Textile Raw Material Price 2015-07-15
|
Item |
Price |
Unit |
Fluctuation |
|
PSF |
1173.26 |
USD/Ton |
-0.14% |
|
VSF |
2129.50 |
USD/Ton |
0.54% |
|
ASF |
2500.73 |
USD/Ton |
0.82% |
|
Polyester POY |
1161.84 |
USD/Ton |
-0.42% |
|
Nylon FDY |
2969.88 |
USD/Ton |
-1.09% |
|
40D Spandex |
6200.84 |
USD/Ton |
0% |
|
Nylon DTY |
6029.50 |
USD/Ton |
0% |
|
Viscose Long Filament |
1427.83 |
USD/Ton |
0% |
|
Polyester DTY |
2774.06 |
USD/Ton |
-0.58% |
|
Nylon POY |
2696.55 |
USD/Ton |
2.64% |
|
Acrylic Top 3D |
1365.82 |
USD/Ton |
-0.36% |
|
Polyester FDY |
3247.28 |
USD/Ton |
-0.50% |
|
30S Spun Rayon Yarn |
2733.27 |
USD/Ton |
0.30% |
|
32S Polyester Yarn |
1892.89 |
USD/Ton |
0% |
|
45S T/C Yarn |
2953.56 |
USD/Ton |
0% |
|
45S Polyester Yarn |
2904.60 |
USD/Ton |
0.56% |
|
T/C Yarn 65/35 32S |
2676.15 |
USD/Ton |
0% |
|
40S Rayon Yarn |
2072.39 |
USD/Ton |
0% |
|
T/R Yarn 65/35 32S |
2480.34 |
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.15/07/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Prime Minister Narendra Modi on Wednesday launched his government's another ambitious scheme the National Skill Development Mission to train 400 million Indians by 2022. "If China is known as world's manufacturing factory, India can be world's human resource capital," Modi told a packed audience in New Delhi. The prime minister was referring to 65 per cent of India's population which is below the age of 35 years. Modi said Indians should be ready to replace the diminishing workforce in other countries. "We have to scientifically map the world's manpower requirement and prepare accordingly," he added. The government also launched the Pradhan Mantri Kaushal Vikas Yojana (PMKVY), skill loan scheme and the national policy for skill development and entrepreneurship 2015 on the World Youth Skill Day. Under the skill loan scheme, youth can avail credit between Rs 5,000 and Rs 150,000 to attend skill-related training programme. Modi stressed the need for more ITI institutes in the country.
The government estimates an incremental requirement of 110 million additional skilled personnel across 24 sectors by 2022. The demand will be highest in real estate, transport, retail and beauty and wellness sectors. But the agricultural sector will see a negative growth with 24.8 million people moving to other jobs. The Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) has announced nearly a dozen schemes, including Digital India, Make in India, Jan Dhan and Swachh Bharat since it took over in May last year. Speaking at the launch, Finance Minister Arun Jaitley said Indian economy was looking up and there would be a huge manpower requirement in services and manufacturing sectors. "With economy recovering and picking up, with wages in our other competitive economies increasing hugely compared to the Indian economy, our opportunities are great. And when Make in India and Skilling India will converge, no doubt we would have a great future ahead of us," Jaitley said.
Besides Jaitley and other Cabinet ministers, chief ministers from various BJP or its alliance-run states were also present at the occasion. The industry also wasted no time to announce its support and participation. While the NIIT Limited committed to train 10 million young Indians across 16 sectors over the next five years, Tata Housing announced that it would provide vocational skill development training to 100,000 socio-economically backward youth across the nation by 2024. "Around 50 per cent of our population is below 27 years. We are talking about 700 million such youngsters by 2020. This is the first time in the history of humankind such a large population is actively seeking livelihood and employment opportunities. Skill India gives youngsters the most important aspect for their life, employability and respect in society. Skill India will get India the most important asset of this century manpower," Narayanan Ramaswamy, partner and head of education and skill development, KPMG in India said in a statement.
SOURCE: The Business Standard
Merchandise exports in June contracted 15.82 per cent to $22.28 billion compared to $26.47 billion in the same month last year. This was for the seventh straight month that shipments from India witnessed a decline mainly on account of weaker demand largely due to crisis in China and Greece. In May, the rate of decline of exports was higher at 20.19 per cent. Total exports in the first quarter of this financial year also plummeted 16.75 per cent to $66.69 billion compared to $80.11 billion in the corresponding period last year, according to the trade data released here on Wednesday by the ministry of commerce and industry. Imports in June, on the other hand, were 13.40 per cent lower reaching $33.11 billion compared to $38.24 billion. Cumulatively, imports saw a decline of 12.61 per cent at $9.89 billion as against $11.31 billion in June last year.
Interestingly, for the last couple of months, non-oil imports are also falling continuously. In May and June, non-oil imports declined 2.24 per cent and 1.85 per cent at $24.76 billion and $24.90 billion, respectively. Gold imports in June came down by 36.96 per cent to $1.96 billion compared to $3.12 in June 2014. In the last three months, non-oil non-gold imports have been more or less steady barring only May when it contracted 4.3 per cent. In April and June they registered a growth rate of 7.1 per cent and 3.2 per cent respectively. “Decline in non-oil imports for the last two months consecutively, indicate a trend that manufacturing is not picking up… Export fall in June was expected. The uncertainty in global economy on account of what is happening in China and Greece is having its impact on exports. This trend is likely to continue till the second quarter-end, although the outlook for exports looks dicey. Exports would see a turnaround in the second half of the year when Christmas holidays approach,” said Soumya Kanti Ghosh, chief economic advisor, State Bank of India (SBI).
The only silver lining was trade deficit that remained steady at $10.83 billion compared to $10.41 billion in May. In June, oil imports came down by 34.97 per cent to $8.67 billion as against $13.34 billion in June 2014. Total oil imports during April-June declined 39.54 per cent at $24.65 billion compared to $40.78 billion in the corresponding period of the last financial year. According to Aditi Nayar, senior economist, ICRA, the continuous fall in non-oil exports remains a “source of apprehension.” “In particular, the contraction in shipment of items such as engineering and electronic goods, reinforces concerns regarding the feebleness of external demand,” Nayar stated. In June, export of engineering and electronic goods declined 5.56 per cent and 9.85 per cent at $5.09 billion and $0.47 billion, respectively. “The interest subvention for exports should be released immediately as the inordinate delay is dampening the spirit of exporters, which is otherwise low due to global conditions,” said SC Ralhan, president, Federation of Indian Export Organisations (FIEO). In an effort to strengthen export performance the commerce secretary Rita Teaotia on Wednesday convened a meeting of state government representatives and asked them to come out their own respective trade policies.
SOURCE: The Business Standard
Subdued availability of the cargo from the manufacturing, infrastructure and agricultural sectors along with reduction in the diesel prices have pulled down the truck rentals by 3 to 4% across various trunk routes in June, reports from the Indian Foundation for Transport Research and Training showed. Cargo such as vegetables and fruit shrunk as the mango crop, which was available in abundance in May and June, was not there and closing of wheat procurement by the agencies further exacerbated cause of the truck fleet owners.
Sanjay Singh, senior fellow, IFTRT, said that every sector from manufacturing to agriculture did not provide adequate cargo in July. “The drop in cargo availability across the board has resulted in trucks waiting for three to four days for return cargo on the key trunk routes. Automobile dealers saddled with excess inventory of truck chassis at June quarter end, as truck fleet owners shy away from new purchases due to weak truck transport business in the market,” said Singh in the report. The freight rates in the busiest route — Delhi to Mumbai — fell by 4% to Rs 82,210 per round trip while the same on the Delhi to Guwahati route — the most expensive — also fell by 4% to Rs 1,41,500 per round trip.
According to the report, road transporters may have to wait for another 2-3 quarter to see any increase in the availability of the cargo from the infrastructure, manufacturing and mining sectors. “As per market situation, Rs.0.71 per litre cut in diesel price on July 1 may have some marginal reflection on the truck rentals in the current week. However, the larger picture of quick recovery in the manufacturing sector and exports seem to remain very uncertain,” said IFTRT in the report.
SOURCE: The Financial Express
Apparel Export Promotion Council has recently approached UP Chief Minister Akhilesh Yadav for land as plans are in formation stage to develop an apparel cluster on the Yamuna Expressway in Noida which will involve an overall investment to the tune of Rs.300 crore. More than 100 factories will be set up in the land cluster spanning 200 acres generating jobs to lakhs of people. Apparel Export Promotion Council (AEPC) Member Lalit Thukral said that every factory is expected to employ around 5,000-6,000 workers, more than half of which are likely to be women. They expect the land to be allotted within 2 months. Besides, on the performance of apparel exports, AEPC Chairman Virender Uppal said that the apparel exports have registered a growth of 7 percent to the tune of USD 3 billion as compared to the same period of last year.
As the incentive in the FTP 2015-2019 has been withdrawn; it has a dampening effect on the overall trade. In the FTP 2015-19 announcements, garment export sector got 2 percent reward only on 239 HS lines out of 398 lines. The service sector got 5 percent scrip under Service Sector India Scheme. Uppal further said that achieving the apparel exports target of USD 18.7 billion in 2015-16 fixed by the Ministry of Textile which is 11 percent higher than last year's actual achievement, would be very ambitious task and difficult to achieve, unless, the government accepts and implements the recommendations put forward by the AEPC.
SOURCE: Yarns&Fibers
With a view to bettering export performance, the government on Wednesday asked states to prepare their own foreign trade policy (FTP) enumerating their export strategy. During a meeting between Commerce Secretary Rita Teaotia and senior officials from various state governments, the Centre also asked them to expedite the work on infrastructure development such as manufacturing zones, industrial parks and economic corridors. “Several issues were discussed today. We have asked the state government officials to increase the pace of modernising export infrastructure like roads, ports and power … We have also urged them to appoint export commissioners and prepare their own trade policy,” said a senior official. In an effort to involve the states in the country’s exporting activity, the ministry of commerce and industry has also formed a trade facilitation council under the chairmanship of Commerce Minister Nirmala Sitharaman.
From now on, states would also be able to make their own export performance assessment by accessing the data through the portal of Directorate General of Commercial Intelligence & Statistics (DGCI&S). The government is aiming at making this data available to the state governments on a real-time basis. Issues related to quick refund of local taxes and relaxing the regulatory environment was also discussed, officials said. Even as the government took efforts to include the states in boosting exports, shipments in June indicated 15.82 per cent contraction at $22.28 billion. This is for the seventh month in a row that exports have witnessed a decline. Exports have been falling since December 2014. The FTP 2015-2020 had set a target of achieving exports worth $900 billion by 2020. However, exporters have been upset with the fact that under the new FTP, the rate of rewards were reduced to two to five per cent from two to seven per cent for merchandise exports.
SOURCE: The Business Standard
Commerce Ministry has increased the duty benefits on several products, including 63 handicraft items, in a bid to boost exports. Besides, there are several other products whose duty benefits have been increased. The handicrafts products which have been benefited include candles, hand bags/shopping bags of cotton, wooden frames for paintings photographs mirrors or similar objects, handmade paper and shawl, scarves, muffler of man-made fibres. "The rates of the 63 lines (of handicraft sector) are amended...Under the Merchandise Exports from India Scheme (MEIS)," the Director General of Foreign Trade has said.
Meanwhile, exporters body FIEO said few European countries, including Norway, who were earlier on group C list have now been put in group A list. In group A list, the government gives up to 5 per cent duty benefits and more products are there. Export promotion Council for Handicrafts (EPCH) said that in these 63 items the benefit was less and now the DGFT has increased the incentives and also add 30 new handicrafts items. The Foreign Trade Policy 2015-20 was announced in April with a new scheme -- MEIS -- replacing the Focus Product/Focus Market Scheme. Under this scheme, duty credit scrip benefit was given on various handicraft items, but several products were not included, EPCH said in a statement. Handicrafts export grew by 10 per cent to USD 131.5 million in June.
SOURCE: The Business Standard
India has decided to take a two-tiered approach for slashing of tariffs on trade in goods under the proposed Regional Comprehensive Economic Partnership (RCEP) offering greater tariff lines for this Free Trade Agreement (FTA) partners. During an inter-ministerial session on RCEP that took place in Kuala Lumpur, it is learnt that India offered around 75-80 tariff lines for duty cuts, for countries with which it has FTA such as Singapore, Malaysia, Japan and Korea, while for countries like China, Australia and New Zealand, among others, it is likely to offer 40-50 tariff lines for duty cuts.
India has taken this stance to appease the domestic industry that has put up stiff resistance in negotiating the China-led RCEP, a senior official told Business Standard on condition of anonymity. But, apparently, while China has no qualms about this offer, such a move by India has miffed Australia, which wants an ambitious trade pact and duty cuts on over 90 per cent tariff lines. Following the meeting in Malaysia, which was mainly to ascertain the position of member countries regarding their offers for trade in goods, services and investment, trade ministers would now be sitting for an official round of negotiations in Myanmar in August and then in October in South Korea. Commerce and Industry Minister Nirmala Sitharaman, who attended the meeting in Malaysia, 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,” notified a statement by the ministry of commerce and industry.
Malaysia is the Association of Southeast Asian Nations (ASEAN) chair for this year. The deadline for concluding RCEP is by the year-end. Launched in November 2012, RCEP is seen as a counteraction against US-led Trans-Pacific Partnership (TPP) agreement. It is being negotiated between the 10-member ASEAN economies —Singapore, Malaysia, Thailand, Vietnam, Indonesia, Philippines, Myanmar, Laos, Cambodia and Brunei and six of its free trade partners — China, Australia, Japan, South Korea, New Zealand and India. So far, there have been eight rounds of talks and it is learnt that the offer on trade in services has already been negotiated. India is also seeking separate agreements on trade in goods and trade in services and investment within the RCEP.
SOURCE: The Business Standard
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$ 57.08 per barrel (bbl) on 15.07.2015. This was higher than the price of US$ 56.33 per bbl on previous publishing day of 14.07.2015. In rupee terms, the price of Indian Basket increased to Rs 3617.73 per bbl on 15.07.2015 as compared to Rs 3576.96 per bbl on 14.07.2015. Rupee closed stronger at Rs 63.38 per US$ on 15.07.2015 as against Rs 63.50 per US$ on 14.07.2015. The table below gives details in this regard:
|
Particulars |
Unit |
Price on July 15, 2015 (Previous trading day i.e. 14.07.2015) |
Pricing Fortnight for 16.07.2015 (June 27 to July 13, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
57.08 (56.33) |
58.69 |
|
(Rs/bbl |
3617.73 (3576.96) |
3730.34 |
|
|
Exchange Rate |
(Rs/$) |
63.38 (63.50) |
63.56 |
SOURCE: PIB
Vietnam’s textile exports since the beginning of the year reached $12 million, for growth of 9 per cent compared to the same period last year, according to Vietnam Textile & Apparel Association (VITAS). But this is the lowest growth recorded for the last three years, it added, and well down on the 19 per cent recorded for the same period of last year. Only 27.5 per cent of the $12 million came from domestic firms, with foreign-invested firms accounting for the vast majority.
The textile industry has faced many difficulties this year, with smaller orders coming from regular markets such as Japan and the EU. Orders are still being placed but most are still small, meaning the situation is likely to continue. Although the US market is showing some positive signs it cannot compensate for declining orders from Japan and the EU. The reasons behind the smaller orders include an increase in the VND-USD exchange rate as well the economic crisis in Greece, which is affecting the EU economy, according to Mr. Le Quang Hung, Chairman of Garmex Saigon. “When Vietnam’s exported textiles to the EU and Japan reach consumers their prices are much higher and so fail to sell,” he said. Textiles are a major export of Vietnam, reaching $24 million in 2014 and are targeted at $27 million to $27.5 million for this year.
SOURCE: The Vietnam Net
The exports of textiles and apparel from China continued to show a downtrend and fell by 8.79 per cent year-on-year in June 2015, according to the latest data released by the General Administration of Customs. Category-wise, textiles (including yarn, fabric and related products) exports were valued at $9.468 billion, registering an increase of 2.25 per cent year-on-year, while exports of apparel and clothing accessories declined by 3.09 per cent to $15.881 billion during the month, the data showed. During the first half of this year, the value of China’s total textile and garment exports has crossed $125 billion, with textile and apparel exports accounting for around $50 billion and $75 billion respectively.
China’s textile and garment exports have been declining for the past few months. Due to the impact of weak global economy, the performance of China’s main textile and garment export markets is not ideal, according to experts. Although there is economic recovery in the US, difficulties still exist in Japan and the European market, resulting in continued slump in China’s textile and apparel exports.
SOURCE: Fibre2fashion
China plans to give more of its importers subsidised loans as part of wider efforts to shore up the trade sector and support the world's second-largest economy, the Chinese cabinet said on Wednesday after a weekly meeting. Hurt by anaemic foreign and domestic demand, China's trade sector has undershot the government's target of growing the value of Chinese imports and exports by 6 percent this year. In fact, imports and exports slumped almost 7 percent in the first six months. To stoke activity, the State Council said it will increase the disbursements of subsidised loans for importers, and ensure that goods are cleared more quickly through customs. More advanced technology equipment and components will also be imported to boost China's domestic demand and help its companies to move up the production value chain, the government said in a statement on its website.
The cabinet also reiterated China's currency policy by saying that the yuan will be kept at a stable and reasonable level to minimise the foreign exchange risks faced by companies. In reality, however, the yuan - which tracks the dollar - has hit record highs this year against a series of foreign currencies including the euro on the back of a stronger greenback. More credit guarantees would be given to exporters so they can secure loans, and banks would be encouraged to provide support to exporters when they are claiming their tax rebates. China will also increase the amount of loans it issues from its $3.69 trillion of foreign exchange reserves, and local companies will get more opportunities to raise renminbi funds abroad.
SOURCE: The Economic Times
The Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) has asked the government to take measures for to bring down cost of doing business to the level of Pakistan’s regional competitors in order to survive in tough competition in global market, according to reports in the Pakistani media. In a joint statement PRGMEA chairman, Ijaz Khokhar, and vice chairman, Naseer Malik, said that Pakistan’s textile exports were very close to Indian textile exports few years back. But with a higher industrial growth rate and conducive policies, India’s annual textile exports have crossed $33 billion mark. Khokhar said that China added further 35.29 million spindles while India added 14.2 million and Bangladesh 1.98million spindles in textile sector during the period 2008-13. In contrast, Pakistan added only 1.02 million spindles in five years.
The PRGMEA chairman said that regional comparison of cost of doing business shows that Pakistan’s wages, interest rates, electricity, gas and water tariff are much higher and have created hurdles for smooth business. Khokhar said that the value-added textile export sector was vital with 45 per cent of total exports of the country and contributes 84 per cent of the textile exports consisting of apparels, knitted and woven garments, bedroom furnishing, made-ups, processed fabric, knitted and woven fabric, towel etc. Moreover the value-added textile export sector generates the largest employment of almost 34 per cent of nation’s total employment, he added. His deputy Naseer Malik warned that without introducing the culture of value-addition, Pakistan would never be able to compete in the international market.
SOURCE: Fibre2fashion
Kenyan cabinet secretary (minister) for foreign affairs and international trade Amina Mohamed has urged Kenyan enterprises to forge strategic partnerships with global companies in order to gain access to global value chains, according to media reports. Speaking in a panel discussion on "'Financing for Impact: Investing in sustainable fashion value chain" at the 3rd International Conference on Financing for Development (FFD) in Addis Ababa earlier this week, she said that through such partnerships, Kenyan products have been able to find their way to leading stores internationally. FFD is the launch-pad of a renewed and strengthened global partnership for financing sustainable development with a focus on people. FFD will provide a crucial contribution to the implementation of the Sustainable Development Goals, which world leaders are set to agree upon in New York in September, and will form the basis for discussions on climate change in Paris in December.
Amina attributed the growing success of Kenya's fashion industry to collaboration with several global fashion outlets and personalities. "Additionally, partnerships have availed the much needed capacity-building through training and technology transfer," she added. The minister cited the collaboration between Kenyan artisans with Vivienne Westwood, an English fashion designer and businesswoman, as an example of a successful partnership which has enabled Kenyan enterprises to connect to the global value chain. "Over the past five years, Vivienne Westwood's involvement has supported thousands of micro-producers of bags and accessories, especially in Kenya, in developing their skills and improving their financial prospects," said Amina. She also cited the partnership with Mifuko, a Finnish design company which works along a Helsinki-Nairobi axis. "Mifuko products are created by Finnish artists, but are made in and inspired by Kenya," she said. She said the Kenyan government had put in place the necessary framework for partnerships and mergers. "A framework that enables and facilitates mergers and partnerships is already in place in Kenya. The framework is handy for SMEs and other enterprises that experience difficulties in connecting to global value chains," said Amina.
SOURCE: Fibre2fashion
