Textile exporters show displeasure with a rise in polyester prices

Related Keywords: All Pakistan Textile Mills Association, basic textile raw materials cotton and PSF, cotton, domestic polyester manufacturers, entire textile export value chain, global market players, man-made textile products, manmade textiles, polyester fiber chain, Polyester prices, polyester staple fibre, PSF, PTA and PSF plants, PTA plant, raw materials, synthetic market, Textile exporters, yarn manufacturers

Lahore
Summary: 
The yarn producers have urged the government to reduce import duties on the import of PSF from existing 7 percent to 2 percent as polyester prices have almost doubled in the last year. The meeting was also of the view that one of the main causes of the non viability of domestic polyester fiber chain is the protection extended to the obsolete PTA plant over the last 25 years. The import duties on its raw materials are zero yet the finished product PTA is being given protection of 6 percent despite making huge profits which is a big reason for the predicament and non viability in the export market of Pakistani produced manmade textiles.

The yarn producers have urged the government to reduce import duties on the import of PSF from existing 7 percent to 2 percent as polyester prices have almost doubled in the last year. The meeting was also of the view that one of the main causes of the non viability of domestic polyester fiber chain is the protection extended to the obsolete PTA plant over the last 25 years.

https://nation.com.pk/18-Aug-2018/increase-in-polyester-prices-irks-textile-exporters
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Domestic polyester fibre and yarn manufacturers give a sigh of relief due to the government's decision to raise customs duty on their import to encourage Indian producers

Related Keywords: apparel, fabrics, Filatex, import of manmade fibres, man-made filaments, man-made staple fibre products, nylon spun yarn, polyester, polyester filaments including shirting, polyester manufacturers, polyester staple fibre, polyester value chain, suitings and sarees, Textile Industry, textile value chain, Viscose staple fibre, woven fabrics

Mumbai
Summary: 
Filatex plans to increase its production capacity by nearly 90,000 tonnes to 237,000 tonnes for FY 2018-19. A similar capacity expansion was planned by other polyester manufacturers as well. Polyester prices have moved in a narrow range over the last few months following crude oil prices. Data compiled by the Confederation of Indian Textile Industry (CITI) showed $1.6 billion worth of man-made filaments and man-made staple fibre products imported into India during the financial year 2017-18. Besides fabrics, import of manmade fibres (MMF) and MMF yarns have also sweeped since June 2017 when the goods and services tax (GST) was implemented. Import of polyester staple fibre (PSF) and viscose staple fibre (VSF) had increased by 5 per cent and 20 per cent respectively during the financial year 2017-18 including a similar increase in imports of other products in the polyester value chain.

Filatex plans to increase its production capacity by nearly 90,000 tonnes to 237,000 tonnes for FY 2018-19. A similar capacity expansion was planned by other polyester manufacturers as well. Polyester prices have moved in a narrow range over the last few months following crude oil prices. Data compiled by the Confederation of Indian Textile Industry (CITI) showed $1.6 billion worth of man-made filaments and man-made staple fibre products imported into India during the financial year 2017-18.

https://www.business-standard.com/article/economy-policy/1-6-bn-respite-for-indian-polyester-fibre-and-yarn-manufacturers-118072100507_1.html
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VSF's global demand has been growing at a CAGR of 6% compared with cotton's 1% and polyester staple fibre's 2%, making Grasim invest in the VSF business

Related Keywords: Aditya Birla Group, caustic soda, cotton, fibre demand, Grasim, international designers, Liva Fabric, polyester, polyester staple fibre, power and steam and carbon disulfide, pulp requirements, sustainable fibre, Viscose staple fibre, VSF plants

Mumbai
Summary: 
The company plans to spend ₹4,257 crore of the ₹13,327 crore of capital expenditure towards brownfield expansion and debottlenecking of VSF plants.

The company plans to spend ₹4,257 crore of the ₹13,327 crore of capital expenditure towards brownfield expansion and debottlenecking of VSF plants.

Mr. Agarwal said that, “Our manufacturing input of caustic soda, power and steam and carbon disulfide are fully captive and we have control over 60% of the pulp requirements.”

Grasim has ensured control over 80% of the costs through backward integration, giving it an important competitive advantage over nonintegrated players.

http://www.thehindu.com/business/Industry/grasim-aims-at-leadership-in-viscose/article23980908.ece
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Rs 1,000 crore polyester staple fibre unit in Odisha by IOC and MCPI together

Related Keywords: drawn texture yarn, full drawn yarn technical textiles, garments trade, in industrial textile, Indian Oil Corporation, MCPI, petrochem facility in the state, polyester staple fibre, PSF capacity

New Delhi
Summary: 
The unit is scheduled to come up on 200 acres at Dhamnagar in the state’s Bhadrak district and it will source raw material from Haldia in West Bengal and have a 108 kta (kilo tonnes per annum) PSF capacity. It will also produce 180 kta of drawn texture yarn (DTY) and 36 kta of full drawn yarn (FDY) mainly used as technical textiles, which find broad use in industrial textile and in the garments trade.

The unit is scheduled to come up on 200 acres at Dhamnagar in the state’s Bhadrak district and it will source raw material from Haldia in West Bengal and have a 108 kta (kilo tonnes per annum) PSF capacity. It will also produce 180 kta of drawn texture yarn (DTY) and 36 kta of full drawn yarn (FDY) mainly used as technical textiles, which find broad use in industrial textile and in the garments trade.

This is the second such downstream petrochem facility in the state, where IOC is also setting up a plastic park at Paradip close to its refinery.

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Vietnam plans to raise import tax on PSF from zero to 2pc

Related Keywords: facing harsh competition, from zero to two percent on PSF, imported fibre, Indian textile and apparel exports, Ministry of Industry, plans to increase import tax, polyester staple fibre, PVTEX, Trans-Pacific Partnership, Vietnam domestic fibre manufacturers, yarn-forward rule of origin

Hanoi
Vietnam plans to raise import tax on PSF from zero to 2pc
Summary: 
The Vietnam domestic fibre manufacturers have been facing harsh competition from imported fibre. The Ministry of Industry with the aim to rescue and encourage domestic production has plans to increase import tax on polyester staple fibre (PSF) from zero to 2 percent.

The Vietnam domestic fibre manufacturers have been facing harsh competition from imported fibre. The Ministry of Industry with the aim to rescue and encourage domestic production has plans to increase import tax on polyester staple fibre (PSF) from zero to 2 percent.

The Ministry plans to raise tax on staple fibre, coded 55.01, 55.02, 55.03, 55.04, 55.06 and 55.07, which are currently enjoying a zero tax rate.

http://vietnamnews.vn/economy/269879/govt-to-impose-import-tax-on-psf.html
PSF
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Import of synthetic textile from China poses a major risk to Indian synthetic textile industry

Related Keywords: anti-dumping duty, Chemical and Petrochemicals Manufacturers Assocication, import from China, key raw material, PFY, polyester staple fibre, Purified terephtalic acid, synethetic textile fibre, Synthetic textile product

New Delhi
Import of synthetic textile from China poses risk to Indian synthetic textile
Summary: 
India has witnessed a surge of synthetic textile products imports from China after imposing an anti-dumping duty on a key raw material Purified terephtalic acid (PTA) which is used for making synthetic textile fibre, said Chemicals and Petrochemicals Manufacturers Association on Friday.

India has witnessed a surge of synthetic textile products imports from China after imposing an anti-dumping duty on a key raw material Purified terephtalic acid (PTA) which is used for making synthetic textile fibre, said Chemicals and Petrochemicals Manufacturers Association on Friday.

India imposed anti-dumping duties in the range of $19.05-117.09 a tonne on purified terephtalic acid from China, Korea, the European Union and Thailand. This was after a plea by Reliance Industries Ltd and Mitsubishi’s MCC PTA India Corporation.

http://www.thehindubusinessline.com/economy/chinese-synthetic-textile-imports-surges-after-antidumping-duty-levy-on-pta/article6468975.ece?utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS_Syndication
PTA
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