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Related Keywords: cut production, hit powerloom unit, yarn price

Sharp increase in yarn prices have hit the powerloom units very badly and most of suppliers have now decided to cut production by downing their shutters once in a week to stay in the business by avoiding huge losses.

"We are trying our best to clock a handsome business ahead of Diwali. But, we are finding it difficult to meet the orders as yarn prices have gone up," said K Suresh, president of Erode Powerloom Owners Association (EPOA).

Related Keywords: decline in arrivals of seed cotton, Domestic textile activity, gain speed, ginning factories, kapas, Pakistan cotton crop, Pakistan Cotton Ginners Association, Pakistan cotton market, ready cotton business, seedcotton price, stable and steady condition, yarn price

Cotton market in Pakistan witnessed stable and steady condition over decline reported in the arrivals of seedcotton (Kapas /Phutti) into the ginning factories over the last week or ten days. However, early next week, with the pick up of seedcotton arrivals, market to resume normal pace due to which both in Sindh and Punjab the ginning operation will also gain speed, as per traders.

Related Keywords: Cotton market, cotton price, fine quality, lowering price, official spot rate, Pakistan cotton market, Pakistani ginners, seed cotton rates, surplus cotton, trading activity, yarn price

With Pakistani ginners not lowering prices of fine quality and the official spot rate remaining unchanged at Rs 4,850, no visible change was seen in the present outlook on the cotton market on Thursday.

Trading activity came down as ginners were not ready to oblige the mills because rates offered by mills were not matching with their psychological levels. Cotton analyst, Naseem Usman said that overall sluggish trend in the world market is also an adding factor behind the falling business.

Related Keywords: acrylic fiber, adjusted with Cotton price, Benetton, brand GAP, H&M, holding cotton, Indian spinning companies, largest manufacturer, not great, Peter England, sewing, third quater, Uniqlo, Van Heusan, Vardhman Textile, yarn, yarn price

Vardhman Textiles is among India's largest manufacturers of yarn, sewing threads & acrylic fiber. It manufactures for brands like GAP, H&M, Uniqlo, Benetton, Wills, Van Heusen, and Peter England.

According to Neeraj Jain, Joint Managing Director, Vardhman Textiles the third quarter results are not expected to be great and revenue could be in single digits or early double digits as compared to around 18 percented reported in Q2.

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.

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: cotton prices, cotton yarn, Indian Shanker variety, Indian spinners, Pakistan cotton market, Pakistan spinning industry, yarn price

Lower cotton prices have bailed out the spinning industry to some extent and some closed units likely to resume production. However, industry experts said that the impact of lower cotton and yarn prices is likely to be visible only after the release of the export figures of September, this come into sight on Wednesday.

Related Keywords: China, coarser and medium count, Confederation of Indian Textile Industries, cotton price, EU, Indian yarn shipment, lesser demand, Pakistan GSP plus status, plunge, SIMA, yarn export, yarn price

Indian yarn shipment plunged to about 100 million kg in April and, according to industry estimate, further to 90 million kg each in May and June, after clocking average monthly exports of about 120 million kg in 2013-14, which was 33% more than the previous year.

In the first quarter ended June, yarn exports witnessed decline by about 20% year-on-year, with China reducing its fabric production due to which lesser demand from China, there has been an impact on yarn imports.

Related Keywords: polyester fabric, powerlooom weavers, Surat MMF sector, yarn consumption, yarn price

Surat the country's biggest man-made fabric (MMF) sector has the highest consumption of yarn material as the entire MMF industry is depended on it for weaving polyester fabrics but the rising yarn prices are holding back weavers from purchased it.
 
The powerloom weavers in Surat have stopped the purchase of yarn material following the steep increase in the prices by the yarn spinners by almost 20-25 percent in the last few days following the rise in the crude oil price due to Iraq crisis.
 

Related Keywords: Garment exporter, knitwear sector, yarn price

The increase in yarn prices has come as a blow for the knitwear sector and garment exporters, as it will be difficult for same to reach the target set. They have urged the Union Textile Minister K Sambasiva Rao to intervene in reduction of yarn prices raised by spinning mills.

Tirupur Exporters' Association (TEA) President A Shakthivel in a letter to Union Textile Minister K Sambasiva Rao said that despite appeals from the mills associations, spinning mills refused to concede their requests and justified the increase in yarn prices.