Textile Raw Material Price 2015-07-13
|
Item |
Price |
Unit |
Fluctuation |
|
PSF |
1174.90 |
USD/Ton |
-0.28% |
|
VSF |
2113.18 |
USD/Ton |
0.39% |
|
ASF |
2480.34 |
USD/Ton |
0% |
|
Polyester POY |
1171.63 |
USD/Ton |
-0.28% |
|
Nylon FDY |
3002.51 |
USD/Ton |
-0.54% |
|
40D Spandex |
6200.84 |
USD/Ton |
0% |
|
Nylon DTY |
3263.60 |
USD/Ton |
0% |
|
Viscose Long Filament |
6013.18 |
USD/Ton |
0% |
|
Polyester DTY |
1427.83 |
USD/Ton |
0% |
|
Nylon POY |
2823.01 |
USD/Ton |
-0.86% |
|
Acrylic Top 3D |
2627.20 |
USD/Ton |
0% |
|
Polyester FDY |
1370.71 |
USD/Ton |
0% |
|
30S Spun Rayon Yarn |
2725.11 |
USD/Ton |
0% |
|
32S Polyester Yarn |
1892.89 |
USD/Ton |
0% |
|
45S T/C Yarn |
2953.56 |
USD/Ton |
0% |
|
45S Polyester Yarn |
2072.39 |
USD/Ton |
0% |
|
T/C Yarn 65/35 32S |
2480.34 |
USD/Ton |
-0.65% |
|
40S Rayon Yarn |
2888.29 |
USD/Ton |
0% |
|
T/R Yarn 65/35 32S |
2676.15 |
USD/Ton |
-0.61% |
|
10S Denim Fabric |
1.14 |
USD/Meter |
0% |
|
32S Twill Fabric |
0.96 |
USD/Meter |
0% |
|
40S Combed Poplin |
1.06 |
USD/Meter |
0% |
|
30S Rayon Fabric |
0.77 |
USD/Meter |
0% |
|
45S T/C Fabric |
0.78 |
USD/Meter |
0% |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.16318 USD dtd. 13/07/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Textile mills in the southern region for the last six months are hit due to the market slowing down for yarn and prices remaining low, compared to the production cost. Further, textile units in the State also had to pay higher value added tax (five percent) compared to central sales tax (two percent) according to the South India Spinners’ Association. Yarn made in other States and sold here was priced lower than the yarn made by the mills in the Tamil Nadu State. Association president C. Varadarajan said that the mills are unable to repay the bank loans, and would be forced to shut down if the situation did not improve. The Government should ensure that the textile mills had regular supply of the fibre. The mills were facing these problems because of lack of textile policy. The Union and State Governments should come out with a textile policy for the growth of the sector, he added. The number of mills that used polyester fibre was on the increase and there was shortage in the availability of the fibre and the supply of the fibre is not regular as only a few industries in the country manufactured polyester fibre and the mills were unable to import the fibre because of high import duty (23 per cent).
SOURCE: Yarns&Fibers
Shri Santosh Kumar Gangwar, the Hon'ble Minister of State for Textiles (I/C), inaugurated the 55th India International Garment Fair, 2015 in Pragati Maidan, New Delhi, today.Speaking on the occasion, the Minister said that given its employment and export intensity, the apparel industry plays a significant role in realizing the vision of 'Make in India'. He said that under the leadership of Hon'ble Prime Minister Shri Narendra Modi, the Government has laid a renewed emphasis on boosting manufacturing, growing exports and generating more employment. Shri Gangwar cited the successful example of the textile industry of Gujarat and said that the Ministry of Textiles is working hard to take Indian textile industry to a higher level on the global stage.
In this regard, the Minister mentioned about the landmark initiative announced by the Honourable Prime Minister Shri Narendra Modi in Nagaland, on 1st December, 2014, wherein an Apparel and Garment Making Centre shall be constructed in all North Eastern states. He added that foundation stone has already been laid for such centres in all states of the region, and that work has commenced.The Minister further added that people are interested in India and in working with India. He observed that whenever he comes to the IIGF, he finds very good participation of exporters, with large number of reputed overseas buyers. He assured that Ministry of Textiles would continue to provide all requisite support for organizing India International Garment Fair.
Shri Sanjay Kumar Panda, Secretary, Ministry of Textiles, stated that 55th India International Garment Fair is India's largest garment show in South Asia, covering apparel and fashion accessories. He said that under the leadership of the Hon'ble Prime Minister, the Ministry has been laying a strong emphasis on skill, scale and speed, in order to improve production, exports and employment. He said that the apparel and garment industry has an important role to play in this. He requested all foreign buyers to take out some time to visit Incredible India, citing the Ministry's efforts to link textiles with tourism.
Shri Virender Uppal, Chairman AEPC stated that the 55th IIGF has attracted 305 buyers from across the globe, of which 202 are from traditional markets and 103 are from non-traditional markets. 2,921 buyers have already registered for the fair. He said that this is an indication that buyers have started showing faith and view India to be a safe and compliant destination for sourcing garments.The Chairman said that the objective of IIGF is to showcase latest and emerging trends in garments and fashion accessories. The Chairman thanked the Ministry of Textiles for its supportive policies. He said that India's apparel exports in dollar terms for April-March of FY 2014-15 had increased by 12.3 per cent over the same period of previous FY and reached USD 16,846 million. He thanked the Ministry for accepting AEPC's recommendations regarding improving ease of doing business. He added that RMG exports were to the tune of USD 1568.5 million in May 2015, an increase of 5.1 per cent against that of May 2014 which was 1492.4 million USD. India's RMG exports for the period of April-May 2015-'16 (cumulative) was to the tune of USD 3012.7 million, 7% higher than that of the same period previous year.
Shri Sudhir Sekhri, Chairman EP, stated that the 55th IIGF is being organized by AEPC in association with AEMA, GEA and CMAI as partner associations and GEAR as co-organisers. Buyers from across the globe including EU, Asia, USA, Brazil, UK, USA, Turkey, Australia, Russia, Japan, UAE, Hong Kong and Spain are participating in the fair. The big buyers include One Jeanswear Group from USA, Grupo Hotelshops, Mexico, PJSC Melon Fashion Group from Russia, The Original Factory Shop from UK, Cortefiel from Spain, PNL from Thailand, Alona Miron Ltd from Israel, Options from Colombia, Aftershock from London, Lec Lee from Colombia, Group-Disco from Uruguay, Jeans West from Australia, Topitop from Peru, etc have confirmed their participation for the 55th IIGF.
Shri Puneet Kumar, Secretary General, AEPC said that IIGF 2015 has witnessed the largest participation of buyers so far. He said that despite some relative advantages enjoyed by India's neighbouring countries in the export market, the apparel and garment sector of India is making steady in-roads into foreign markets due to its inherent strengths of design, creativity and innovation. He expressed the hope that the FTA with European Union gets concluded at an early date, thereby giving a boost to the sector. The event has exhibitors from across the length and breadth of India, including Rajasthan, Tamil Nadu, Maharashtra, West Bengal, Uttar Pradesh, Gujarat, Madhya Pradesh, Karnataka, Orissa, Haryana, Delhi and Punjab. There are more than 400 exhibitors who would be putting up their best collections and latest fashion products for display at the 55th IIGF. Executive Committee Members of AEPC, Presidents of various Associations along with senior officials of Ministries, dignitaries from embassies and esteemed buyers hailing from across the world were also present at the inaugural function. 55th IIGF is a three day fair which is being held from 13th to 15th July 2015, at Pragati Maidan, New Delhi.
SOURCE: The Business Standard
India’s garment export growth slowed down to 5.1% year-on-year in May from 9.2% in the previous month, thanks to a withdrawal of certain incentives by the government and a fragile recovery in key markets such as Europe, the latest AEPC data showed. Apparel Exports Promotion Council (AEPC) chairman Virender Uppal said on Monday the country’s apparel exports hit $1.57 billion in May, against $1.49 billion a year earlier. In the first two months of this fiscal, the exports touched $3.01billion, up 7% from a year earlier but lower than a 12.2% growth in the entire 2014-15 fiscal. However, the growth rate is still better than 17.2% drop in the country’s overall exports during the April-May period from a year before. “As some of the export incentives for exports have been withdrawn in the foreign trade policy (2015-2019), it has had a dampening effect on the overall trade. Apparel exporter’s work on very thin margin and, therefore, the incentives are of a big help. In the FTP 2015-19 announcements, garment export sector got 2% reward only on 239 HS lines out of 398 lines earlier,” Uppal said. Among other things, AEPC had recommended a 5% duty credit scrip for major markets, including the US and the EU, and a flat rate of 2% for other nations. “No Merchandise Exports from India Scheme (MEIS) has been announced to Latin America, West Asia, CIS, Africa and Oceania countries. The non-traditional markets, which constitute around 35% share in India’s garment exports, are poised to receive a setback due to withdrawal of the benefits of the Chapter 3 benefits,” Uppal said.
The EU market constitutes 41% of the India’s RMG exports. Conditions in major markets like EU, continues to be far from satisfactory. India is also facing a duty disadvantage of 9.6%, compared with competing countries like Bangladesh and Pakistan which are having zero duty access to that market. Similarly, the US constitutes 21.7% of India’s RMG exports and the market condition in that country is yet to rebound sharply. “The prospects of considerable improvement in the market are rather limited due to competition from countries like Vietnam, Mexico which have zero duty access under preferential treaties with the US,” Uppal said. The AEPC chairman has demanded a 3% interest subvention retrospectively, from the beginning of the last fiscal, to partially mitigate high cost of lending, which is hovering around 11-12%, compared with 4-6% in competing countries. He has also sought support from the FTP — a 5% duty credit scrip to major markets. AEPC has said the government should ensure swift clearances of import and export by customs. The government should also finalise on an urgent basis the India-EU FTA and the CEPA with Canada so as to “mitigate the duty disadvantage suffered by India vis-a-vis our competitors like Bangladesh, Cambodia, Vietnam, Pakistan, etc in the major markets,” Uppal said.
SOURCE: The Financial Express
India's exports to China declined by over 24 per cent to USD 6.89 billion in the first half of this year, while the Communist trading giant's exports surged by 10.8 per cent to USD 27.29 billion, pushing the bilateral trade to over USD 34 billion. China's foreign trade volume continued to drop in the first half, slipping further from a 6-per cent decline in the first quarter, but the lacklusture performance was redeemed by the country's exports to India and other Asian nations. India-China bilateral trade registered a 1.1-per cent increase and touched USD 34.19 billion as India continued to expand the export base for Chinese goods, according to data released by General Administration of Customs (GAC) today.
Despite China's promises to address India's concerns over the spiralling trade deficit, Indian exports to the world's second-largest economy continued to decline. Last year, the trade deficit touched USD 47 billion, out of the USD 70.59 billion trade. It crossed USD 20 billion half way this year as Chinese exports went up to USD 27.29 billion. India looks for a sharp increase in Chinese investments to compensate for the burgeoning trade deficit, while hoping for a pro-active opening for its IT and pharmaceuticals industry. Besides exports to India, China's exports to Southeast Asia and Africa grew by 9.5 per cent and 12.9 per cent respectively in H1. The trade with countries covered by China's Belt and Road Initiative were more robust, as exports to Pakistan, Israel, Bangladesh and Saudi Arabia saw an average growth of 17 per cent, state-run Xinhua news agency reported.
China's total foreign trade dropped 6.9 per cent year-on- year to 11.53 trillion yuan (USD 1.89 trillion) in the first six months of 2015, slipping further from a 6-per cent dip in the first quarter adding to China's worries over the slowdown. Exports from China, one of the world's top exporters, rose slightly by 0.9 per cent from a year ago, but imports slumped 15.5 per cent, weighed down by a gloomy global climate and feeble domestic demand. The trade surplus expanded 1.5 times to 1.61 trillion yuan, the data showed.
SOURCE: The Economic Times
India today said it is committed to work with other countries for early conclusion of mutually acceptable RCEP agreement - a mega trade deal of 16 countries. Commerce and Industry Minister Nirmala Sitharaman is in Kuala Lumpur to attend the Regional Comprehensive Economic Partnership (RCEP) inter-sessional ministerial meetings. "She reiterated the importance attached by India to RCEP negotiations and conveyed India's continued commitment to work with other countries to conclude a mutually acceptable RCEP agreement," the Commerce Ministry said in a statement. The 16-member bloc comprises 10 ASEAN members and their six free trade agreement (FTA) partners namely India, China, Japan, Korea, Australia and New Zealand. The 16 economies account for over a quarter of the world economy. RCEP negotiations were launched in Phnom Penh, Cambodia, in November, 2012. Sitharaman also met her Malaysian counterpart Mustapa Mohamed and discussed issues relating to the ongoing RCEP negotiations as well as ways to enhance bilateral trade and investment. She mentioned that Malaysia is key to India's economic engagement with South East Asia and outlined the series of new initiatives taken by India to attract FDI as well as improve ease of doing business. "She invited the Malaysian business community to participate in India's growth story," it said. Malaysian companies have invested around USD 6 billion in India over the years and additionally taken up several billions of US dollars worth of projects in India, especially in infrastructure and construction sectors, it added. The bilateral trade between India and Malaysia stood at USD 16.95 billion in 2014-15.
SOURCE: The Economic Times
The proposed free trade agreement between India and Canada, which aims to reduce or eliminate duties on a large number of products traded between the two nations, is likely to be concluded by March next year. "CEPA with Canada is at a very advanced stage. We expect that by December or latest by March it should take shape," a senior official told PTI. The negotiations for the agreement, which is officially dubbed as Comprehensive Economic Partnership Agreement (CEPA), were launched by both the countries in November, 2010 to further boost bilateral trade and investment. The proposed pact seeks to open services sector and facilitating investment proposals.
The ninth round of negotiations towards a Canada-India CEPA were held here in March this year. The negotiations focused on goods and services. Besides, apparel traders have sought restoration of concessions for exports to Gulf countries, Africa, Latin America and CIS nations, arguing that India's outbound shipments to non-traditional markets will be hit. "Under the new foreign trade policy, FMS and FPS scheme have been merged into Merchandise Exports from India Scheme (MEIS) and these 4 blocks of countries excluded in it.
The apparel exports to non-traditional markets will definitely fall if these incentives are not restored. We have taken up the issue with the government," Apparel Export Promotion Council (AEPC) Chairman Virender Uppal said. "Ministry of Textiles has very strongly taken up the apparel industry's request for restoration of incentives under Chapter 3 of the Foreign Trade Policy with the Ministry of Commerce," Textiles Secretary S K Panda told PTI.
According to Uppal, traditional markets, including the EU and the US, account for 64 per cent share of India's apparel exports, whereas shipments to non-traditional markets constituted 36 per cent during 2013-14. Besides, Panda said that the ministry is likely to approach the Union Cabinet for approval of the new national Textiles Policy in August. The new textiles policy, which is being finalised, aims to achieve USD 300 billion (textiles) exports by 2024-25 and envisages creation of additional 35 million jobs. Meanwhile, Union Textiles Minister Santosh Gangwar today inaugurated the India International Garment Fair (IITF) at Pragati Maidan here. The Minister highlighted the need to strengthen the apparel export industry. "Given its employment and export intensity, apparel industry plays a significant role in realising the vision of Make in India," he said. This year's edition of the IIGF has attracted 305 buyers, of which 202 are from the traditional markets and 103 are from the non-traditional markets.
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$ 57.19 per barrel (bbl) on 13.07.2015. This was lower than the price of US$ 57.98 per bbl on previous publishing day of 10.07.2015.
In rupee terms, the price of Indian Basket decreased to Rs 3629.85 per bbl on 13.07.2015 as compared to Rs 3674.77 per bbl on 10.07.2015. Rupee closed weaker at Rs 63.47 per US$ on 13.07.2015 as against Rs 63.38 per US$ on 10.07.2015. The table below gives details in this regard:
|
Particulars |
Unit |
Price on July 13, 2015 (Previous trading day i.e. 10.07.2015) |
Pricing Fortnight for 01.07.2015 (June 12 to June 26, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
57.19 (57.98) |
61.66 |
|
(Rs/bbl |
3629.85 (3674.77) |
3935.76 |
|
|
Exchange Rate |
(Rs/$) |
63.47 (63.38) |
63.83 |
SOURCE: PIB
The global clothing industry may soon have a new hub.For a long time now, some of the world’s top brands have looked to outsource their production to Asian countries such as Bangladesh, Sri Lanka and India. But with rising minimum wage demand and economies of scale in these markets are forcing these companies look elsewhere to source their products. And Africa is emerging as the next best alternative, say media reports.According to the International Labor Organization, the minimum wage in Bangladesh is at least $67 per month. This is three times the amount Ethiopia’s garment sector, which actually has no minimum wage for its workers.Most countries in Africa that produce their own cotton are benefiting from the recently renewed free-trade agreement with the US, under the Africa Growth and Opportunity Act (AGOA). And from a business point of view, the continent has suddenly become a magnet for the world’s major clothing companies.Cotton cultivation by most of the African countries shortens the production period, which is why US retail chains such as Walmart are increasingly stocking trousers made in Ghana.
AGOA’s positive impact on sub-Saharan Africa’s clothing industry has led textile plants being opened across the region, according to a media report.A World Bank official says that light manufacturing traditionally moves around in the global economy and as far as the textile industry is concerned, there is a distinct possibility of that kind of a move from Asia mainly because of rising labour costs.For now, Ethiopia seems to be a favourite sourcing destination for clothing companies. A country with a rich fashion sense and a century old textile industry, Ethiopia is now global fashion radar thanks to its homegrown supermodel Liya Kebede.In an effort to accelerate the move to Africa, two of the biggest clothing companies and rivals - VF and PVH – teamed up and invited their best 20 suppliers from Asian countries like China, India and Sri Lanka on a tour across Africa to show them the need to invest in apparel factories in the continent.Ethiopia, which recently commissioned a $250 million industrial park at Bole Lemmi exclusively for foreign investors in the garment sector, stood out as one of the best destination for these suppliers.
SOURCE: Fibre2fashion
Pakistan, during last five years, has added only 1.02 million spindles while its neighbouring countries like China added further 35.29million spindles, India 14.2 million and Bangladesh 1.98 million spindles in their textile sector. Comparing the results of first five-year textile policy 2009-14 with India’s 11th five-year plan 2007-12, the value-added textile industry representatives said that implementation of country’s first ever textile policy 2009-14 with outlay of Rs.188 billion was implemented just 15% which results in 0% growth in textile exports, only 1 million spindle addition, no new jobs created and world market share dropped from 2.2% to 1.8%. On the other hand, India’s 11th five year plan 2007-12 with outlay of Rs.140 billion was implemented 115%, bringing 76% increase in exports, 14 million spindle addition, creation of 16million direct jobs and increase in world market share from 3.5% to 5%.
As per the regional comparison of cost of doing business, it is evident that Pakistan’s wages, interest rates, tariffs of electricity, gas and water is much higher creating hurdles for smooth business. PRGMEA central chairman Ijaz Khokhar said that the value-added textile export sector was vital with 45 per cent of total exports of the country and contributing the major portion 84 percent of the textile exports consisting of apparels, knitted and woven garments, bed-wear, made-ups, processed fabric, knitted and woven fabric, towel etc.Moreover, the value-added textile export sector generates the largest employment of almost 34 percent of nation’s total employment, he added. He suggested the government to take measures for bringing down cost of doing business to a level of Pakistan’s regional competitors in order to survive in tough competition in global market.
Ijaz Khokhar said that Pakistan’s textile exports were once very close to Indian textile exports a few years back. But with 5% industrial growth rate in our neighboring country, its annual textile exports have crossed USD33 billion mark mainly due to conducive policies. He said that without introducing the culture of value-addition, Pakistan would never be able to compete in the international market. He said that Pakistan is far behind the other countries when it comes to earning the value fetched per million bales.PRGMEA VC Naseer Malik stated that Pakistan earns $1.17 billion from one million bales while Bangladesh earns $6 billion, China $7.09 and South Korea earns $10.68 billion from the same quantity of bales. He said that Pakistan, the fourth largest cotton producer in the world, is termed as a raw material supplier. Country produces 13.4 million bales per year and if we even convert 50 percent of 13.4 million bales we can fetch price like Bangladesh.He said due to non-payment of sale tax refund and custom rebate the exporters faced financial losses. Naseer Malik stressed the need for creating a stable environment with more market access to deal with competitiveness issue as country’s textile industry has lost its viability against regional competitors. The value-added textile industry is the only hope for revival of country’s economy which is currently jolted by high cost of doing business.
SOURCE: The Nation
The Ministry of Textile Industry has reportedly abandoned the proposed legislation "textile industry development, promotion and standard Act" which was aimed at overriding multiple laws and ordinances under its administrative control, it is learnt. Official sources told Business Recorder that work on important issues regarding textile policy, proposed textile bill and Export Development Fund (EDF) has almost come to a standstill. Senior officials said the absence of a full-time minister and a lack of direction whether or not it should be merged with commerce ministry are some of the major reasons behind the poor state of affairs in the ministry. According to sources, work on the final draft of the proposed Act, pending for last six years, was completed early this year in consultation with other stakeholders of the industry. The proposed legislation was ready to be submitted to the Law Division for vetting. However, about seven months have passed but it is yet to be sent to the Law division.
Federal Textiles Board was restructured and notified to facilitate the textiles sector stakeholders. The platform was supposed to be used to monitor the implementation of Textiles Policy (2014-19), including rationalisation of cess/surcharges applicable on textiles value chain industry and its exports and utilisation. The Research, Development and Advisory (RDA) Cell was supposed to act as the secretariat of the board and existing RDA Cell officers would have been responsible for the overall implementation and monitoring of Textile Policy. However, the Board is yet to meet even after the passage of a very long time, sources added. The proposed law was aimed at empowering the ministry to form regulations and standards for achieving sustainable growth, increased productivity and value-addition throughout the textile chain. It will be the first-ever law pertaining to the textile industry, which will empower textile division to take final decision on every issue. Presently, the ministry has no power and cannot even issue an SRO notification.
Sources said the proposed textile law would require all the functioning textile units to register with the ministry as only registered textile units would get incentives announced in the textile policy. Currently, textile ministry lacks complete information about textile units and their production data to make appropriate plans regarding the implementation of textile policy. The new legislation was aimed at implementing the textile policy, strengthening the structure of textile industries and maintaining complete data on production of these units. Presently, there is no textile export and import law in the country. In the proposed textile Act rules would be laid down and growth and activity of the industry would be monitored, sources added. The proposed law would empower the textile ministry to monitor the implementation of the textile policy and to ensure accurate statistics of production capacity, exports and total number of textile units in the country.
SOURCE: The Business Recorder
The export of textile and garments from Philippines to America is expected to slow down after the US government excluded textile, garment and apparel from zero tariff privilege under its newly extended Generalised System of Preference (GSP) although it gained preferences for travel goods, according to media reports in Philippines.President Barack Obama signed last week the Trade Preferences Extension Act of 2015 (H.R. 1295), which will reauthorize the U.S. Generalized System of Preferences (GSP) Program until 31 December 2017. The law will restore the GSP program effective 29 July 2015.The program, however, excludes textile, apparel, and footwear, the Philippines second largest sectoral exports to the US market. At the same time, the US-GSP has expanded its coverage to include some 20 to 30 specific types of travel goods and will provide for retroactive refund of all duties paid by US importers from the time the Program lapsed on 31 July 2013.
Philippines’ overall exports of textiles and apparel crossed $2 billion mark last year, according to the data from the industry and trade statistics department, under the Philippine Statistics Authority. Majority of the country’s textile and apparel exports go to the US market, the reports said.Philippines earned $2 billion through exports of yarn, fabric and apparel in 2014. Of this, yarn and fabric exports shot up by 34.5 per cent year-on-year to $252.679 million, while clothing exports increased at 16.6 per cent to $1.8 billion, the data showed.
In contrast, exports of travel goods and handbags grew by 135.5 percent. For the period January to March 2014, export of garments grew by 4 per cent, and travel goods and handbags by 289.2 per cent compared to the same period last year.In a statement, Philippine Ambassador to the US Jose L. Cuisia, Jr. cited the renewal of the GSP Programme saying it will give more Filipino exporters access to the US market, which in turn, would create jobs at home, increase competitiveness of Philippine companies and improve the country’s overall trade position.The GSP program is a tool that helps an eligible country to expand its exports to the US. It directly benefits micro, small and medium enterprises (MSMEs) and is a major employment generator for many export–oriented agribusinesses and community based industries in the various regions of the Philippines.The reinstatement of the program means that the Philippines could recoup its lost export share directly caused by program’s expiry in 2013. More importantly, it is also an essential incentive for investors, both foreign and local, as it boosts the competitiveness of products produced in the Philippines in the US market, the reports said.
SOURCE: Fibre2fashion
The exports of textiles from Philippines showed a negative trend and declined marginally by one per cent year-on-year during the first five months of 2015, compared to the 34.5 per cent growth registered in 2014, the latest government data showed. From January to May 2015, Philippines exported textiles, including yarn and fabric, worth $96.495 million, as against exports of $97.482 million in the corresponding period of last year, according to the data from the industry and trade statistics department, under the Philippine Statistics Authority. Meanwhile, garment exports earned $794.632 million for Philippines during the five-month period, showing a growth of 6.8 per cent over $744.351 million worth of apparel exported in the same period in 2014. However, the growth rate was lower than the 16.6 per cent registered last year.
From January to April 2015, for which data is available, Philippines’ import of yarn, fabric and made-up articles were valued at $226.862 million, down 7.6 per cent compared to imports of $245.616 million in the corresponding period of the previous year. Tariff on Philippine garment exports to the European Union has decreased to zero beginning this year, as the country was granted Generalised System of Preferences Plus (GSP+) status. However, textiles and garments are not included in the revised GSP granted by the US to Philippines. The garment industry was once among the country’s largest employers in the Philippines, but it faded in the late 1990s after quotas on textile and clothing trade worldwide were eliminated
SOURCE: Fibre2fashion
Tanzi Zimbabwe (Private) Limited says it could lose hundreds of thousands of dollars from imports of cheap, but poor quality products from South Africa, a company executive has said, as the textile sector reels from inferior products. Speaking to NewsDay, Tanzi chief executive officer Derek Beauchamp said that his company had an annual turnover of $8 million and has capacity to push that by 50% in the absence of cheap imports. “With the current arrangement we could lose hundreds of thousands of dollars annually. We support the cotton beneficiation value chain and are seeking to get some tariff protection, import licences put on this (imports),” Beauchamp said. “We have the capacity to not only service the Zimbabwean market, but the entire region. We can make 1,2 million kg (twine) a year, but are currently at 500 000.”
Tanzi Zimbabwe specialises in netting, twine, candle wick, string, yarn and ropes. Overall, imports for the first quarter were reported to be at $1, 6 billion, a figure set to increase by year end to almost $3 billion. “We currently contribute around $1 million to the fiscus in terms of taxes and utilities, but at full capacity this would be around $1,75 million per annum,” Beauchamp said. Established in 2009, Tanzi Zimbabwe is registered and domiciled in Zimbabwe, with its head office based in Southerton, Harare, and branches in Msasa and Bulawayo. Tanzi was established as a marketing body to support the sales and marketing of two companies — Nets and Ropes (Pvt) Limited and Twine and Cordage — with which it has formed strategic alliances. “We need to maintain our quality of product therefore competing against inferior cheaper product is difficult since we have large overheads to sustain in the form of 160 factory staff,” Beauchamp said. “Import licences and increased tariffs need to be introduced in order to secure these jobs. In the event it never happens the company will have no option, but start downsizing.” He said that his company mainly supplies the tobacco market which has increased in Zimbabwe giving rise to more interest from local traders and South African traders to try and tap into the market with cheaper or inferior products. “Since we have the capacity as stated above there is no reason why we cannot service our markets in Zimbabwe and regionally,” Beauchamp said. Last week, players in the textile sector told the Parliamentary Portfolio Committee on on Industry and Commerce that the sector was under threat from the influx of cheap products from China. The findings of the committee would be tabled before Parliament.
SOURCE: The Newsday
No fewer than 100 textile factories in the country closed shop between year 2000 and now, president of the National Union of Textile Garment and Tailoring Workers of Nigeria (NUTGTWN), Comrade Dele Hunsu, has said.Hunsu, in an interview with our correspondent at the weekend, also said the only surviving garment factory in Nigeria also closed shop recently with about 450 jobs lost. The union's president attributed the frequent closure of the country's textile and garment factories to unbridled importation, smuggling and lack of water-tight government's policies to protect infant industries in Nigeria.Hunsu expressed displeasure over the dwindling fate of the sector that used to provide one of the largest job opportunities for Nigerians as well as served as economic support for the country during post-independence era.He said some of his members accessed loans which they put into their businesses, while the frequent smuggling of textile products into Nigeria was to some extent checked by government officials at the border posts when the ban was in force.He said the bail-out fund would have gone a long way in turning around the fortunes of the sector if government had not lifted the ban on the importation of textile products into the country in a recent announcement.According to him, the removal of the ban on textile products by government was very unfortunate and ill-advised, adding that the nation has nothing to gain by allowing its borders to be flooded with all manner of imported products.
SOURCE: All Africa
