FOSTTA | Yarns and Fibers

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Surat textile industry witnesses rise in inventory by 30pc over low demand

YarnsandFibers News Bureau

Related Keywords: economic slowdown coupled with liquidity crisis, fluctuating fuel costs, FOSTTA, last six months, led to subdued demand, low demand for textile products, produced more than buyers demand, SGPA, Surat textile industry, witness rise in inventory

The Surat-based textile industry has been witnessing rise in inventories by 20-30 percent at textile units as the demand for textile products is more or less stagnant since last six months.

Due to economic slowdown coupled with liquidity crisis in the market has led to subdued demand for textile products from the city. Moreover, reduced demand has resulted in buyers keeping less stock with themselves leading to higher inventory for textile makers in Surat, according to industry sources.

Textile buyers keep away from visiting textile city Surat

YarnsandFibers News Bureau

Related Keywords: buyers across India, decrease in trading activities, dress materials, FOSTTA, outbreak of Swine flu, Southern Gujarat Chamber of Commerce and Industry, stopped visiting the markets, Textile city Surat, trading of fabrics

Buyers from across India are keep away from visiting the textile city Surat following the outbreak of swine flu there due to which trading of fabrics, including saris and dress materials, has been affected since the last fortnight leading to almost 50% decrease in trading activities.

Traders from Delhi, West Bengal, Punjab, Haryana and Uttar Pradesh have stopped visiting the markets for bulk purchases.

Transporters, processors urged to reduce charges to make Surti fabrics cost effective

YarnsandFibers News Bureau

Related Keywords: capitalize dwindling oil, dwindling demand, end consumers, FOSTTA, make cost effective, polyester yarn prices, reduce charges, Surat textile traders, surti fabrics, textile markets, textile processors, transporters

The textile traders of Surat's wholesale market to make Surti fabrics more cost-effective for the end consumers across the country have urged the transporters and textile processors to reduce their charges In order to capitalize on dwindling oil and polyester yarn prices.

They have been facing a tough time for the past few month with the supply of fabrics in value terms decreasing by almost 30 percent due to dwindling demand from the key markets such as Delhi, Mumbai, Kolkata, Punjab, Chandigarh, Chennai etc.

Surat man-made textile sector sees dip in daily production due to recession

YarnsandFibers News Bureau

Related Keywords: daily production, dip in sales, ethylene, fall in crude prices, FOSTTA, man-made textile sector, manufacture of polyester, Pandesara Industrial Association, principle ingredient, recession, Surat, textile trader, yarn price

The daily production of man-made fabrics in Surat has gone down from 3 crore metre to 2.3 crore metre in the past 20 days due to recession faced by the industry. Decline in production by at least 20 percent compared to last year, according to market sources.

The yarn prices have become unstable due to the falling crude prices. The principle ingredient used in the manufacture of polyester is ethylene, which is derived from petroleum. Due to this the industry is incurring loss of Rs 4 per metre, said Mahinder Ramoliya, a weaver from Sachin.

Tight verification system to be implemented to curb rising defaults in MMF industry

YarnsandFibers News Bureau

Related Keywords: Diwali Festival, Federation of Gujarat Weavers Association, FOSTTA, man-made fibric industry, textile traders, Weavers

Textile traders and weavers have collectively decided to implement the form system to curb the rising cases of defaults in the country's biggest man-made fabric (MMF) industry.

If a trader in the textile market wishes to buy unfinished fabrics from weavers, he will have to fill in his phone number, address proof and other details in a form and also provide a passport-sized photograph to them.

Surat textile traders to explore opportunity to increase textile trade in Nepal

YarnsandFibers News Bureau

Related Keywords: eye on Nepal, FOSTTA, import duty structure textile trade, labour unrest, MMF sector, Surat textile industry, textile factories in Nepal

Surat textile, India's biggest man-made fabric (MMF) sector has set their eyes on Nepal as a large number of textile factories in Nepal have either closed down or are on the verge of closure due to labour unrest, high taxes, and unclear government policies etc.

The office-bearers of the Federation of Surat Textile Traders Association (FOSTTA) are planning to visit Nepal, their neighbouring SAARC country to explore opportunities to increase the textile trade.

Surti textile traders to market their products online

YarnsandFibers News Bureau

Related Keywords: FOSTTA, Surat Textile Traders Association, Surti textile traders

The Federation of Surat Textile Traders Association (FOSTTA) is developing online directory-cum-website for marketing and promotion of Surti brand fabrics across the country. Around 10,000 wholesale traders from Surat textile markets have registered themselves with the online directory-cum-website for the first time.

There over 155 textile markets on the city's Ring Road and Salabatpura area housing over 55,000 textile shops. The daily turnover of the textile products is pegged at Rs 110 crore.

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