THE yuan weakened again yesterday against the US dollar while the market responded calmly to new rules on tighter inspection of Chinese residents’ purchase and transfer of foreign exchange. The yuan closed at 6.9557 against the greenback in the onshore market in Shanghai on the first trading day of the new year, down 0.13 percent from last Friday’s. The weakening followed the lower guidance rate the People’s Bank of China set at 6.9498 per US dollar yesterday, down from 6.9370 it set last

India is projected to produce nearly 345 lakh bales of cotton in the crop year 2016-17 owing to better weather conditions, according to the Cotton Association of India (CAI). The country’s cotton production touched four crore bales during 2013-14, and fell to 386 lakh bales and 338 lakh bales in crop years 2014-15 and 2015-16, respectively. Improvements in productivity during the current crop year are expected due to favourable weather conditions in the cotton growing regions of India, said

Cotton growers of New Mexico in the US will learn new techniques in cotton production at the New Mexico Cotton Growers Association Conference. It is an opportunity for cotton farmers to enhance knowledge on production practices and also improve their connections for easy business. The event will be held on January 11 at Ruidoso Convention Centre, New Mexico. This year’s conference will also focus on various important aspects including cotton nutrition and fertilisation, disease management, co

By quoting export figures from the Pakistani textile industry, All Pakistan Textile Mills Association (APTMA) chairman Aamir Fayyaz informed that textile exports continued to remain gloomy for the 2016 calendar year. He said exports from the sector dipped by a further $600 million this year, primarily due to the high cost of doing business. According to Fayyaz, as per the current trend, overall Pakistani exports are also forecast to decline $1.2 billion, due to which an impetus is required fr

China's GDP growth is expected to fall solidly in the target range of 6.5 percent to 7 percent as both official and private data point to a stabilizing economy. China's manufacturing sector continues to expand, with the purchasing managers'index (PMI) hitting a 47-month high in December, a private survey showed Tuesday. The Caixin factory PMI, based on surveys of small and medium enterprises, came in at 51.9 in December, up from 50.9 in November, according to the survey by financial info

Textile companies have started adopting water saving technologies as Bangladesh is one of the highest water consuming countries for washing and dyeing fabrics. Garment factories use more than 250 litres of water for washing and dyeing one kilogram of fabrics while the global best practice is 70 litres. Bangladesh's textile mills consume 1,500 billion litres of groundwater a year for washing and dyeing fabrics, according to a report -- Bangladesh-The Netherlands: 50 years of water cooperati

In its latest report, credit rating investment agency ICRA is projecting that weak export demand and higher cotton prices will hurt profitability of Indian cotton spinners. ICRA has forecast this trend, as Indian cotton prices are 17 per cent higher from a season ago period, although this is just the beginning of the Indian cotton season. “Normally cotton prices soften at the beginning of the season, but prices have firmed following slower cotton arrivals, due to demonetisation and also due t

China may have been the first country to make fabric using silk fibre, says a recent study. This new analysis is most likely to help Chinese scientists get insights about early silk production in the region as well as advance the study about the Neolithic civilisation by about 4,000 years. There was a lack of evidence to prove the existence of silk, so far. The research conducted by the University of Science and Technology of China was published in the international academic journal Plos One

Total cotton output in 31 autonomous regions and municipalities in China, including the main cotton producing province of Xinjiang, decreased by 4.6 per cent or 260,000 tons in 2016 compared with that in 2015. This decrease was despite the increase in yield per unit area, according to a bulletin released by the National Bureau of Statistics of China. The Bulletin on the National Cotton Output in 2016 is based on the result of nationwide statistical survey in 31 Chinese provinces. The cotton s

With the recent growth in the Chinese garment industry there is a demand for yarn due to which Vietnam’s cotton industry likely to see uptick. Vietnam’s cotton imports to increase in the first few months of 2016-17. It is estimated that imports will experience an increase of 18 percent. The Chinese garment industry has thrived on the demand from the US and Europe for cheaply manufactured clothes. In China this industry focuses on produces finished textile goods, which explains the demand for