In an otherwise slow trading on the cotton market on Friday, the first advance deal of phutti (seed cotton) from next crop (2015-26) was reported from Sindh. The undertone remained firm but outlook was uncertain. The last three days’ brisk activity was no more evident as buyers withdrew to the sidelines on higher asking price by ginners. It is a temporary withdrawal from buyers as they do not want prices to move higher, brokers said. Cotton analyst Naseem Usman said the market should have

The Fast Retailing Group reported a rise in revenue but a fall in profit in the first half of fiscal 2016, or the six months from September 1, 2015 to February 29, 2016. Consolidated revenue increased 6.5 percent year-on-year, while consolidated operating profit totalled 99.3 billion yen (914.4 million dollars) representing 33.8 percent decline year-on-year. Following the results, the Group has slashed its full-year earnings outlook for the second time. Consolidated profit before income taxe

The monthly average of March 2016 of the CEPEA or ESALQ Index for cotton type 41-4 was 4.96 per cent lower at 2.4497 BRL ($0.662) per pound than the average of February, 2016. For exports contracts, according to Cepea collaborators, weak international demand and the drop of export parity were slowing down business. Cotton prices dropped in the Brazilian market in March. Oscillations in the international cotton prices and dollar drove some sellers out of the market. Aware of that posture,

The Transpacific Trade Partnership (TTP) is a natural threat for the Indian textile industry as exporters from TPP member countries (of which India is not a member) tend to get preferential access to the US market, but textile industry of India can still touch the export target of $300 billion by 2025 with focused trade policy supply and by moving up the value chain, according to the secretary of Indian Texpreneurs Federation (ITF) D Prabhu. TPP may not take away the country’s textile and clo

At the conference held in Sydney Australia this week to discuss the latest wool trands, innovation and what the future will bring for the industry, a large contingent of Chinese delegates as well as buyers and sellers from all over the world, including Argentina, Uruguay, Italy and New Zealand were in Sydney. Wool production is at a 70 year low globally, but is still out-performing most other commodities. According to International Wool Textile Organisation chairman Chris Wilcox, global deman

Towel Manufacturers Association of Pakistan (TMA) Chairman Farrukh Maqbool has said that towel exports can be increased if accumulated refund of sales tax amount is released to this sector. He stated this while addressing a press conference here. On the occasion, Moin A Razzak, Mehmood Rangoonwala, Mehtabuddin Chawla, Syed Usman Ali and Ali Raza said that TMA had set up an impressive pavilion in TEXPO-2016 where a number of foreign buyers including Qatar, Saudi Arabia, Japan, Argentina and

The cotton market witnessed renewed buying interest on Wednes­day as many spinners rushed back to replenish their inventories in front of dwindling cotton stocks and short supply of quality lint. Though there was no new development which could have induced buyers, rapidly falling cotton stocks held by ginners resulted in some panic buying from spinners who were running short of supplies, brokers said. The crisis-ridden textile industry is currently passing through difficult period as t

The Bangladesh government has revised the cash incentive scheme for the fiscal year of 2015-2016, raising the rate of incentive for textile products export to the Eurozone area and leather goods. According to a circular, the government increased the rate of cast incentive for export of textile products to the Eurozone area to six per cent from the current four per cent. The sector gets cash incentive as an alternative to the duty bonds and duty drawbacks facility. The rate of cash incen

An 11-member delegation of China Chamber of Commerce for Import and Export of Textile and Apparel (CCCT) will visit Pakistan to explore possibilities to production their units in the China Pakistan Economic Corridor (CPEC) economic zones through joint ventures with local companies. The delegation will also attend Texpo Fair which is scheduled to be held from April 7 to 10. Chief Coordinator Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Ijaz A. Khokhar told th

At a conference hosted by the Vietnam Textile and Apparel Association (Vitas) recently, economic expert said that Vietnamese businesses in the field of garment and textile material have been showing lack of interest due to low profit margin and long payback period. They forecast that Vietnam now has 5,028 garment and textile businesses while the number of material suppliers is only 604. The material deficiency has created which is unlikely to improve in the next five years. At the same ti