Polyester fibre and yarn Fibre price movements were mixed in September with manmade fibres moving up rapidly while cotton prices were subdued to marginally up across markets. They also supported spinners to adjust their prices in line with change in cost. Polyester staple fibre prices moved up after moving sideways in China while they were lifted in Pakistan and India. However, most PSF suppliers held stable offers in late September while some cut down offers slightly amid sidelined stance and feedstock under downward pressure. Overall, discussionswere flat with moderate trading while some spinning mills closed units for holiday, leading to flagging demand. In China, 1.4D direct-melt-spun PSF offers in Jiangsu and Zhejiang averaged 8.72-8.89 Yuan a kg (US$1.33-1.35 a kg, up US cents 12 on the month). Export offers were heard at around US$1.17 a kg FOB China. In Pakistan, PSF prices rose sharply to reflect the rise of import offers from China, which was an opportunity for domestic producers to lift their prices. Margins of PSF producers also rose over a decline of material costs, as PTA and MEG prices are now retreating to lower levels. 1.4D PSF prices jumped to PakRs.131.25-132.25 a kg (US$1.25-1.26 a kg, up US…
Fabric exports decline slowed down After prolonged period of sharp declines, woven fabric shipments fall tapered to 2.4 per cent in terms of volume in August, and remained positive in value term. Shipments aggregated 382 million sqmtr during the month valued at US$328 million or INR2,070 crore. During the first five months of 2017-18, total woven fabric exports were at 1,720 million sqmtr, down 5 per cent year on year. In August, 141 countries imported woven fabrics from India, with Bangladesh being the largest importer, followed by UAE and Sri Lanka. The three together accounted for 28 per cent of total woven fabrics export during the month. During the month, 10 countries did not import any fab-ric from India as they did last year. However, they were replaced by 23 countries which import-ed fabric worth US$3 million this August. Afghanistan, Uzbekistan, Cote D'Ivoire, Nepal and Hungary were the fastest growing markets for woven fabrics, and accounted for 5 per cent of total value exported in August. Woven fabrics made of 100% cotton accounted for 49 per cent of all fabrics exported, worth US$160 million (INR1,010 crore) with volumes at 172 million sqmtr. The average unit price realization was at US$0.93…
GST concern : Unhappy Traders will not illuminate the market this year The texile traders will not illuminate the market during Diwali festival to mark their protest against GST. The market's buildings will not be decorated with colourful lightings during the Diwali this year first time. The market said that the central government is not accepting the demands of the textile traders on the GST. The government is not supportive and traders have decided not to celebrate Diwali festival. The GST council again has neglected their demands. Except for the relief in e-way bill and abolition of reserve charge mechanism (RCM) till March 2018, the GST Council meeting has not accepted most of the demands put forth by the traders. Traders stated that they will not be able to take the benefit of the composition scheme as the turnover for the scheme has been raised from Rs 75 lakh to Rs 1 crore per annum. Most of the traders, even the small one, will not be benefited by the scheme. The GST Council has given relief to taxpayers by filing quarterly returns, provided his turnover is less than Rs 1.5 crore per annum. In the textile sector, Rs 1.5 crore…
Spun yarn exports aggregated 83 million kgs in June 2017, down 22 per cent and 11 per cent in value terms at US$260 million. However, they were 11 per cent more than May shipment. Shipment in June was also adversely impacted by the production cuts just before the rolling in of the Goods and Service Tax regime from 1 July. Producers and trader refrained from accumulating inventory and were busy offloading surplus stock. Unit value realization averaged US$3.14 per kg, down US cents 3 from previous month but up US cents 39 as compared to June 2016 Cotton yarn was exported to 71 markets worth US$214 million (INR1,360 crore) and volumes at 66 million kg. The aver-age unit price realization was at US$3.23 a kg, down US cents 7 from previous month and up US cents 46 from the same month a year ago. China reemerged as the largest importer of cotton yarn from India in June, followed by Bangladesh and Turkey. 15 coun-tries did not import cotton yarn from India this June as they did last year. However, they were replaced by 12 countries which imported yarn worth US$1.6 million in June 2017. Brazil, Turkey and United Arab Emirates…
Crude up on Weak US$ and signs of supply tightness Crude oil prices declined early in August, pressured by rising OPEC exports and strong US output, but the fall was limited by strong US jobs report which bolstered hopes for growing demand. Prices continued to sober later but bounced back sharply in third week, rallied by a fall in US$ and drillers cutting down rigs. Signs of supply tightness started surfacing in US. While prices continued to remain supported by weak US$, the markets were adversely impacted by Hurricane Harvey bracing the USG coast. Harvey, a powerful Category 3 storm, forced shutting down of refineries, terminals, onshore and offshore production facilities and other infrastructure. Benchmark US crude averaged US$48.12 a barrel while European Brent averaged US$51.93 a barrel, both up 3% and 6% on the month, respectively. MEG prices rise on cost support, but PTA sobers Ethylene prices in Asia surged 25% on the month hitting a 3 month high on tight supply and strong downstream demand while European spot surged 9% as supply tightened following fire at Pernis refinery. In US ethylene prices climbed 30% on anticipated start-up of several derivative projects, following decline in July contract prices. Strong…
The Textiles Committee, a statutory organisation under the Ministry of Textiles, Government of India has been conducting a survey to quantify the domestic demand of textiles in the household sectors of the country since 1969. The demand of textiles is derived on the basis of textile purchase data collected bi-monthly from selected panel household across the country. The latest annual report “Market for Textiles and Clothing: National Household Survey 2015” is prepared on the basis of bi-monthly textile purchase data for the calendar year 2014. The latest annual report has tried to capture the demand for most of the popular products purchased by the household sector during 2014. The estimation on demand pattern includes the per capita consumption of textiles, fibre and sector-wise demand; region–wise demand of textiles etc. for the reference and use of the industry and Government. Aggregate & Per Capita Demand of Textiles The aggregate purchased of textiles was 36086 million metres in 2014 as compared to 31636 million metres in 2012 and have experienced a positive growth rate of 14.07%. In value terms, the aggregate purchase of textiles is Rs. 4363466 million in 2014 while in 2012 it was Rs. 3493287 million. The aggregate value of…
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