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    News & Update

    Most counts of cotton yarn stay stable in south India, demand slow



    Admin
    Aug 08, 2022

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    The price of most counts and varieties of cotton yarn remained steady in south India’s markets today, but few counts and varieties lost up to ₹20 per kg. Uncertain market conditions continue to dampen buyers’ confidence. Demand from weaving industry is not likely to improve in this month. Spinning mills are trying hard to keep yarn prices at current levels.

    While many counts and varieties of cotton yarn were traded at previous prices, the price of carded cotton yarn (44/46 count) of warp variety and few other varieties decreased by up to ₹20 per kg A trader from Maharashtra’s Ichalkaranji told Current month is expected to pass without any improvement in prices. The market can improve in August only.”

    In Mumbai market, most counts and varieties of yarn were sold at previous levels. 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,730-1,830 and ₹1,560-1,630 per 5 kg (GST extra) respectively. Carded cotton yarn (44/46 count) of warp variety was traded at ₹1,580-1,600 per 5 kg. 80 count carded cotton yarn of weft variety was sold at ₹1,690-1,740 per 4.5 kg. Cotton yarn buying was very weak in Tiruppur market. However, the prices remained stable as mills were feeling pressure on their margins. Traders and stockists are adopting wait and watch policy. “There were no indications of improvement in demand. Weaving industry is unsure about demand from garment units. The market is not likely to improve in this month

    In Gujarat, cotton prices remained stable amid poor demand from spinners. Buyers are not comfortable with current cotton prices as yarn producers are witnessing sluggish buying from weaving industry. A broker from Gujarat, Chetan Bhojani, said that the demand remained very week, but the prices were hovering at previous level as stocks were also limited. The benchmark Shankar-6 cotton was traded at ₹78,000-88,000 per candy of 356 kg.

    Discalamer: this information has been collected through secondary research and posted by third party therefor textilemarket. In is not responsible for any errors in the same.

     

     

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    News & Update

    Cotton textile value chain urged to focus on quality



    Admin
    Aug 08, 2022

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    The entire cotton textile value chain should strive for excellence in quality, said Roop Rashi, Textile Commissioner, here on Friday.

    Inaugurating a two-day conference on “Cotton Challenges Ahead 2022”, organised by Indian Cotton Federation, Coimbatore, and Indian Cotton Association, Bathinda, she said good quality would strengthen the entire textile value chain. At a meeting of all stakeholders, held last month by Union Textile Minister Piyush Goyal, the focus was on two aspects - increasing cotton productivity and improving quality.

    The challenges faced by the textile sector in the last one year had brought the different segments of the industry together to work for a solution. The Textile Advisory Committee, formed by the Minister, was also looking at short and long-term solutions for issues related to seed, market and branding. She urged the participants of the conference to come out with workable solutions.

    T. Rajkumar, chairman of Confederation of Indian Textile Industry, said yarn prices had slumped in the last two months and textile mills were having yarn stocks. The government and the industry were working on several measures for development of the cotton sector. Tamil Nadu’s cotton production this season (2021-2022) was expected to be almost 10 lakh bales and several buyers from the north were purchasing from here.

    Chairman of Southern India Mills’ Association Ravi Sam said the number of cotton seed varieties should be reduced to 50 from 1,500. There was a need to increase cotton productivity that had reduced to 460 kg of cotton per hectare from 565 kg per hectare in 2013-2014. “It is time for entire textile value chain to join hands with farmers and the government for the development of cotton sector,” he said.

    Atul S. Ganatra, president of Cotton Association of India, added that the Association expected cotton production in 2022-23 season to be 350 lakh bales. It would increase or decrease by 25 lakh bales depending on rain in October. It was difficult to predict price trends as prices depend on demand. “We need to monitor consumption,” he said.

    According to Mukul Dev Tayal, president of Indian Cotton Association, seed was important for cotton and farmers were struggling to get quality cotton seeds. The technology of seeds available now was nearly 20 years old. “The need of the hour is to persuade the government to allow import of technology for seed development and funds for agricultural universities to develop seeds,” he said. K.P. Ramasamy, chairman of KPR Group, M. Ramasami, chairman of Rasi Seeds, and B.K. Patodia, chairman and managing director of GTN Group received Lifetime Achievement Award given away by the Indian Cotton Federation and Indian Cotton Association.

    Discalamer: this information has been collected through secondary research and posted by third party therefor textilemarket. In is not responsible for any errors in the same.

     

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    News & Update

    India-Thailand bilateral textile trade yet to recover after COVID-19



    Admin
    Aug 05, 2022

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    Though competitors in global textile market, India and Thailand also supplement each other for raw materials. Bilateral trade of textile products between the two countries is yet to recover after a dent of COVID-19. Mutual trade of fibre, yarn and fabrics was $255.911 million in 2021. Total bilateral trade touched a record $15 billion last fiscal.

    Recently, India’s minister of state for external affairs Rajkumar Ranjan Singh informed at an event, “Thailand is the fourth largest trading destination for India in the ASEAN region. Bilateral trade between India and Thailand has reached an all-time high of around $15 billion in 2021-22. The Indian market remains attractive for Thai investors.”

    The economic cooperation between the two countries in trade, investment and tourism have continued to flourish during recent years, Singh said at the recently concluded second edition of the North East India Festival, in Bangkok.

    India had exported textile products like fibre, yarn and fabric worth $126.898 million and imported worth $129.013 million in the same category during 2021. Bilateral trade was $260.082 million in 2019 and $188.612 million in 2020 for the same category. It shows slow recovery in the trade after the COVID-19 pandemic. India’s exports of textile products were valued at $174.007 million, and import was valued at $86.752 million in 2019 which totalled $260.082 million. The export of textile products was valued at $118.516 million, and import was valued at $67.096 million in 2020. The total bilateral trade was $188.612 million.  

    India’s export was $64.377 million for fabric, $33.822 million for yarn and $28.699 million for fibre during 2021. It had imported fibre of $69.322 million, yarn of $39.061 million and fabric of $20.629 million from Thailand. It shows that Thailand is mostly dependent for raw materials on India.

    Discalamer: this information has been collected through secondary research and posted by third party therefor textilemarket. In is not responsible for any errors in the same.

     

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    News & Update

    Polyester, PC yarn prices gain on good demand in Indian market



    Admin
    Aug 04, 2022

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    Few counts and varieties of polyester and polyester-cotton yarn were traded higher today in Ludhiana owing to better demand. The hike in price of raw material of polyester staple fibre (PSF) by Reliance Industries Limited (RIL) supported prices of polyester value chain. But ease in freight charges and US dollar may cause decline in PSF prices.

    “Demand improved in polyester and PC yarn market. Domestic market focused Ludhiana market ultimately witnessed better buying. RIL had increased PSF raw material prices due to stronger dollar and other factors. The market leader of PSF and its raw materials had increased prices by up to 2.5 per cent for this week.” However, there was certain degree of uncertainty about the demand in the north Indian market. According to trade sources, container freight charges decreased by about 3 US cent per kg. Weaker dollar may also reduce landed prices of imported PSF and other material. Therefore, polyester value chain can see downward trend in near future.

    In Ludhiana market, few counts and varieties of polyester-cotton and polyester yarn prices improved due to rise in raw material prices and better buying. 30 count PC combed yarn (48/52) was sold at ₹260-274 per kg (GST inclusive) with increase of ₹2 per kg, 30 count PC carded yarn (65/35) was priced at ₹220-230 per kg. 20 count PC (recycled-O/E) PSF yarn (40/60) was traded at ₹180-190 per kg. 30 count poly spun yarn was sold at ₹175-187 per kg. High tenacity recycled fibre was priced at ₹88-92 per kg. The prices of 20 count PC (recycled-O/E) PSF yarn (40/60) increased by ₹5 per kg. High tenacity recycle fibre also gained ₹2-3 per kg.

    Reliance Industries Limited had earlier increased prices of purified terephthalic acid (PTA), monoethylene glycol (MEG) and MELT. The price of PSF remained steady at ₹120 per kg. RIL has fixed prices of raw material as: PTA ₹88.10 (+2.50) per kg, MEG ₹56 per kg (+0.40) and MELT at ₹94.81 (+2.29) per kg, as per tex pro.Meanwhile, cotton prices gained further in north India as arrivals were minimal amid improving demand. According to traders, spot market prices gained ₹100-150 per maund of 37.2 kg. Cotton was sold at ₹8,800-9,400 in Punjab, ₹8,500-9,000 in Haryana and ₹9,250-9,450 per maund in Upper Rajasthan. Cotton was sold at ₹85,000-87,000 per candy of 356 kg in lower Rajasthan.

    Discalamer: this information has been collected through secondary research and posted by third party therefor textilemarket. In is not responsible for any errors in the same.

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    News & Update

    Trade deal with AfCFTA can open vast market for Indian textiles



    Admin
    Aug 01, 2022

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    India can explore vast market for textile products in Africa if it signs a trade agreement. Currently, India exports less than 5 per cent of its textile products to the continent. Recently, India’s commerce secretary BVR Subrahmanyan focused on exploring a comprehensive economic partnership agreement with the African Continental Free Trade Area (AfCFTA).

    Subrahmanyan told the 17th Confederation of Indian Industry (CII)-Exim Bank conclave that Indian officials will engage with African counterparts on the issue so the country can have better access in the world’s largest free trade area.

    Last year, India shipped $0.743 billion of apparel to Africa, which was 4.99 per cent of its total exports of $14.912 billion, In January-April 2022, apparel exports to Africa stood at $231.328 million.

    In home textiles, Africa’s share was 3.81 per cent in India’s total export of $8.782 billion in 2021. The figure stood at $131.690 million in the first four months of this year, as per tex pro. In terms of India’s share in Africa’s import, apparel and home textiles stood at 3.33 per cent and 9.83 per cent respectively during last year.

    Discalamer: this information has been collected through secondary research and posted by third party therefor textilemarket. In is not responsible for any errors in the same.

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    News & Update

    Vietnam Summit to focus on future of textile & apparel industry



    Admin
    Aug 01, 2022

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    Members of Vietnam textile and apparel industry will be gathering in Ho Chi Minh City at the 8th Vietnam textile summit 2022 from September 22-23, 2022. The summit will highlight the latest policy developments in Vietnam’s textile and apparel industry, sourcing strategy, supply chain, digital transformation, labour shortage, sustainability, and much more.

    The two-day conference will include a keynote speech, panel discussion, and other networking activities and will be open to both onsite and virtual participants worldwide, according to the event’s organiser ECV International. Despite the challenges brought about by the COVID-19 pandemic, Vietnam’s textile and garment industry has recorded an export turnover of $8.84 billion in the first quarter of 2022, which is a 22.5 per cent rise over the same period last year. The country’s manufacturers and their partners are exploring various opportunities in the global textile and garment market. Vietnam’s textile exports to major export markets such as the United States, Europe, and Japan have shown positive growth.

    At the same time, many raw materials used in the textile industry are still imported. Other challenges include the labour shortage resulting from the pandemic, post-COVID recovery, climate change, and the volatile trade market. The summit aims to offer valuable insights on the future prospects of Vietnam’s textile and apparel industry to attendees.

    Discalamer: this information has been collected through secondary research and posted by third party therefor textilemarket. In is not responsible for any errors in the same.

     

     

     

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