Market Monitor 

June 2019
22
CMAI’S Annual Apparel Index For FY2018-19 Reveals, Growth Has Been Falling Continuously For The Past Five Years. In Fact, Except The First Quarter Of FY2018-19, The Index Values Were Much Lower Than Comparable Quarters In Previous Fiscal (FY2017-18). The Annual Index Value Of FY 2018-19 Dipped To 1.71, The Lowest Ever In Five Years. Comparatively, The Annual Index In FY-2017-18 Was 2.56; In FY-2016-17 It Was 3.43 Points Similarly In FY-2015-16 It Was 5.32 Points And In FY-2014-15 It Was 7.28 Points. In Fact, The Index Has Been Continuously Falling Over The Years. FY2018-19 Was Marked By Low Business Sentiment Even During The Festive Season, Perceived As The Best Time To Make Up For Turnover Losses, Q4-growth-dips-across-brand-groups In-the-fourth-quarter-India-Sector" style="font-size: 12px; color: #00225B; text-decoration: none;" onmouseover="this.style.textDecoration='underline';" onmouseout="this.style.textDecoration='none';">As Buying Is High At That Time Of Year.

The Onus For Fall In The Last Three Years Could Be Attributed To Demonetisation And The Implementation Of GST Which Have Disrupted Market Sentiment And Overall Growth And The Market Has Not Yet Recovered From Their Effects.

Q4 Growth Dips Across Brand Groups
In The Fourth Quarter
, CMAI’S Apparel Index Touched 1.55 Points A Clear Reflection Of Low Growth Compared To Previous Quarter. In Fact, Q4 (Jan-Mar FY 2018 -19) Figures Are Lower Than Previous Quarter’S 1.87. Like Earlier, Small Brands Sales Dipped This Quarter, And Giant Brands At 5.25 Points Reported A Drop In Growth, Compared To Last Quarter’S Index Figure Of 6.00 And Q2s (July-Sept FY 2018 -19) Impressive Growth Of 8.36. Except Large Brands Skyrocketing Growth From 2.06 Points In Previous Quarter To 6.93 Points In Q4, All Other Brand Groups Reported A Dip Over Last Quarter.

Cmal’S Q4 Apparel Index Recorded A Growth Of 1.55 Points


April 2019
121

The Contemporary Breitling Superocean Replica Watch Is Designed To Defy The Harshness Of The Sea And Land. In A World Dominated By Appearance And Speed, The Superocean Makes Its Way Through All The Pretense And Confusions To Build Its Truly Unique Appeal Through Unequivocal Design.


The Watch Has A Modern Design With Stimulating Fun Colors, swiss-replica-watches-safety-valve-balances-the-pressure-inside-and-outside-the-watch.-As-Breitling-has-already-accustomed-us-India-Sector" style="font-size: 12px; color: #00225B; text-decoration: none;" onmouseover="this.style.textDecoration='underline';" onmouseout="this.style.textDecoration='none';">A Chamfered Inner Bezel Surrounding The Dial. This Is Surely A Model With A Powerful Personality. The Self-Winding Movement Is Protected By A Sturdy Stainless Steel Case While A Swiss Replica Watches Safety Valve Balances The Pressure Inside And Outside The Watch. As Breitling Has Already Accustomed Us, This Is A Watch With A Singular Look Matched Only By Its Unequaled Performances.


Introduced In 1957, Breitling First Breitling Superocean Replica Watch Was Water-Resistant To 200 Meters. Nowadays, The Newest Version Of The Watch Has A Water-Resistance Of 1, 500 Meters. Even If It Has Functions Suited For Professional Divers, It Is Still, Mainly Used, As An Everyday Watch. There Is Much To Say About The Superocean, Beginning With Its 42 Mm Case, Which Features A Few Standard Functions Of The Breitling Brand: A Smoothly Rotating Bezel, High-Quality Polishing, And A Complicated Logo Etched On The Back Of The Case. The Bezel Rotates In Only One Direction And Has A Distinctive, Molded-Rubber Ring Insert- Smoothly Inlaid With Four Numerals And Eight Indexes. The Details Are Impressive.


The Watch Is Easy To Use. The Bezel And Crown Guards Do Not Inconvenience The Wearer When Unlocking The Screw-Down Crown And


April 2019
22

Supply Of Paraxylene (PX) In Asia Should Gradually Lengthen As A Result Of PX Capacity Expansion Growth
, Driven By Two Large Production Units Coming On Stream In The Key China Market This Year. Hengli Group’S PX New Capacity Would Stand At Around 4.5M Tonnes/Year, While Zhejiang Petrochemical Corporation Will Be Able To Produce 4M Tonnes/Year Of PX. PX Is A Feedstock For Purified Terephthalic Acid (PTA), Which Mainly Goes Into Polyester Fibres And Polyethylene Terephthalate (PET).

Around 98 Per Cent Of PX Is Used For PTA Or Dimethyl Terephthalate (DMT) Production. China Is The Key PX Demand Hub Globally
, With The Country Being Net-Short And Heavily Reliant On Imports. Furthermore, Global Demand Growth Is Mainly Driven By China, With China’S PTA Production Capacity Standing At Around 57 Per Cent Of Total Global PTA Production Capacity.

In 2017
, China Imported Around 14.4M Tonnes Of PX, While Imports In 2018 From January To November Stood At 14.3M Tonnes. China PX Imports In 2019 Are Expected To Decline From The Previous Year As A Result Of New PX Capacities Being Added Within The Country. Aside From The Two Mega COTC Projects, Sinopec Is Planning To Start Up A New 800, 000 Tonne/Year PX Unit In The Third Quarter Of 2019. The PX Unit Is Located In Hainan, With Mixed Xylenes Being Its Main Feedstock. Towards The End Of 2018, Two Idled PX Capacities Restarted Due To Improved PX Production Margins.

The PX And Naphtha Price Differential Has Risen Above The Three-Year Average Price Since August 2018. Indonesia’S Trans Pacific Petrochemical Indotama (TPPI) Restarted Its 550
, 000 Tonne/Year PX Unit In October 2018. The Unit Had Been Shut Since May 2014. China’S Fuhaichuang Petrochemical, Formerly Dragon Aromatics (Zhangzhou)

March 2019
22
CMAI’S Apparel Index For Q3 (Oct-Dec FY 2018-19) Reveals Growth Rate Was Better Than Previous Quarter But Still Lower Than Expectation. In Fact, Giant Brands At 6.00 Points Report A Dip In Growth, Compared To Q2, When Giant Brands Reported An Impressive Growth Of 8.36. However, Mid--amp;-small-brands-do-better CMAl's-Q3-Apparel-Index-recorded-a-growth-of-1.86-points-India-Sector" style="font-size: 12px; color: #00225B; text-decoration: none;" onmouseover="this.style.textDecoration='underline';" onmouseout="this.style.textDecoration='none';">All Other Brand Groups Have Shown Improvement Over Last Quarter.

Mid &Amp; Small Brands Do Better
Cmal's Q3 Apparel Index Recorded A Growth Of 1.86 Points
, Which Is 1.36 Times Higher Than The Index For Small Brands (Turnovers Of Rs 10 To 25 Crore) At 1.37 Points. Mid Brands (Turnover Of Rs 25-100 Crore), Growth Is 3.32 Points, Almost 1.78 Times That Of Overall Index; At 6 Points Giant Brands’ Growth Is 3.22 Times That Of Overall Index. Like All Previous Quarters Giant Brands Grew The Most In This Quarter As Well. However, Even Though Giant Brand’S Rate Of Growth Is Much Higher Than Others But It Is Not As High As Last Quarter. At 1.86 Points, Overall Q3 Index Is Higher Than Previous Quarter’S (Q2 July-September FY2018-19) 0.18. In Fact, Q3 Index Is Close To Q1 Index Which Was 1.87 Points.

Big Brands Together Have Grown At 3.52 Points, Individually Only Mid Brands Have Shown Some Buoyancy As Large And Giant Brands Grew Less Than Previous Quarter. Much Like Previous Quarters, The Biggest Brand Group, Giant Brands Are Still Leading, Outgrowing Any Recessionary Trends. However


February 2019
22
Early In February 2019, The Cotton Advisory Board (CAB) Revised Its Cotton Output Estimate To 330 Lakh Bales (1 Bale = 170 Kg) From The Previous Estimate Of 335 Lakh Bales For Cotton Season 2019 Beginning October 1, 2018 For The Third Time. This Downward Revision In Production Was Largely Attributed To The Water Shortage Faced By Cotton Crop In Southern States Including Telangana, Andhra Pradesh And Karnataka And Pink Bollworm Attack. There Are Reports That Farmers Have Already Uprooted Their Crop Denying A Chance For Additional Pickings. The Current Year’S Output Estimate Is Lower By About 9.5 Per Cent Y-O-Y Compared With The Output In CS 2018 Which Stood At 365 Lakh Bales.

Cotton Prices Have Come Off Last Season’S High And Are Trending Lower At Rs 125 Per Kg For Shankar-6/Shankar-4 And Rs 117.8 For J-34(Sg) On A Month On Month Basis But Are Still Higher Y-O-Y. Spot Prices On The MCX Have Also Softened. Lower Prices Have Been Attributed To Poor Offtake By Mills, Which Have Excess Yarn Stocks, Amidst Rising Arrivals And Sluggish Exports Due To Slower Demand From China. Further, As Indicated By The Cotlook A Index, International Prices Have Also Softened. However, Cotton-yarn-prices In-line-with-the-cotton-prices-India-Sector" style="font-size: 12px; color: #00225B; text-decoration: none;" onmouseover="this.style.textDecoration='underline';" onmouseout="this.style.textDecoration='none';">This Decline Has Negatively Affected Sentiment As There Are Reports Of Cotton Corporation Of India Having Procured 8.5 Lakh Bales Of Cotton Compared To 3.6 Lakh Bales Purchased In The Similar Period Last Year.

Cotton Yarn Prices
In Line With The Cotton Prices
, The Cotton Yarn Prices Have Also Witnessed Sluggishness During The Period. Further, China Is Importing More Cotton And Less Yarn From India Given The Duty Differential Between The Two. Indian Yarn Exports To China Have Come Down From A High Of 55.8 Thousand Tonnes In June To Just 32.6 Thousand Tonnes In September 2018.

Going Forward, Cotton Prices Are Expected To Rise Marginally And Remain Bound For 2019 After Rising Substantially In 2018. The Current Weakness Is Also Seasonal In Nature. Prices Are Expected To Average At About Rs 125- 127 Per Kg For CS 2018-19. Further, Prices Are Also Expected To Be Supported By Weakened Rupee And Rising Consumption In Both The Domestic And Overseas Markets. Prices Are Also Expected To Be Affected By The Ongoing Trade Talks Between US And China. High Cotton Prices And Competition From Lower Priced Bangladesh Yarn, Domestic Especially The Smaller Yarn Manufacturers Are Expected To Be Affected. However, In Medium To Long Term Decrease In Yarn Demand From China Is Expected To Be Offset By Improvement In Demand From Other Nations.


November 2018
22

CMAI’S Apparel Index For Q2 (July-Sept FY 2018-19) Reveals, Growth Has Fallen To Almost A No Growth Level And Touched 0.18 Points. It Is The Lowest Ever, In Last Five Years. Small Brands Are The Big Losers With Negative Growth Of -1.71 Points. However, Big Brand’S (Mid, Large And Giant Together) Cumulative Growth Of 3.39 Points (Much Lower Than 6.55 Points In The Last Quarter) Also Failed To Pull Up The Index Significantly.

Cmal’S Q2 Apparel Index Recorded A Meagre Growth Of 0.18 Points. It Is 10-Times Higher Than The Index For Small Brands (Turnovers Of Rs 10 To 25 Crore) Which Is -1.71 Points. For Mid Brands (Turnover Of Rs 25-100 Crore), Growth Stands At 1.03 Points, Almost Five-Times That Of Overall Index, Large Brands’ Growth Is 3.61 Points, 20-Times That Of Overall Index. Whereas, Last Quarter Large Brands Growth Was Just Three-Times (2.95 Times) That Of Overall Index. But As Usual, It’S The Giant Brands That Grew The Most At 8.36, 46-Times That Of Overall Index. Giant Brands Have Consistently Been Doing Well Every Quarter, Their Rate Of Growth This Quarter Is Much More Than Others While Being Higher Than The Previous Quarter.

At 0.18 Points, Overall Q2 Index Is Much Lower Than Previous Quarter’S (April-June FY 2018-19) 3.24 Points And Q2 Of Previous Year, Which Was 1.87 Points. While Big Brands Together Have Grown At 3.39 Points


August 2018
22

CMAI’S Apparel Index For Q1 April-June FY 2018-19 Gives Out Positive Signals About A Recovery In The Market. Cumulative Growth Is At 3.24 Points, Which Is Higher Than 2.88 Points Last Quarter; Big Brands (Mid, Large And Giant) Together Clocked In Growth At 6.55 Points (Less Compared To 7.61 Points Last Quarter); Small Brands In Contrast Are Still Lagging With Low Growth At 1.2 Points (Higher Than Last Quarter’S 0.75 Points).

At 3.24 Points, Q1 Index Is Certainly Better Than Previous Quarter’S (January -March FY2017-18) 2.88 Points; And Q1 In The Previous Year (April-June 2017-18) At 2.77 Points. While Big Brands Together Have Grown At 6.55 Points, Individually Mid, Large And Giant Brands Have Grown At 6.33, 5.95 And 8.07 Points Respectively (Previous Quarter Figures Were: 6.26, 8.50 And 10 Points). In Fact, Mid Brands Have Shown Slight Buoyancy And Large And Giant Brands Grew Lesser Than Previous Quarter.

Like Previous Quarters, The Biggest Brand Group – Giant Brands Are Growing The Most, Outgrowing Recessionary Trends. However, Growth Rate Was Moderate This Quarter Compared To Previous Quarters And In The Same Quarter Previous Year When It Grew At 11 Points. Small Brands, At 1.20 Points, Seem To Be Pulling Along And To An Extent Overall Growth Is Being Pulled Down By Smaller Players, Who Are Still Not In A Position To Outsmart Their Business Practices. In Fact


August 2018
22

Supply Of Purified Terephthalic Acid (PTA) In Asia Is Expected To Lengthen In The Second Half Of 2018 As New Capacities Will Start Up In The Major Markets Of India And China, Amid A Slowdown In Demand, According To ICIS, A Leading Petrochemicals Market Information Provider. Major Plants Would Have Resumed Production After Unplanned Outages To Ease The Current Global Supply Tightness That Has Been Driving Up Asian Prices, While Demand Typically Weakens In The Third Quarter.

Asian PTA Prices May Start To Come Under Pressure As Fresh Supply Will Hit The Markets When New Major Regional Plants Start Production In The Third Quarter.

“Market Sentiment Is Currently Pessimistic About The Outlook, However, This Can Quickly Change If We See A Sudden Uptick In Downstream Demand, ” A China-Based Producer Said.

In India, JBF Group’S 1.25 M Tonne/Year PTA Unit In Mangalore Is Expected To Start Up In The Third Quarter, Although The Schedule Is Still Fluid, According To Several Market Participants. In China, Fuhaichuang Petrochemical, Formerly Known As Dragon Aromatics (Zhangzhou), Is Planning To Resume Operations At Its Complex In The Third Quarter Of 2018 After A Prolonged Shutdown.

Its Petrochemical Complex In Zhangzhou Has A 4.5M Tonne/Year PTA Plant Comprising Three 1.5M Tonne/Year Lines, Two Of Which Have Been In Operation Since End-2017. The Company Is Likely To Restart The Third Line Once Smooth Operations At Its Upstream Paraxylene (PX) Unit At The Site Is Achieved

1 2 3 4 5 6 7 

Related News

           Advertise Here [300 W x 250 H pixels]
 

Advertise Here [728 W x 90 H pixels]