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Related Keywords: advises government on pricing policy, Agriculture Ministry, boost jute production, Commission for Agricultural Costs and Prices, cultivation declining in recent years, inflationary trends, major farm produces, Niti Aayog pitched for marginal increase, proposed hike in MSP, raw jute, statutory body, Textile Ministry

The Agriculture Ministry in order to boost jute production has proposed hike in minimum support price (MSP) of raw jute because its cultivation has been declining in the recent year.

In the Cabinet note, Agriculture Ministry has proposed an 18.5 percent increase in jute MSP to ₹3,200 a quintal for 2016-17, which is in line with the CACP’s recommendation, according to sources.

In 2015-16, the jute support price was fixed at ₹2,700.

Related Keywords: Abdul Matlub Ahmad, Bangladesh Garment Manufacturers and Exporters Association., garment makers in Bangladesh, garment warehouse in Gujarat, garment warehouse in west Bengal, President FBCCI

According to Abdul Matlub Ahmad, President FBCCI, garment makers are no longer looking to set up warehouse in Gujarat but looking at West Bengal due to its proximity to Bangladesh. Abdul Matlub, who was lobbying the government for warehousing space in Gujarat, stated that facility in Gujarat will not be beneficial for Bangladesh due to the long distance. Further, the government is more interested in allocating land for setting up factories, rather than warehousing stated Siddiqur Rahman, president of Bangladesh Garment Manufacturers and Exporters Association.

Related Keywords: Cotton Advisory Board, cotton harvest in india, cotton price in india, cotton prices, cotton production in India, us cotton futures

Cotton markets in India continued to reel under demand pressure. Weak demand from mills remained sluggish pushing cotton prices down by about 3% or INR1,000 per candy of 355 kg over the week. According to reports, prices also declined due to poor export demand. Cotton exports in December were good but reversed in January, giving back the fibre to domestic mills. Traders believe that prices will decline further by another INR500 a candy in coming weeks.

Related Keywords: New Zealand wool, sheep population in new Zealand, wool importers in china, wool markets, wool prices

Wool prices in New Zealand held firm at auction this week although buyers from China were absent due to the Lunar New Year holidays. China is country's largest export market. 35-micron wool price, a benchmark for crossbred wool used for carpets and accounting for the majority of New Zealand's production, rose to NZ$5.81 a kg at combined North and South Island wool auctions, from NZ$5.74 a kg last week. This also implies a 14% increase over the year. About 83% of the 12,024 bales of wool on offer were sold.

Related Keywords: declined, declined by hundred rupees per maund, domestic mills facing payments problems, import of cotton and yarn, KCA, local cotton markets in Pakistan, Pakistani millls form India, Plenary meeting of ICAC, price of better quality of lint, prices of lower grades of seed cotton, spot rate, textile circles, Trading activity slow

Trading activity on the local cotton markets in Pakistan has been slow as a tight money market in Pakistan with several domestic mills reported to be facing payments problems. Indeed imports of cotton and yarns by Pakistani mills, significantly from India, have also been reported. Textile circles reported that the industry has been in trouble since a long time now.

Inappropriate tax laws, delay in refund payments and continuing energy shortages like gas and power have been largely hampering the functioning of the Pakistan textile industry.

Related Keywords: beef up US apparel exports to China, bricks-and-mortar stores, Chinese shoppers, Chinese websit, formed strategic partnership, launched Moonbasa USA branch, Made in USA, Moonbasa, OTEXA, promote US apparel brand, twenty US clothing brands on website, US department of commerce, want Amercian clothing labels

Moonbasa, a Chinese website that came online in 2007, launched its Moonbasa USA branch last year to promote U.S. apparel brands to Chinese shoppers who are hungry for American clothing labels. The website has formed a strategic partnership with the U.S. Department of Commerce—through the Office of Textiles and Apparel—to get the word out about U.S. brands and beef up U.S. apparel exports to China.

In Pakistan, spun polyester prices remained stable in the last week of January, as yarn producers refused any further reduction. Inventories were reduced by stronger domestic and export sales. 30s spun polyester prices inched up US cents 4 a kg on the week.

In India, polyester yarn prices moved in different direction. They remained flat in Ludhiana and fell further in Indore.

Polyester yarn 30 knitting yarns prices remained unchanged in Ludhiana market while they further fell INR1 a kg (down US cents 2 also due to weak INR).

Related Keywords: Polyester prices, polyester yarn prices, psf prices, spun yarn prices, yarn prices in china, yarn prices in India, yarn prices in Pakistan

Asian PTA markers regained US$5 a ton CFR China and CFR Southeast Asia in the last week of January.

In China, offers were maintained at US$550-555 a ton, and counter offers were between US$530-540 a ton, with both stalemated.

Yisheng Petrochemical’s cash-based daily prices were up US$8 from previous week while Hengli Petrochemical issued self-lifting offers which were up US$10 a ton on the week.

Purified terephthalic acid markets in Asia continued to fluctuate in a narrow range during week, as crude oil price picked up slightly throughout the week.

Related Keywords: Polyester prices, pta price in China, pta price in US, PTA prices, purified terephthalic acid prices

Related Keywords: chemical and raw material manufacturers, commit to phase out eleven chemical classes of concern, dyeing and finishing firms, Italian textile suppliers, joined Greenpeace Detox campaign, Prato textile district, represent supply chain, twenty companies signed up, yarn and fabric producers

Italian textile suppliers from Prato textile district have joined the Greenpeace Detox campaign, which commits them to phasing out 11 chemical classes of concern, by 2020. The 20 companies who have signed up with Greenpeace represent several levels of the supply chain, including chemical and raw material manufacturers, yarn and fabric producers, and dyeing and finishing firms.

According to Greenpeace, they are responsible for the production of more than 13,000 tons of yarn and raw materials and over 13m metres of fabric per year.

Related Keywords: acrylic yarn exports of India, acrylic yarn exports worth, man-made fibre yarn exports of India, polyester yarn exports of India, polyester yarn exports worth, polyester yarn import in Turkey, polyester yarn markets for India, spun yarn exports of India, spun yarns export worth, viscose yarn exports of India, viscose yarn exports worth, viscose yarn import in Bangladesh, viscose yarn markets for India

100 per cent man-made fibre yarns export from India was at 6.1 million kg in December 2015, down 19.63 per cent as compared to December 2014 and the total comprised 2.90 million kg of polyester yarn, 2.53 million kg of viscose yarn and 0.68 million kg of acrylic yarn.