Asian paraxylene markers rose US$16.50 a ton FOB Korea and CFR Taiwan/China in the first week of November.
Paraxylene prices in Asian markets were up on the week but down on weekend amid firm demand and PTA futures in China.
Isomer mixed xylene prices dropped on the week.
In Europe, paraxylene spot was up US$5 a ton on the week tracking Asia.
Mixed xylene premium over gasoline rose for both November and December in Europe while paraxylene spot was down tracking Asia.
In order to discuss the demand for increasing import duty on silk, Union Minister of State for Textiles Santosh Kumar Gangwar has invited Karnataka’s Sericulture Minister A. Manju and MP of Mysuru Pratap Simha to New Delhi for the same.
There was a need to discuss the matter with the concerned Ministries as import duty comes under the Union Ministry of Commerce, said Mr. Gangwar.
Mr. Gangwar had to discuss this matter because sericulture farmers in Karnataka faced difficulties after a reduction in import duty on silk.
Oerlikon Manmade Fibers with the product brands Oerlikon Barmag and Oerlikon Neumag is the world market leader for filament spinning systems, texturing machines and BCF carpet yarn, staple fiber spinning as well as nonwovens solutions. At ITMA 2015 held in Milan, Oerlikon Manmade Fibers Segment presents software and internet based control system in the next development stage of its modular Plant Operation Center (POC) that can now captures the complete manufacturing process and is said to represent Industries 4.0, the fourth industrial revolution.
The Central Silk Board Member Secretary H. Nagesh Prabhu speaking to reporters in Mysuru on Monday said that India doubled its raw silk production in the last 10 years from 15,000 tonnes a year to almost 29,000 tonnes a year. With a growth rate of 7.5 percent per annum, silk industry is likely to become self-sustaining by 2020.
The government has raised duty refund rates on a host of items which includes garments to give a supporting hand to exporters. These revised rates are based on average incidence of Customs and Central Excise Duties and Service Tax related with the manufacture of export goods and involve substantial total drawback for exporters.
The Ministry of Finance in a press release on Monday said that the Central Government has notified the Schedule of revised All Industry Rates of Duty Drawback effective from 23rd November, 2015 as the exports drop for the eleventh month in a row in October.
Bannari Amman Spinning Mills, established in 1995 has a capacity of more than 140,000 spindles has received its board's approval for setting up a new Garment Unit in Palladam Hightech Weaving Park, Palladam in Tamil Nadu to produce knitted Garments under the business name ‘Accel Apparels’.
The expected project will involve investment to the tune of Rs 30 crore and it is expected to start production before the end of December 2015 and plans to run at full capacity between May 2016 and August 2016.
Government to promote handloom and indigenous textile industry and to stay in the competitive global market has taken a well planned marketing strategy, which is important apart from other essential prerequisite. There is hope among the weaver community on the steps taken by the government but there is still lot more to be done in order to improve both our social status and product demand.
Karl Mayer, the leading warp knitting machinery manufacturer, in addition to providing direct, personal customer consultancy/advice, two innovative online services are now available for mobile devices, the KARL MAYER CHECK PARTS app, and the KARL MAYER CONNECT app – for rapid communication between user and company is being premiered at ITMA exhibition taking place in Milan.
The Technical Education and Skills Development Authority (TESDA) Director General Irene Isaac announced that the agency together with Philippine Textile Research Institute (PTRI) will start developing the curriculum for a training program for the handloom weaving industry. With the training program they aim to breathe fresh life into the weaving industry, seen as a sunset industry and at the same time providing a source of income to families.
Pakistani value added textile exports have witnessed declined by 13.42 percent in the first quarter of the current fiscal year due to increasing cost of doing business besides increasing electricity and gas charges.
Further, instead of withdrawing 2 percent sales tax on exports, the government has increased sales tax on exports by 50 percent in the last budget 2015-16. If the sales tax imposed on the exports is not withdrawn the value added textile exports would further decline by approximately 20 percent.
