MEG prices rise in Asia

Asian spot MEG prices rose US$25 a ton CFR China and CFR South East Asia in the last week of January. In China, offers for nearby-month cargoes were up US$30 a ton during the week.

Mono ethylene glycol prices in Asia rose as stocking-up activities for post Chinese New Year requirements persisted.

In US, spot MEG prices were firm during the week.

European MEG spot price uptrend halted on muted demand during the week.

Courtesy: Weekly PriceWatch Report

News Tags: MEG price in China, MEG price in Europe, meg price in US, MEG prices, mono ethylene glycol prices, Polyester prices

Paraxylene price edges down across all regions

Asian paraxylene markers, CFR Taiwan/China fell US$7 a ton in the last week of January while FOB Korea was also down US$7 a ton. Isomer-grade mixed xylene prices was stable during the week. Paraxylene prices in Asia edged down on weak upstream crude oil values during the week.

In US, spot paraxylene prices declined this week amid limited activity in the market. Prompt spot paraxylene lost US$5 a ton FOB USG, while spot mixed xylenes rose US cents 3 a gallon FOB USG.

News Tags: paraxylene price, paraxylene prices in Asia, paraxylene prices in Europe, paraxylene prices in US, PX price

Globally renowned textile care forum, Texcare marks its launch in India

News Tags: Bombay Exhibition Centre, chemicals for laundry, cleaning and textile rentals, Fabric and Leather Technologies, Laundrex, laundry techniques, Messe Frankfurt India, Modern Textile Care, Texcare forum, Texcare International, textile care, Trends in Laundry, Virtual Info Systems

Mumbai
Summary: 
Texcare – the world’s leading brand for modern textile care marked its entry in India through a dedicated forum on laundry, cleaning and textile rentals organised by Messe Frankfurt India and Virtual Info Systems. The conference that was scheduled on 20 January 2018 at Bombay Exhibition Centre

Texcare – the world’s leading brand for modern textile care marked its entry in India through a dedicated forum on laundry, cleaning and textile rentals organised by Messe Frankfurt India and Virtual Info Systems. The conference that was scheduled on 20 January 2018 at Bombay Exhibition Centre alongside the Laundrex exhibition in Mumbai, successfully brought important decision makers, potential investors and enthusiastic trade professionals together under one roof from leading countries around the world.

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OECD, CNTAC signs MoU to strengthen China garment partnership

News Tags: China National Textile and Apparel Council, CNTAC, deal was struck at the OECD Forum, Due Diligence in the Garment and Footwear Sector in Paris, global textile and apparel supply chains, intensify cooperation, promote responsible business practices, signed memorandum of understanding, with OECD

Paris
OECD, CNTAC signs MoU to strengthen China garment partnership
Summary: 
The China National Textile and Apparel Council (CNTAC) signed Memorandum of Understanding (MOU) with OECD to intensify co-operation and promote responsible business practices in global textile and apparel supply chains. This deal was struck at the OECD Forum on Due Diligence in the Garment and Footwear Sector in Paris.

The China National Textile and Apparel Council (CNTAC) signed Memorandum of Understanding (MOU) with OECD to intensify co-operation and promote responsible business practices in global textile and apparel supply chains. This deal was struck at the OECD Forum on Due Diligence in the Garment and Footwear Sector in Paris.

The agreement forms part of a broader framework of co-operation between the People’s Republic of China and the OECD on responsible business conduct, and has been described as a direct outcome of the China-OECD Joint Programme of Work from 2015-16.

https://www.ecotextile.com/2018021323262/social-compliance-csr-news/oecd-strengthens-china-garment-partnership.html
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Demand for MMF increasing among Bangladesh RMG makers

News Tags: amid changes in global fashion trend, BTMA, Demand for man-made fibres, durability, higher than cotton-made yarn and fabrics, import of man-made fibre is increasing every year, increasing as a substiture for cotton, longevity of artificial fibres, polyester staple, viscose and tencel

Dhaka
Demand for MMF increasing  among Bangladesh RMG makers
Summary: 
Demand for man-made fibres such as polyester staple, viscose and tencel is increasing as a substiture for cotton amid changes in global fashion trend. The import of man-made fibre is increasing every year, said Monsoor Ahmed, secretary of the BTMA.

Demand for man-made fibres such as polyester staple, viscose and tencel is increasing as a substiture for cotton amid changes in global fashion trend. The import of man-made fibre is increasing every year, said Monsoor Ahmed, secretary of the BTMA.

According to data from Bangladesh Textile Mills Association (BTMA), Bangladesh imported 78,208 tonnes of polyester staple fibre in 2016, up 11.39 percent from 70,209 tonnes in 2015 and 35.72 percent from 51,729 tonnes in 2014.

http://www.thedailystar.net/business/man-made-fibres-getting-popular-among-rmg-makers-1534414
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Uzbekistan will have 13 new textile enterprises working in Autumn 2018

News Tags: contracts will be concluded directly, contractual basis, dehkan farms and landowners, organized in such a way, price for raw cotton will be established, procurement process, promote efficient and rational use of land, start working in autumn 2018, thirteen new cotton-textile production enterprises, Uzbekistan, water and other resources

Mumbai
Summary: 
Uzbekistan will have thirteen new cotton-textile production enterprises start working in autumn 2018. At the new production facilities, the procurement process will be organized in such a way that contracts will be concluded directly with dehkan farms and landowners.

Uzbekistan will have thirteen new cotton-textile production enterprises start working in autumn 2018. At the new production facilities, the procurement process will be organized in such a way that contracts will be concluded directly with dehkan farms and landowners.

Until now the mechanism for purchasing raw materials from the “first-hand” was not available.
According to the Uzbek Ministry of Finance, the price for raw cotton will be established on a contractual basis grounded on the costs of the producer, but they cannot be lower than the state wholesale price.

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Rise in ROSL funds to boost textile export

News Tags: 163.85 crore from Rs 1, 555 crore in this FY, apparel and garment manufacturing centres, apparel sector, Budget allocation, help boost textile export, raised to Rs 2, Remission of State Levies, ROSL scheme, Smriti Irani, Textile Minister, TUFS also increased

New Delhi
Rise in ROSL funds to boost textile export
Summary: 
The Budget allocation for remission of state levies (ROSL) scheme has been raised to Rs 2,163.85 crore from Rs 1,555 crore in 2017-18, initiatives like 39 percent increase would help boost textile export, said Textile Minister Smriti Irani.

The Budget allocation for remission of state levies (ROSL) scheme has been raised to Rs 2,163.85 crore from Rs 1,555 crore in 2017-18, initiatives like 39 percent increase would help boost textile export, said Textile Minister Smriti Irani.

Allocations under the technology upgradation fund scheme (TUFS) have also been increased by 15 percent in the Budget.

Irani said that the Rs 6,000-crore package announced for apparel sector last year, and 39 percent increase in ROSL would help push the exports.

https://www.indiatoday.in/pti-feed/story/hike-in-rosl-funds-to-boost-textile-export-irani-1168727-2018-02-13
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Slow and restricted trading seen at cotton market

News Tags: barring a few small and needy spinners, cotton market on Tuesday, cotton yarn, dull trading, KCA, KCE, Poor demand for lint. leading spinners, spot rate, trading activity slow and restricted, trading ring gave a deserted look

Karachi
Slow and restricted trading seen at cotton market
Summary: 
Due to poor demand for lint from leading spinners. Barring a few small and needy spinners, the trading ring gave a deserted look which keep trading activity slow and restricted at the cotton market on Tuesday.

Due to poor demand for lint from leading spinners. Barring a few small and needy spinners, the trading ring gave a deserted look which keep trading activity slow and restricted at the cotton market on Tuesday.

Sluggish off-take of yarn locally and falling world cotton prices continued to depress lint rates. Leading spinners already having long positions were conspicuous by their absence.

At the Karachi Cotton Association (KCA) spot rates were firm at overnight level of Rs7,000 per maund.

https://www.thenews.com.pk/print/280652-cottonunchanged
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TSIIC proposes establishment of small and medium textile park

News Tags: boost the state’s textile sector, encourage reverse migration of weavers, including the MSMEs, or clusters spread over 50-100 acre each, proposed establishment of small and medium scale textile parks, provide special subsidies and incentives, Telangana State Industrial Infrastructure Corporation, TSIIC, units in these proposed parks

new Delhi
TSIIC proposes establishment of small and medium textile park
Summary: 
The Telangana State Industrial Infrastructure Corporation (TSIIC) has proposed establishment of small and medium scale textile parks or clusters spread over 50-100 acre each to boost the state’s textile sector including the Micro Small and Medium Enterprises (MSMEs.

The Telangana State Industrial Infrastructure Corporation (TSIIC) has proposed establishment of small and medium scale textile parks or clusters spread over 50-100 acre each to boost the state’s textile sector including the Micro Small and Medium Enterprises (MSMEs.

The main focus of the parks would be to encourage reverse migration of weavers to their home state.

TSIIC chairman Gyadari Balamallu during an interaction with textile industry management officials said that weavers along with other stakeholders including entrepreneurs in the recent past have migrated to other place.

http://menafn.com/1096460342/India-TSIIC-proposes-small-and-medium-textile-park-for-Telangana
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Bangladesh govt to set up a textile village under PPP initiative

News Tags: Bangladesh government, composite textile mill, dyeing, facilities for production of yarn, finishing, garment making, on 28 acres of land, plans to set up textile village, PPP initiative, project is envisaged, sizing, spinning, Tangail Cotton Mills under Bangladesh Textile Mills Corporation, through public private partnership, washing, weaving

Dhaka
Bangladesh govt to set up a textile village under PPP initiative
Summary: 
The Bangladesh government plans to set up a textile village through a public private partnership (PPP) initiative on 28 acres of land belonging to Tangail Cotton Mills under Bangladesh Textile Mills Corporation (BTMC).

The Bangladesh government plans to set up a textile village through a public private partnership (PPP) initiative on 28 acres of land belonging to Tangail Cotton Mills under Bangladesh Textile Mills Corporation (BTMC).

The cabinet committee on economic affairs recently approved in principle Ramisa's proposal as an unsolicited bidder which the PPP authority scrutinized Ramisa's proposal and it was sent from the cabinet committee on that basis.

http://www.thedailystar.net/business/govt-plans-textile-village-under-ppp-1534402
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