Surat report: January 2016 issue

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TUFS

Central government declared new TUFS policy in which notification is about remaining TUFS subsidy funds. But this notification is not clear to many of the industry people. Embroidery machines subsidy is not clear, surat industry planning many big investment in embroidery segment, they are not very happy. Surat’s  weaving , embroidery, processing segments have more than 1000 cases pending from 2-3 years. Surat industry have made one committee by chamber, for subsidy, data will be collected and will be presented in front of textile commissioner.

Central Government declared 17822 crore of fund ( 12671 crore for old cases and 5151 crore for new cases). But with previous UID number and subsidy there is no clarification given. New UID number will be generated or not, which segment how many subsidy requested, cases pending etc. all will be discussed with the textile commissioner. A-TUFS capital subsidy reduced to 10-15 %, here they have given limitation for investment.

PROMISSORY NOTE

To reduce the cheating and bankruptcy of Surat grey fabric manufacture, weavers association decided to start the Promissory note. Promissory note means a letter prepared during fabric sales.

In surat, past years many cheating cases have been seen, last year more than 30 companies are bankrupted. Many weavers, small traders suffered losses due to this. Traders’ bankruptcy affects the weavers most. Due to lack of strong documents weavers can’t take any legal action towards traders and dealers. FOSTA supports weavers, so last meeting they discussed regarding promissory note and new regulations will be implemented for new business, this not have revenue stamp with duly sign and stamp of weavers, traders and grey fabric distributors. Even traders’ photo ID, address also will be taken.

SYNTHETIC YARN PRICES DOWN BY 15%

Synthetic city Surat, synthetic yarn prices are lowest. International market crude oil prices and yarn basic raw material prices fluctuation resulted in low price in yarn. In a year, process and roto based yarns prices reduced to 10-15%. At beginning of the year Barrel price is USD 48, yarn price in May 2015 gone to USD 62.51. Yarn raw material perazailin, PTA, MEG prices are reduced, so yarn prices are reduced. On 31st October, 2015 yarn basic raw material PTA / kg is RS. 45.25, now it’s Rs. 41. Same way MEG was at Rs. 44.34 / Kg, now it’s Rs. 39/ Kg, FGPET was at Rs. 62 / Kg now it’s Rs. 56/ Kg. So reducing trends of raw material prices are making market gloomy. Spinners give Rs. 3 to 4 discounts, still no new purchase. Now spinners, texurisers are making yarns as per demand only.

 

 

YARN PRICE IN SURAT

QUALITY

NOW PRICE / KG

1 YEAR BEFORE PRICE / KG

80 Crimp

Rs. 91-93

Rs. 106-107

90 Crimp

Rs. 90-92

Rs. 104-105

100 Crimp

Rs. 89-90

Rs. 103-104

80/72 Roto

Rs. 94-96

Rs. 108-109

 

PER BARREL CRUDE OIL PRICE IN USD

MONTH

CRUDE OIL (USD)

May 2015

62.51

June 2015

61.30

July 2015

54.43

August 2015

45.72

September 2015

46.29

October 2015

46.96

November 2015

43.13

December 2015

37.40

January 2016

30.32

 

 

 

 

 

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