In November, US$6.5 million worth of PV yarns were exported from India, down 49.5 per cent YoY with volumes at 2.33 million kgs, down 52 per cent YoY. Turkey continued to be largest importer of PV yarns from India followed by Iran with total volume at 1.3 million kg worth at US$3.66 million.
Iran, USA, Pakistan, Russia and Egypt were the fastest growing markets for PV yarns while Sri Lanka and South Africa significantly reduced its import of PV yarns from India.
In November, 5.4 million kg of PC yarns was exported from India, down 21.6 per cent YoY which was worth US$14.6 million, down 12.6 per cent YoY. Bangladesh and Brazil were the largest importers of PC yarn from India in November followed by Egypt. The top three countries accounted for 31% per cent of the total PC yarn export value.
Latvia, Guatemala, Honduras, Bahrain and Latvia were the fastest growing markets for PC yarns while Venezuela and Poland significantly reduced its import of PC yarns from India.
Benzene prices soared across regions in December but showed moderation later amid weaker demand in China. In US, spot benzene moved up to 16-month highs due to rising Asian numbers, a strong derivative styrene market and low benzene fixtures to the US. In Europe, benzene spot moved up during the month. Asian marker, FOB Korea surged 18% in December and declined 5.9% YoY. US spot prices rose 16.7% while it fell 7.3% YoY as compared to previous year’s average. European spot was up 22.6% on the month while it fell 3.5% YoY.
OCM Private Limited, India’s leading fabric manufacturer launches its first exclusive franchise fashion store called ‘Impressions’ in New Delhi’s Rajouri Garden market. Speaking on the launch, Vice President and Head-Global Sales, OCM Private Limited, Vikram Mahaldar said that they are working towards providing the best in design and styling to the new age customer and customers seeking a superior shopping experience.
India’s 100% man-made fibre yarns export was at 5 million kg in November, comprising 2.28 million kg of polyester yarn, 2.15 million kg of viscose yarn and 0.59 million kg of acrylic yarn.
Polyester yarn exports were down 9.9 per cent in value while viscose yarn exports value surged 67.7 per cent during the month. Acrylic yarn exports declined 28 per cent in November. Unit price realization was down US cents 6 a kg for polyester from a year ago and that of viscose yarn fell US cents 35 a kg. Acrylic yarn unit price realization rose US cents 50 a kg year on year basis.
India’s viscose yarn export in November was valued at US$7.1 million or INR47.2 crore, rose 67.7 per cent YoY while volume surged 50.2 per cent at 2.15 million kg, implying average unit price realization of US$3.32 per kg.
They were exported to 22 countries with Belgium at the top worth US$2.14 million. It was followed by Bangladesh with imports worth US$1.03 million. Both these markets accounted for 43.6 per cent of all viscose yarn exported in November.
Turkish-Qatar textile factory named Sur Textile Factory, a joint venture between Sudanese and Qatari ministries of defence and Turkish businessmen opens in Khartoum, Sudan. Sudanese President Omar al-Bashir, HE the Minister of State for Defence Affairs Dr Khalid bin Mohamed al-Attiyah, and Turkey’s Defence Minister Fikri Isik, inaugurated the new phase of Sur military and civilian clothing factory.
The factory aims to provide high quality military, logistic and civilian products to the Middle East and Africa following global standards.
Radhamani group, Mumbai based textile producer and exporter has launched apparel brand Rare Rabbits’s four stores in India. Rare Rabbit, a premium men’s apparel brand, started as a concept store in UB City mall in Bengaluru in September 2015. The success of the brand prompted the company to three more outlets in India – Chennai, Bhopal and Amritsar.
Another three outlets at Surat, Mumbai and Kochi will be operational next week. The company plans to add 31 more by the end of March 2018.
Arvind, one of India’s leading integrated textile players and also one of the largest denim manufacturers in the world with exposure to both textile and apparels segments. The company plans to focus on its garment business to increase its margin. Arvind is looking to increase the share of fabric sold as garments from 6% now to 20% in the next few years.
Pakistan, the world’s fourth largest cotton producing country but interminable power and gas cuts have stopped exporters from producing their orders on time. Many have watched helplessly as their clients have instead turned to Vietnam or Bangladesh.
A third of the production capacity of the textile sector has disappeared, thousands of factories have closed, and most of the others are running below full capacity, said Rehan Bharara, a former loom owner who now runs a public infrastructure project for the textile industry.
