The apparel sector is expecting the spinning mills to cut cotton yarn price. Speaking to Business Line from Delhi, the Chairman of the Apparel Export Promotion Council (AEPC), A. Sakthivel said that the meeting with the Secretary, Ministry of Textiles ended on a positive note. “The Secretary in conclusion conceded that there was an abnormal increase in the price of the cotton yarn and urged the mill sector to cut the price to the maximum at the earliest,” he said. While the timeframe a

Acrylic fibre maker Montefibre SpA will cease operations at the end of April and enter into a financial reorganisation, multiple sources said late Thursday. “They are broke,” said one source. “They haven’t made enough money to stay in business, and the sharks are circling.” Calls on Thursday evening to the Italian company seeking comment were not returned. If Montefibre ceases operations, it will free up about 50,000 tonnes of acrylonitrile (AN) in the European market, sources said. “Dem

Despite the global economic slowdown, the country's export of handloom products may increase by 30-35 per cent this fiscal, according to Panabaka Lakshmi, Minister of State for Textiles, Petroleum and Natural Gas. Last fiscal, handloom exports touched $156 million, she said at a panel discussion on ‘Boosting Market Linkages in the Handloom Sector’, organised by the Assocham Ladies League here today. “Foreign buyers get attracted to the traditional designs and vibrant colours of the fabrics. T

The Bangladesh is often cited as one of the eleven emerging economies of the world. Today, in respect of the global market share, we are number two in the world after China in the manufacture of ready-made garments and have reached the 20 million mark in textile industry. Among other industries, coming up fast in Bangladesh are ceramic, tableware, leather products, pharmaceuticals, shipbuilding, information technology, software development and fresh organic agricultural products. This was stat

Pakistan need to upgrade its textile industry rapidly to catch up with regional competitors that have invested heavily, says APTMA group leader. PHOTO: AFP Textile millers have stressed that the central bank should continue to slash interest rates to at least bring them on a par with regional countries that will give a necessary boost to the domestic industry. Talking to the media here on Wednesday, APTMA Group Leader Gohar Ejaz termed high interest rates a major hurdle in the way of accel

With six months of the current cotton season (October 2012 to September 2013) over, the domestic textile industry feels that this year’s cotton imports may be higher than last year. Apart from 355 lakh balesof domestic production in 2011-2012, cotton imports were 12 lakh bales. The textile mills consumed 244 lakh bales. This year, demand from the domestic textile mills is high, with the mills consuming nearly 22 lakh bales a month. With cotton exports going up, an expected drop in domestic co

The prospects of the spinning industry – an important subsector of the textile industry – are expected to shine for at least another year. The good news came from China, which has decided to continue support cotton prices at home resulting in the continuation of yarn imports from regional countries including Pakistan. The government’s support to the cotton prices in China made it very difficult for its spinning industry to continue manufacturing yarn, thus China is for the most part relying on

A surging New Zealand dollar has undermined wool prices at this week's South Island sale, ending a period of stability. The exporter, New Zealand Wool Services International, says the market remained firm for in-demand wools but the rise in the dollar by more than 2% against the United States currency undercut the rest. Fine crossbred fleece and shears and some coarse crossbred wools sold for 2-5% less. The clearance rate at Thursday's auction was also down, with just over three quarters o

The Chinese textile industry is increasingly paying attention to issues such as energy savings and low environmental impact for production processes–in response to which the Italian textile machinery sector will be presenting its sustainable technology at Nanjing on May 21. The technology seminar organized by ICE–the Italian Trade Promotion Agency, and ACIMIT - the Italian Association of Textile Machinery Manufacturers, will host various machinery manufacturers associated with ACIMIT: Bianco, B

Marks and Spencer reported its fourth quarter trading statement ended March 30, 2013. The group delivered the strongest quarterly sales growth in the last two years. Group sales increased by 3.1 percent, total UK sales increased by 2.6 percent, multi-channel sales increased 22.9 percent. International sales increased 7 percent. Mobile sales grew by over 70 percent on last year. Marc Bolland, Chief Executive, said: “We continue to make good progress in transforming Marks & Spencer from a tra