The number of trucks carrying jute and jute goods into India through the Benapole land port sharply declined after New Delhi imposed a high antidumping duty on the imports of the goods from Bangladesh. India on January 5 slapped the antidumping duty on imports of jute and jute goods from Bangladesh and Nepal to “protect the domestic industry”. For Bangladesh, the duty ranges between $19 and $352 per tonne. Only 10 trucks of jute goods have been exported through the port in the last five da

The Seam, a commodities trading and agribusiness software provider has partnered with IBM to form a blockchain consortium for the global cotton industry. The company intends to lead an industry-wide collaboration initiative to create a supply chain and trading ecosystem built on IBM blockchain technology, specifically using the hyperledger fabric. “This new technology will be transformational for the cotton industry... There are numerous organisations, processes, systems and transactions inv

The leather and footwear sector forecasts that its export earnings can reach 18 billion USD this year, up more than 10 percent from 2016, while manufacturing index would grow by 5 percent. According to experts, orders for footwear and bag processing may be diverted from factories in China to those in Vietnam. The shift is attributable to China’s cut back on incentives for investment in garment and footwear sector to focus on high technology. Another factor is the Vietnam-European Union fre

As the country slowly emerges from a long-term power crisis, its once booming textile sector is scrambling to find its feet, but high energy costs and a decade lost to competitors mean recovery is far from assured. Energy production was severely depressed for more than 10 years due to chronic under-investment, inefficiencies in the power network and an inability to collect sufficient revenue to cover costs. The result was crippling for manufacturers and in particular the textile sector, which

EU knitted fabric importers are continuing to focus their sourcing overwhelmingly on Turkey, China, and South Korea, according to data released by the European Apparel and Textile Confederation (Euratex). With their low production costs, fabric expertise, and advantageous free trade agreements, these countries offer key benefits as a sourcing destination. “Turkey and China are clearly competitive markets as they still have low production costs,” said a spokesperson for Euratex. “Furthermor

A new high-tech clothing factory has opened in the city of Pohar, southwest Russia, by the regional government of Bryansk, which will boost demand for technical textiles worldwide, potentially boosting Russia’s hard-pressed textile sector. The Bryansk oblast operates the plant, which started operations in October, through an affiliated company, in which it shares control with private investors. The factory is equipped with modern equipment and technologies, designed to make specialist garm

Garment 10 Corporation JSC (GARCO 10) is targeting a 6 per cent rise in revenue in 2017 compared to last year, its general director Nguyen Thi Thanh Huyen said. The company aims to earn a revenue of VND3.1 trillion (US$136 million) and make a profit of VND62.5 billion in 2017, Huyen said. To achieve these objectives, GARCO 10 will take initiative and adopt austerity measures, besides prioritising product quality, improving labour productivity and enhancing corporate governance. The comp

As Pakistan slowly emerges from a long-term power crisis, its once booming textile sector is scrambling to find its feet - but high energy costs and a decade lost to competitors mean recovery is far from assured. Energy production was severely depressed for more than 10 years due to chronic under-investment, inefficiencies in the power network and an inability to collect sufficient revenue to cover costs. The result was crippling for manufacturers and in particular the textile sector, whic

Bangladesh jute goods manufacturers and exporters fear that they would lose market in India as the government has imposed anti-dumping duty on imports of jute and jute products from Bangladesh to protect local industry. Anti-dumping duty will be applicable to jute yarn, twine (multiple folded/cabled and single), hessian fabric, and jute sacking bags. Currently, Bangladesh exports 26.24% of its total jute and jute goods to Indian market. In the last fiscal year, Bangladesh earned $919.58 mi

Textile mills are hoping the fourth quarter of the financial year will be better than the demonetisation-affected previous one because of the textile ministry's reprieve reducing the initial payment for the cotton procured. As first-time payment, firms now need to shell out 10% of the price if the procurement is 3,000-30,000 bales (one bale=170 kg), as against 20% earlier. It is 15% for procurement below 3,000 bales, and 20% for 30,000 bales or more. Union Textile Minister Smriti Irani has