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Related Keywords: affected local firms, apply for five years, bilateral trade, extended higher levies, file complaint with WTO, impact producers from China and India, Indonesian Textile Association, Indonesian yarn of man made staple fibers, major textile manufacturers, over antidumping measures of Turkey, PT Indorama, PTA, Sirtex, Trade authority of Turkey

Trade authority of Turkey last week extended higher levies on Indonesian yarn of man-made staple fibers, which are to apply for five years following a recent review. The duties, ranging from 25 cents to 40 cents for each kilogram of yarn, have affected more than 20 local firms, including major textile manufacturers PT Indorama and PT Sri Rejeki Isman (Sritex).

Besides Indonesia, the expanded tariffs, particularly at higher levels, are likely to impact other producers, including China and India.

Related Keywords: CITI, excise duty, increase in demand, manmade fibre, MEG, mono ethylene glycol, per capita consumption, PTA, Purified terephthalic acid, synthetic fibre, Textile Industry

Globally, manmade fibre accounts for 70 percent of the fibre consumption while in India; it is less than 30 percent. The Indian textile industry to boost use of synthetic fibre want reduction in excise duty on all manmade fibre and filament from the existing 12 percent to 6 percent. As reduction in excise duty in manmade fibre will lead to increase in demand.

Related Keywords: CITI, excise duty, finished products, import raw material, Indian Department of textiles, Indo Rama Synthetics, issue of duty rationalization, make in India’ programme, man made fibre, PTA, taxed heavily, TUFS, with the PM

This is for first time that the Indian department of textiles has taken up the issue of “duty rationalization” with the PM, although it has noted that the approvals of other ministries are key to making such plans a reality. At present, man-made fibres attract a 12% excise duty while cotton fibres attract none. Similarly, imports of some of the raw materials for producing man-made fibres are taxed heavily and those of their finished products are taxed lower.

Related Keywords: custom taxes, joint ventures and investments, Preferential Trade agreement, PTA, technical committees, textile fair scheduled, Turkey and Iran, uniform customs clearance

The Preferential Trade Agreement (PTA) concluded between Turkey and Iran came into force on Jan.1, the customs taxes imposed on 265 products will be lowered by a great degree with some of the customs taxes imposed on certain products to almost zero percent.

Related Keywords: Bombay Yarn Merchants Association, crude oil, domestic synthetic yarn maker, Makarand Appalwar, Monoethylene Glycol, PTA, synthetic yarn, Textile mills

Domestic synthetic yarn makers forced to reduce prices, thereby incurring loss over the inventory with continual fall in prices of crude oil and key polyester yarn raw materials such as monoethylene glycol (MEG) and purified terephthalic acid (PTA).

Related Keywords: crude oil price, Indian yarn makers, MEG, polyester raw material, PTA, Reliance Industries Limited, rise in raw material price, South Gujarat Textile Processors Association, synthetic yarn, yarn price

The two key raw materials Purified terephthalic acid (PTA) and mono-ethylene glycol (MEG) used in making synthetic yarn although have remained low globally but in India the same have risen by Rs 10-15 per kg in recent past and have remained at high levels putting Indian yarn makers' margins under pressure.

Related Keywords: anti-dumping duty, Indo Rama Synthetics, Mitsubishi Chemical, polyester fiber and yarn, polyester producers, PSF manufacturers, PTA, PTA User Association, Purified terephthalic acid, raw material, RIL

The decision of purified terephthalic acid (PTA) producers like Reliance Industries Ltd (RIL) and Mitsubishi Chemical to increase prices by a steep Rs 2,100 a tonne from August 1 - just a week after the new government imposed anti-dumping duty on the product despite stiff opposition from the user lobby have added yet another chapter to their long-drawn battle.

Related Keywords: domestic yarn market, Indian polyester yarn maker, MEG, polyester yarn raw material, PTA, Southern India Mills' Association, Suryalakshmi Cotton Mills

Indian polyester yarn makers are witnessing drop in their margins by about 10-15 percent due to rise in raw material prices by Rs.10-15 a kg in the domestic market. In the domestic market, polyester yarn raw materials prices stand at Rs 115-120 a kg, against Rs 100 a kg three months ago. Prices in the international market stand at Rs 110 a kg.

Related Keywords: Commerce Ministry, Designated Authority, import of PTA, polyester chips, provisional anti-dumping duty, PTA, revenue department, Textile

The provisional anti-dumping duty on the recommendations of the Designated Authority in the Commerce Ministry on June 19, the revenue department has imposed anti-dumping duty will be valid for a period of six months.
 
The anti-dumping duty imposed on July 25 ranging from $ 19.05 to $ 117.09 per metric tonne depends on the producer and country of export.
 
The provisional anti-dumping duty imposed on purified terephthalic acid (PTA) imports from China, Thailand, European Union and South Korea.
 

Related Keywords: Antidumpting duty, PTA, synthetic fabric

With the central government imposing anti-dumping duty last week on the import of purified teraphthalic acid (PTA), a raw material for the production of polyester chips which in turn are used to manufacture polyester filament yarn, polyester staple fibre and polyester film. The levy of anti-dumping duty will lead to increase in the prices of polyester yarn and subsequent rise in the prices of synthetic fabrics like saris and dress material. The prices of synthetic fabrics are set to increase by nearly 15 percent.