In China, PC (65/35) 32s yarn prices fell US cents 2 a kg in the first week of April in Qianqing, while 45s PC combed yarn prices were down US cents 3 a kg on the week.
Blended yarn prices declined across Asian markets amid mélange in upstream fibre costs. In China, PV and PC yarn prices declined over large inventory levels and lower fiber prices. However, offers have lesser room to go south in the future.
India exported around 895,000 tons of naphtha to East Asia in March, 60-80% more than in February. March naphtha exports from Europe also appear to have grown around 10% from the prior month reported Japanese general trading companies.
Boost in naphtha exports to Japan and other Asian markets by India is fueling concerns of an oversupply in the region. One cause of the increase in Asian exports is sluggish gasoline demand in India, explains Kenta Kato, head of Mitsui & Co.'s petroleum business office.
Vietnam earned 6.84 billion USD from garment and textile exports in the first quarter of this year, a rise of 11.2 percent year on year, according to the Vietnam Textile and Apparel Association (VITAS).
Currently, Vietnamese garment and textile products have been available in 40 countries and territories over the world, with major markets including the US, Japan, the Republic of Korea, China and the EU.
The government is making special efforts for the welfare of about 20 lakh SC citizens working in handicraft, handloom and sericulture sector and has decided to provide 100% subsidy to SC weavers for the contruction of work-sheds. The announcements were made during an event on 14thApril on the occasion of the birth anniversary of Dr. B.R Ambedkar.
Union Minister for textile, Smriti Irani recently also launched PowerTex India under which 75% subsidy is being given to SC beneficiaries for the upgradation of powerlooms.
Bangkok-based chemicals maker Indorama Ventures Public Co. Ltd, controlled by the Lohia family, is eye to acquire stake in Haldia Petrochemicals Ltd (HPL) having naphtha based petrochemical complex at Haldia. The plant was commissioned in 2000 and the company is one of the largest in India in terms of production capacity.
The Amazon India and Flipkart are already marketing the iconic Tantuja handloom saris for sometime but with the online shopping portal Amazon-US deciding to market Tantuja handloom saris and other products, it is set to go global.
MSME, handloom and textiles minister Swapan Debnath stated that Amazon-United States will sell tantuja sari. This is a new initiative which will promote and sell Tantujas products in the United States.
India's cotton production is projected to grow by two percent to 5.9 million tons while production in China could reach 4.8 million tons in 2017/18 as area expands by three percent to 3 million hectares after five seasons of contraction. After declining by three percent to 5.1 million tons in 2016/17 due to high domestic and international cotton prices, India's mill use is projected to recover by one per cent to 5.2 million tons in 2017/18.
Pakistan’s polyester staple fibre industry struggling for its survival as almost a third of total annual installed capacity of around 800,000 tonnes already closed and moreover its gross margins continue to be under pressure owing to a several factors like cheaper and under invoiced imports from China and volatility in raw material prices.
Handlooms Sector is a part of Textile Industry, the second largest economic activity after agriculture with around 44 lakh Handloom weavers in the country of which 3.90 lakh are Scheduled Caste Weavers. Under the cluster approach, new strategy for promoting production and marketing of high value quality handloom products shall be adopted to ensure more earnings of the Scheduled Caste Handloom Weavers.
All Pakistan Textile Mills Association (APTMA) Senior Vice Chairman Zahid Mazhar with a keen interest to accelerate Pakistan’s textile industry invited Chinese investors to take advantage of the liberal trade and investment policies in the country by entering into joint ventures with Pakistani entrepreneurs in the textile industry.
