The weaving units in Pakistan facing heavy financial losses due to import of Indian fabric from Dubai which is still unchecked and the government need to stop this import, said Pakistan Apparel Forum (PAF) chief Jawed Bilwani.
With the textile industry’s strong demand to reduce hank yarn obligation, the Textile Commissioner, Kavita Gupta plans to take up a study of the actual hank yarn requirement in the country. She said that they are also trying to create a data base for different segments of the textile industry.
Regarding the Technology Upgradation Fund Scheme (TUFS), Ms. Gupta said that there was a proposal to modify the scheme and the review was under progress.
The cotton ginning industry facing loss of about Rs 8 crore a day on trading roughly around 80,000 bales every day due to weak prices. There are around 4,500 ginning units in the country, almost half of which are not operational at the moment
An important element of the Trans-Pacific Partnership (TPP) trade bloc, the 'Yarn Forward' agreement - a component part of the Textiles and Apparel section has very specific implications for China, Vietnam and Malaysia. Under this provision, only yarn made by TPP members may be sold onto the TPP markets, which includes producers and consumers such as the United States and Japan.
The Government of Telangana has urged the Centre to increase the minimum support price (MSP) of cotton to Rs.5,000 per quintal, and also to relax norms, quality specifications, while procuring the produce through the Cotton Corporation of India (CCI) as the cotton growing farmers are faced with increasing unrest.
In the fourth week of October, offers for cotton-type staple fiber in China were stable at US$2.11-2.22 a kg while medium-length staple were at US$2.12-2.22 a kg, both rolling over.
Jilin Chemical Fiber’s list prices for 1.5D were down for October at US$2.22 a kg, 3D medium-length at US$2.22 a kg, tow at US$2.30 a kg and top at US$2.44 a kg.
3D bright ASF tow of Taiwan origin was down US cents 7 a kg on the week on the upper end of price range. They had fallen US cents 20 in the previous week.
In the fourth week of October, Asian acrylonitrile markers continued to remain flat at US$998-1,000 a ton CFR Far East Asia and US$964-966 a ton Southeast Asia. In China, spots offers remained unchanged.
Firm propylene prices provided more support to acrylonitrile markets that week along with improved downstream buying interest. Asian prices rolled over firmly.
Run rate in ASF producers was down while ABS market remained stable, although prices inched down in some cases.
Buying interest from acrylamide producers picked up slightly, stimulated by better enduser.
Asian MEG prices inched up US$4 a ton CFR China in the fourth week of October.
In China, nearby-month cargoes were quoted at US$655-660 a ton, and counter offers were at US$650 a ton, with discussions at around US$655 a ton.
Mono ethylene glycol prices were up in Asian markets reflecting the rise in PTA markets while November deliveries were offered flat from spots.
SABIC lowered its November Asian Contract Price nomination for MEG to US$840 a ton, down US$20 from October.
Asian paraxylene marker, the FOB Korea was assessed down US$3 a ton FOB Korea in the fourth week of October while CFR Taiwan/China inched up US cent 0.50 a ton.
In the isomer-xylene market, supply was short but demand amid mute demand.
Paraxylene prices moved in a narrow range in Asian market as South Korean numbers fell while numbers were more firm in China and Taiwan.
Producers were discussions to try out a new way of contract price settlement.
Pakistan government likely to consider reduction in regulatory duty on the import of cotton yarn to benefit the garment sector as the cotton yarn, fabric commercial and value addition sector exporters are now facing 10% regulatory duty on imports from November 1, 2015, a source in the Ministry of Finance has hinted.
The performance of value addition by woven garments sector is 846%, hosiery/knit garments 616% and spinning sector is 59%.
