|
Item |
Price |
Unit |
Fluctuation |
|
PSF |
1174.90 |
USD/Ton |
0% |
|
VSF |
2118.08 |
USD/Ton |
0.23% |
|
ASF |
2480.34 |
USD/Ton |
0% |
|
Polyester POY |
1166.74 |
USD/Ton |
-0.42% |
|
Nylon FDY |
3002.51 |
USD/Ton |
0% |
|
40D Spandex |
6200.84 |
USD/Ton |
0% |
|
Nylon DTY |
3263.60 |
USD/Ton |
0% |
|
Viscose Long Filament |
6029.50 |
USD/Ton |
0.27% |
|
Polyester DTY |
1427.83 |
USD/Ton |
0% |
|
Nylon POY |
2790.38 |
USD/Ton |
-1.16% |
|
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% |
|
40S Rayon Yarn |
2888.29 |
USD/Ton |
0% |
|
T/R Yarn 65/35 32S |
2676.15 |
USD/Ton |
0% |
|
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.14/07/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
With sharp decline in demand for synthetic yarn due to unknown reasons for the last few months, spinning mills in Tamil Nadu today decided to stop production twice a week with immediate effect, to arrest the decline. A decision to this effect was taken at a meeting of managing directors of nearly 90 mills producing such yarns, under Indian Texpreneurs Federation (ITF), for taking corrective measures to control the crisis. Accordingly, the mills decided to stop production on Saturdays and Sundays for a few weeks, so as not to pile up the stocks in various mills could be disposed of, Naresh Devaraj, Coordinator-ITF (Synthetic Group) told reporters here tonight. Tamil Nadu, which produces 40,000 tonnes of high count synthetic yarns per month, such as polyester cotton yarn-- 40 per cent of the National production-- supplies to major weaving centres of Ichalakaranji, Malegoan, Bhiwanvi and Bhilwara, he said. Stating that these mills were incurring 10 to 15 per cent loss due to the decline in the demand, despite normal production, he claimed that the reasons for such sharp decline were not immediately known. A committee has been formed to analyse the sudden decline and also to review the impact of cut in production, D Prabhu, Secretary, Texpreneurs Forum said. The meeting also decided to create a scientific data base and marketing intelligence to provide the trend to the mills, he said. It was also decided to convene a meeting of raw material suppliers to the mills, to furnish a picture of 'this unprecedented situation' to them, Prabhu said.
SOURCE: The Economic Times
Export from the city-based Special Economic Zone (SEZ) increased by 26.5 per cent to Rs 1,174 crore in the first quarter ended June 30. In the corresponding period last year, export from the multi-product SEZ stood at Rs 928 crore, said SEZ project Development Commissioner Ishwar Singh. Turnover from the tax-free trade zone stood at Rs 1,665 crore in the April-June quarter, an increase of 35 per cent over Rs 1,233 crore reported in the same period last fiscal, he said. The SEZ, spread over 1,113 hectors currently houses 47 units related to engineering, pharma, information and technology, textile and food processing among others. Six more industrial units are under construction. State-run Madhya Pradesh Audyogik Kendra Vikas Nigam (Indore) Ltd is developing the zone.
SOURCE: The Economic Times
Concerned over declining exports, the government will soon set up a Trade Facilitation Council comprising members of Centre and states to promote India's overseas shipments. The council will be chaired by Commerce and Industry Minister Nirmala Sitharaman and secretaries of key ministries and state ministers will be the members. The main objective of the council will be facilitating trade from states in a bid to boost the country's exports. "The real work happens in states. We are setting up this council. We will also ask and encourage them to formulate their own State Trade Policy," an official said. To discuss the issue, Commerce Secretary Rita Teaotia will hold meetings with officials from the states tomorrow. The other issues which will come up in the meeting include problems related with infrastructure and governance; local tax issues and its refund; and states' regulatory environment. "We will also look at several other issues. What is that holding states back (on trade front)? There are infrastructure and governance issues in states. Every state needs to look at that. We are also looking at local taxation issues particularly where refund of taxes are involved," the official said. The commerce ministry is also working on other measures including dis-segregation of exports data state-wise. "We will give access to DGCI&S window for their (states) own data to see where they are going," the official added.
The Directorate General of Commercial Intelligence and Statistics (DGCI&S), under the Ministry of Commerce, is an official organisation for collection, compilation and dissemination of India's trade statistics and commercial information. The Commerce Ministry will encourage every states for a State Trade Policy in order to streamline procedures and increase exports. "The idea of tomorrow's meeting is to see where the shoe is pinching. The ministry will ask what they need to do," the official added. Seeking to involve states for promoting exports, the Commerce Ministry had asked them to appoint commissioners and prepare export strategy. As many as 21 states have appointed export commissioners while 14 states including Madhya Pradesh and Gujarat have framed strategies for outward shipments. The move is aimed at achieving the $900 billion exports target by 2019-20. The ministry is also working with the states to prepare a list of infrastructure projects which would ensure full potential of growth in exports.
Contracting for the sixth month in a row, India's exports dipped by 20.19 per cent in May to $22.34 billion. During the meeting with state officials tomorrow, the Commerce Ministry is also expected to discuss issues related to Nokia with officials from Tamil Nadu. Further the official said that the ministry is working on steps to enhance spices exports from India. "We have huge basket of spices. We are coordinating with 11 states to boost the exports," the official added. The 11 states include Andhra Pradesh (for chili and turmeric), Tamil Nadu (for chili and turmeric), Karnataka (for pepper, ginger and turmeric), Gujarat (for garlic and jeera), Rajasthan (for coriander and jeera), Uttar Pradesh (for mint and garlic), Assam (for ginger and jeera) and Jammu and Kashmir for saffron. A discussion is also underway in the ministry to boost defence exports from the country. "You have to look at defence sensitivities. Both the commerce and defence ministries are looking at it," the official said. A study group is also working on ways to increase trade with Iran.
SOURCE: The Economic Times
With Iran reaching an agreement on its nuclear programme, India is expected to be one of the major gainers. The deal comes a day after Greece reached an agreement with the European Union (EU) on a bailout. Oil prices are expected to come down further from its already low level helping the Indian government to cut down subsidy. Besides lower oil prices, India would also gain from easier access to Iranian crude. According to senior government officials, the ministry of commerce and industry has already started working on a strategy to increase its oil imports from Iran. Although India had referred to the sanctions as "unilateral action", it did decrease its oil imports substantially over a period of time. Iran was until 2006 India's second-largest supplier of crude oil. But it dropped to number seven by the end of 2013-14 even though India continued to be Iran's second-largest buyer, next only to China. Forced by sanctions, India has reduced its oil imports from Iran but it has continued to maintain good relations with the West Asian nation, which had been reeling under the US and EU sanctions for over three years now. Since the EU and the US sanctions disallowed transactions with Iranian entities, India and Iran had put in place payments mechanism through Turkish Halk Bank and its own UCO Bank (2012). Iran was making rupee payment to India for its purchases entirely through the UCO Bank, which was set off against what India owes to Iran primarily for crude oil. But now sanctions against Iranian banks would be lifted.
Prime Minister Narendra Modi is also expected to visit Tehran soon. Modi met with Iranian President Hassan Rouhani last week in Ufa, Russia. Both the governments will soon sign into an agreement the memorandum of understanding (MoU) on developing the Chabahar Port. The anticipated crude fall in prices saw the stock of oil marketing companies (OMCs) rallying on the BSE. Hindustan Petroleum Corporation scrip closed 3.29 per cent higher, BPCL 2.02 per cent and Indian Oil Corporation 3.36 per cent. There were hopes that lower crude oil prices would lead to lower under-recoveries for OMCs.
According to Amit Bhandari, fellow, energy and environment studies, Gateway House, "Now that the sanctions are lifted, it will allow Iran to freely sell petroleum. This will further push down the global prices of petroleum, which have already dropped since June 2014. During the period from 2011 to 2014, Iran has reduced its oil production by 700,000 barrels a day. But now they are expected to ramp it up." The commerce department has also instituted a study group and is also working on ways to increase trade with Iran. It is expected to present the report on the matter soon, senior officials told Business Standard. "Iran is central in getting access to Central Asia. PM Modi is viewing Central Asia as one of his priorities," said an official, adding the main points that were discussed during the bilateral meeting between Modi and Rouhani centered on energy and trade. India is also planning to increase its export of basmati rice to the region. Of late, the commerce department has sent a couple of delegations to Iran to explore ways to increase rice exports to Iran. "India must use this possibly longer window of lower energy prices to try to secure supplies and acquire oversees assets like oil and gas fields. This will help India achieve its long-term goal of buying oil at a stable price range," said Bhandari.
SOURCE: The Business Standard
Perhaps for the first time, the dollar/rupee non-deliverable forward (NDF) market, the most responsive to events, has been largely unmoved by the crisis surrounding Greece. In fact, the NDF rate has been more bullish about the rupee even as Greece hurtled towards a messy finish, dragging several emerging market currencies down. The one-month dollar/rupee NDF rate was trading around 63.71/$ on Tuesday. A month ago, the rate was at 64.49/$, which means foreign investors expected the rupee to depreciate by around 1% in a month, but now believe the currency would be stable. The NDF rate behaviour indicates that foreign investors are growing more sanguine about the rupee than any other emerging market currency. The fact that the Reserve Bank of India has build an impressive cushion of $355 billion worth of forex reserves has given this confidence to foreign investors. “The NDF bets are now bullish on the rupee right now. Everyone had been bearish in May. Now that the Greece crisis has been sorted out to an extent, things are looking positive,” said Ananth Narayan G, regional head of financial markets for South Asia at Standard Chartered Bank. The rupee, in the onshore market, has also been reflecting this growing optimism about the currency. Despite the global bond selloff that made foreign investors pull out $1.3 billion from Indian bond market in May, the rupee has remained stable.
While the NDF rates did not predict a rise of the rupee, the fall forecasted by the NDF rates was a modest 1% amid the global bond rout in May. During the month, the Indian rupee had depreciated by a a mild 0.25%. “The RBI is able to contain the rupee in a narrow range. So, the rupee is not going to depreciate very fast,” said Jamal Mecklai, CEO of Mecklai Financial Services. Currency traders said that the biggest driver of the confidence is the forex reserves along with improvement in the country’s balance of payments. Further, repeated assurances by RBI governor Raghuram Rajan have also allayed fears. “The Greece crisis will result in an initial burst of volatility. Foreign exchange buffers are fairly reasonable,” Rajan had said earlier this month. In the past, the dollar/rupee NDF rates had predicted the most bearish levels for the rupee and, many a times, have also been one of the factors in pulling the rupee down in the onshore market. A case in point is the period of May-August 2013 when NDF rates predicted the rupee’s fall to 70/$ in three months. The onshore rupee hit an all-time low of 68.85/$ in August.
SOURCE: The Financial Express
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$ 56.33 per barrel (bbl) on 14.07.2015. This was lower than the price of US$ 57.19 per bbl on previous publishing day of 13.07.2015.
In rupee terms, the price of Indian Basket decreased to Rs 3576.96 per bbl on 14.07.2015 as compared to Rs 3629.85 per bbl on 13.07.2015. Rupee closed weaker at Rs 63.50 per US$ on 14.07.2015 as against Rs 63.47 per US$ on 13.07.2015. The table below gives details in this regard:
|
Particulars |
Unit |
Price on July 14, 2015 (Previous trading day i.e. 13.07.2015) |
Pricing Fortnight for 01.07.2015 (June 12 to June 26, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
56.33 (57.19) |
61.66 |
|
(Rs/bbl |
3576.96 (3629.85) |
3935.76 |
|
|
Exchange Rate |
(Rs/$) |
63.50 (63.47) |
63.83 |
SOURCE: PIB
Pakistani textile and clothing exports to Europe surge following the granting of preferential market access. Pakistani textile and clothing exports to Europe have surged since the country was granted preferential access to EU markets, according to the latest issue of Textile Outlook International from the global business information company Textiles Intelligence. EU textile imports from Pakistan shot up in value by 18.1% in 2014 alone, which meant that Pakistan was the fastest growing textile supplier among the EU’s leading 20 textile supplying countries during the year. In clothing, EU imports from Pakistan surged by an even faster 30.5%, and this made Pakistan the fastest growing clothing supplier among the EU’s leading 20 clothing supplying countries.
Pakistani exporters appear to be taking full advantage of the opportunities provided by preferential access and are capturing a bigger share of the EU textile and clothing import market. Furthermore, they are targeting EU countries at the expense of the US market. US textile imports from Pakistan were up in value by only 1.4% in 2014 while US clothing imports from Pakistan fell by 1.1%. The surge in exports to Europe was already apparent in data for Pakistan’s 2013/14 financial year, which ended on June 30, 2014. Figures show that Pakistan’s clothing exports to Italy surged by 30.9%, exports to Belgium by 27.0%, exports to Spain by 25.5%, exports to the UK by 18.9% and exports to France by 18.8%.
Exports of towels and bedding to these countries were also up sharply. Exports to Spain soared by 37.1%, exports to France by 28.7%, exports to Italy by 24.7%, exports to Belgium by 14.8% and exports to the UK by 14.0%. Exports to the USA, on the other hand, were down by 1.5% in the case of clothing and 0.4% in the case of towels and bedding. Preferential access has been provided to Pakistan in the form of the EU’s GSP+ scheme. This provides its exporters with duty-free access to the EU over a period of ten years, and gives the industry in Pakistan a clear advantage over several important competitors, including the textile and clothing industries in India, Indonesia, Thailand, Vietnam and, not least, China. However, Pakistan’s GSP+ status will be reviewed every two years as its continuation will depend upon the country implementing 27 core international conventions relating to human rights, labour rights, sustainable development and good governance.
Furthermore, the scheme will be reviewed after three years, whereupon Pakistan could lose its GSP+ status if EU imports from Pakistan covered by GSP+ exceed 2% of EU imports from all GSP beneficiaries. It is reckoned that GSP+ status could provide the textile and clothing industry in Pakistan with a 10-14% duty advantage. But the extent to which the industry will benefit from this advantage will be dependent on its ability to meet the demands of buyers and consumers for stylish and high quality items, and on its ability to provide satisfactory working conditions and meet environmental challenges.
SOURCE: The American Journal of Transportation
In fulfilment of some of the campaign promises of President Muhammadu Buhari to revive cotton and textile industry, the Presidency has directed immediate inauguration of a special committee that would see to the resuscitation of the ailing industry. Permanent Secretary, Federal Ministry of Agriculture and Rural Development, Sonny Echono, who disclosed this while inaugurating the committee in Abuja, lamented that cotton, textile and garments industries across the country have become “shadows of themselves” due to influx of cheap textile materials, inconsistent government policies and dumping of sub-standard textile materials in the country. Apart from this committee, other committees raised by the Permanent Secretary include the Committee on Operationalisation of Federal Government Storage Facilities, Committee on Strategic Action Plan for the Development of Grazing Reserves and Stock Routes nationwide as well as the Committee on the Revitalisation of Agricultural Extension Services in Nigeria. While speaking on the need to resuscitate cotton, textile and garments industry in Nigeria, he noted that the industry had hitherto over 400,000 employees, adding that due to the deplorable state of textile and garments industry, the number of its employees has significantly reduced to about 30,000.
According to him: “The UNTH in Kaduna, textile industries in Aba and Kano, these industries alone employed over 400,000 Nigerians but today, if you go there, they are ghosts of themselves. Only about 30,000 workers are working in all these textile industries. “Worried and concerned on the need to create jobs and add value, because we are spending so much money in importing garments, the President gave this charge to set up this committee.” He, however, expressed optimism that the Nigerian textile industry has the potential to compete with the best in the world, adding that President Buhari-led administration was irrevocably committed to ensuring substantial growth in high quality cotton production to feed textile and garment industry, thereby bringing back a thriving textile and garments industry.
SOURCE: The Nigerian Guardian
China’s economy grew an annual 7 percent in the second quarter, steady with the previous quarter and slightly better than analysts’ forecasts, though further stimulus is still expected after the quarter ended with a stock market crash. It has been a difficult year for the world’s second-largest economy. Slowing growth in trade, investment and domestic demand has been compounded by a cooling property sector, deflationary pressure, and most recently a stock market crash, so the recent sequence of data releases showing signs of improvement may help buttress faltering confidence in the effectiveness of prior policy support measures. Analysts polled by Reuters had forecast gross domestic product (GDP) in the world’s second-largest economy would grow 6.9 percent in April-June from a year earlier, compared with 7.0 percent in the March quarter.
On a quarterly basis, the economy grew 1.7 percent compared with 1.4 percent in the March quarter, the National Bureau of Statistics said on Wednesday. Monthly activity data, released alongside the GDP report, also beat expectations across the board to show signs of a rebound, with factory output hitting a five-month high. The statistics bureau said the changes, which included better-than-expected employment conditions, were “hard won” but further moves were needed to consolidate recovery. “We must also take note that domestic and the external economic environment remains complex, and the global economic recovery is tortuous and slow,” the bureau statement said.
Data on Tuesday showed bank lending increased sharply in June, thanks to central bank support, but how much of that new credit flowed into the real economy, as opposed to supporting stock market speculation, is unclear. However, Wednesday’s data showed fixed-asset investment rose an annual 11.4 percent in the first six months of 2015, the bureau said, while industrial output growth quickened to 6.8 percent. Retail sales quickened to 10.6 percent, suggesting a wider economic effect. Some have questioned the accuracy of recent official data releases, saying they don’t fit with other signs of general weakness, in particular inflation data. The statistics bureau on Wednesday insisted the growth data was accurate and rejected suggestions that figures were being inflated. However, it’s not just the government that has been reporting a warmer second quarter; the recent independent China Beige Book survey also reported signs of a broad-based recovery for the period, which it said was largely driven by growth in the interior provinces. “While actual growth is almost certainly a percentage point or two slower than the official figures show, there are good reasons to think that the latest figures are mirroring a genuine stabilisation of conditions on the ground,” wrote Julian Evans-Pritchard, economist at Capital Economics in Singapore. “One reason is that the surge in brokerage activity associated with the equity bubble feeds directly into the service sector component of GDP. “Perhaps more importantly, there is growing evidence of an improvement in the wider economy.”
Chinese stock markets did not celebrate the news, however, with benchmark indexes down nearly 3 percent in morning trade. The government is still trying to stabilise its exchanges, which lost as much as 30 percent in a few short weeks of panicked selling before Beijing stepped in with a slew of support measures. The statistics bureau said a stable stock market was vital for China’s economy and forceful measures taken recently to contain the meltdown were showing results. “The data is largely in line with market expectations, and thus there will be no major impact on the stock market,” said Zhang Qi, senior stock analyst at Haitong Securities in Shanghai. “Stock investors at present care more about what the government policy towards the market is, whereas the connection between the economy and the market has somehow loosened.” The government has forecast economic growth of around 7 percent for 2015, which would be the weakest rate in 25 years.
SOURCE: The Financial Express
The Bangladesh government has reworked on cash incentive rate for 14 sectors including apparel to encourage exports during the current fiscal year. The central bank issued a circular to this effect on Monday. According to Bangladesh Bank, exporters were given Tk 34 billion in cash incentive in the just concluded 2014-15 FY. The circular states that incentives have reduced on finished jute products from 10 percent to 7.5 percent, on jute yarn from 7.5 percent to 5 percent and in case of leather goods from 15 percent to 12.5 percent. The rate remains unchanged at 3 percent for new products in apparel sector and for exports to new markets, excluding the United States, Canada and European Union.
Additional incentive on small and medium industries in the apparel sector has been cut to 4 percent from 5 percent. Incentives remain unchanged at 15-20 percent for goods made of elephant grass, paddy straw and sugarcane straw.Diversified’ jute goods have been included this year in the list of products for cash incentives. The government will give 10 percent cash incentive to exporters of the products on condition that at least 75 percent of their raw-materials comprise jute. However, light engineering goods will be getting 15 percent incentive this FY against 10 percent in the last FY.
SOURCE: Yarns&Fibers
Sri Lankan apparel industry has witnessed 9.8 percent growth rate as strong demand was sustained from the EU and the USA in the first quarter of 2015. The apparel export to the US and EU increased by 8.8 percent and 10.9 percent respectively. Over the year 2014-15 the total apparel exports from Sri Lanka accounted for 89 percent to the US and EU. Textured Jersey Lanka PLC (TJL), Sri Lankan leading textile manufacturer said that the company is also directly impacted by demand from domestic apparel manufacturers and foreign retailers. Knit garment exports from Sri Lanka increased by 11.7% while exports of woven apparel increased by 7.1% in 2014 calendar year. The knit manufacturing segment is showing growth potential, with many countries looking at Sri Lanka as a potential manufacture for this range of garments. The industry growth and TJL’s own customer portfolio being predominantly US and European based, strategically positions TJL to leverage its capabilities to ensure a strong growth trajectory.
A significant development during the year was the commencement of negotiations to regain the Generalised Scheme of Preferences Plus (GSP+) facility for Sri Lanka. If re-instated, the GSP+ facility will provide concessionary access for Sri Lankan apparel, into the EU and will enhance the growth potential of the entire apparel industry. The GSP+ would allow duty free exports of Sri Lanka. Given the highly competitive global apparel industry, a price differential such as the offering in GSP+ will significantly boost European demand for Sri Lankan apparel. Predictably, such an advantage will indirectly increase global demand for Sri Lankan textile products. The Sri Lankan apparel will be more competitive in the European markets as the concession will not only make sourcing fabric within Sri Lanka more attractive but also reduce cost of imports from Sri Lanka into EU countries.
SOURCE: Yarns&Fibers
As Intertextile Shanghai Home Textiles continues to expand beyond traditional home textile items to cover the entire product spectrum, it will feature a new trend program at the fair which runs from August 26-28, 2015. The InterDesign program has been developed in response to the increasing interest of Chinese consumers in design and trends, with some of the industry’s biggest players participating this year. "The InterDesign Program includes three special areas in hall 7.2 which comprises of a Trend Area, Trend Concept Show and Forum Space," a press release from Messe Frankfurt, the organiser said. The International Lifestyle Trend Area, which is designed by the NellyRodi Agency, will feature the 2016 lifestyle trend concepts, while the Trend Concept Show will bring these trends to life in a practical home setting. The show is coordinated this year by leading Chinese designer Shen Lei, who is also a member of the 2015 Trend Committee which developed the 2016 trends. He has recruited some of China’s best interior designers, who have been paired with the industry’s leading brands, to create displays which help buyers visualise the latest trends.
A comprehensive seminar program with sessions conducted by the industry’s top experts is also on offer at Intertextile Shanghai Home Textiles. In the Design & Trends category, the highlights include a talk from Vincent Grégoire of the NellyRodi Agency who will explain in detail the 2016 trends found in the International Lifestyle Trend Area. On day one, a forum talk will be led by Shen Lei who will conduct an open discussion with the designers about their featured work in the Trend Concept Show. In addition to the seminars, tours of the International Lifestyle Trend Area will also be conducted by members of the Trend Committee. Intertextile Shanghai Home Textiles will feature around 1,400 exhibitors from some 30 countries and regions in the August edition, which will be held in Shanghai.
SOURCE: Fibre2fashion
