry of labour, invalids and social affairs showed that more than 80 per cent of textile and garment enterprises inspected in 2014 violated policies about working duration, rest periods and other labour safety regulations. Vu Kim Hue, project officer of ILO Country Office for Vietnam, said that industry enterprises push hard to meet contract deadlines, entailing large amounts of overtime for labourers who are also often not equipped with protective gear. The inspections are not aimed at punishing violators, she said, but instead on helping companies conform to labour safety regulations and improve working conditions for their workers.
The ministry and ILO representatives also hope to use the inspections as a chance to improve the knowledge and skills of labour inspectors. These labour inspectors are responsible for supporting and supervising garment companies to ensure proper labour conditions and workers' rights. About 360 garment and textile enterprises will be inspected for workers' hours, rest periods, salary, bodily protection, warning signs, fire prevention equipment and other tools to ensure safety for labourers, the report said.
SOURCE: Fibre2fashion
