Falling cotton prices attracted buying on Tuesday from some needy spinners who rushed to replenish their stocks. Floor brokers said fall in US dollar’s value against the rupee forced many ginners to unload their stocks in a hurry because import parity of cotton improved. According to market sources, a fall of Rs1.80 in dollar’s value during the last two days has made cotton import more feasible with a price fall of around Rs120 per maund. However, the situation continued to be uncertain

Cotton consumption will rise 10 percent to more than 1 million tonnes in Bangladesh this fiscal year on the back of higher demand from garment makers and favourable government policies for the textile sector, said the International Cotton Advisory Committee. In its latest report released last week, the ICAC said cotton consumption in Vietnam, one of the major competitors of Bangladesh in global apparel trade, will rise 20 percent to 1.1 million during the period. The ICAC, based in Washing

A Pakistani business leader has sound an alarm over reduced cotton output that could threaten the livelihoods of millions of farmers and the country's largest textile industry, according to newspaper reports. “The cotton output has been estimated to remain under 10 million bales as around 40 per cent crop has been damaged in Punjab only, “said Mian Shahid, Chairman of the United International Group. He said that government should immediately probe the failure through an independent commiss

The yarn-forward rule of origin under the Trans Pacific Partnership (TPP), which requires TPP countries to use yarn produced from a TPP country in textiles to qualify for duty-free access, is expected to increase the export competitiveness of Malaysia's textile industry. Higher demand for yarn produced in TPP countries is also expected to spur textile companies to expand their upstream yarn operations in Malaysia, which are higher value-added than downstream garment production, according to a Pw

The new phase of the China-Africa cooperation will now focus more closely on getting Chinese investors to provide financial support and investments across all African regions. They will focus on strengthening their cooperation to boost manufacturing output in key economic sectors of textile, electronics and car assemblies, a top Chinese official said last week. As part of China’s efforts to improve on multilateral cooperation with key African countries will now intensify the construction of

Demand from China may not see a rebound as normally it buys more than 50 per cent of India’s shipments. But Pakistan has, so far, contracted to import one million bales (170 kg each) of cotton from India after the crops there were affected by floods, according to Dhiren N Sheth, president of the cotton association of India (CAI). Pakistan is buying more cotton from India as both the quality and quantity of the crop has come down. Pakistan’s cotton production is expected to drop 25 per cent t

China's foreign trade in November dropped 4.5 percent year on year to 2.16 trillion yuan (US$337 billion), the ninth consecutive monthly decline, official data showed Tuesday. Source: Xinhua.

The Maharashtra Government has initiated measures to revive the textile industry in the state, according to a newspaper report. Chief Minister Devendra Fadnavis said the textiles industry has the potential to offset unrest in the agriculture sector on which almost 55 per cent population depend for livelihood. He dismissed the argument that the textiles industry is dying and said his Government plans to promote textile industry as the second largest sector. He said big players would have to sh

After witnessing four months of successive highs, the average cotton price for November was recorded below that in October, according to Cepea, a research centre of the University of São Paulo. During November, cotton prices in the Brazilian market were pressured by sales that prevailed over purchases, Cepea said on its website. “In general, industries were retracted and liquidity was low. Trades closed were, basically, for small batches to meet demands in the short-term.” In November, th

Union Textile Minister Santosh Gangwar in his written reply in the Lok Sabha, citing estimates of the Cotton Advisory Board stated that the exports from India for 2015-16 are likely to see increase by about 18 per cent compared with the previous fiscal year. The minister further added that during the cotton year of 2014-15 (from October 1, 2014 to September 30, 2015), 57.72 lakh bales of raw cotton were exported as against 116.96 lakh bales during the cotton year of 2013-14. The decline