Relentless buy­­ing was witnessed in quality cotton on Wednesday as spinners remained focused on first-grade cotton to accumulate maximum quantity before the end of first picking. The smooth flow of phutti (seed cotton) also assisted buyers who remained focused towards quality cotton, brokers said. However, some small mills also purchased lower-grade cotton, they added. Steady world cotton markets were another factor which kept buyers active. The New York cotton market touched a se

The orders index for textile machinery recorded an increase for the third quarter of 2016, thanks to positive sales figures abroad, a survey carried out by the Association of Italian Textile Machinery Manufacturers (ACIMIT) showed. For the period from July to September 2016, the overall order intake increased by 16 per cent compared to the same period last year. The third quarter value for 2016 stood at 101.1 points (2010 basis = 100). However, this growth applies to foreign markets only, whe

World ending stocks of cotton are forecast to decrease by 7 per cent to 17.8 million tons at the end of 2016-17 as China continues to reduce its stocks. Ending stocks in China, where much of the excess stocks are held, dipped 13 per cent to 11.3 million tons as the government sold over 2 million tons from its reserves from May through September 2016. From 2009-10 to 2014-15, world ending stocks increased by 140 per cent and reached a world record of 22.2 million tons. In 2015-16, the drop in

Bangladesh apparel makers want to form a single entity to oversee safety and workers rights issues in the clothing industry after the expiry of ongoing safety assessment by the global buyers platforms. Currently, RMG factories are being inspected by Alliance for Bangladesh Worker Safety, Accord on Fire and Building Safety in Bangladesh and the National Initiative to improve workplace safety in the apparel industry. The tripartite inspection will end in June 2018, which started in mid-2014

Textile and leather, which are labour-intensive industries, are facing the heat of centre's decision to demonetise the Rs 500 and Rs 1,000 currencies. Companies are not able to pay wages to workers and not able to procure raw materials. While agreeing that the centre's move will stream line the system, it will increase the cost of doing business. Tirupur Exporters Association(TEA) welcomed the government's move, but requested to allow withdrawal of higher amount, based on the average amoun

The Union Textiles Ministry will hold a special meeting with various states to seek their views and suggestions for the new Textile Policy, since it is important to consult states for successful implementation. The new policy aims to garners $300 billion in textile and apparel exports by 2024-25, while also creating an additional 35 million jobs. “The relevant suggestions from the states will be vetted by the Textiles Ministry and take into the final draft of the policy, after which a cabinet

The cotton market remained firm on Monday on steady flow of buying orders from spinners and some exporters. Much of the activity, however, concentrated around quality cotton on fear of shortage in the coming weeks. The world cotton markets gave mixed trend with New York cotton staying steady but Indian and Chinese markets gave easy trend. The local market behaved on domestic dynamics with much of buying taking place in quality cotton, brokers said. The textile continues to exert pressure o

Bangladesh Securities and Exchange Commission yesterday gave the green light to Shepherd Industries to raise Tk 20 crore from the public. The sweater yarn manufacturer will float two crore ordinary shares of Tk 10 each through initial public offering (IPO), the stockmarket regulator said in a statement. The company will use the IPO proceeds for setting up a washing plant, purchasing machinery for the washing plant, expanding the effluent treatment plant and repaying bank loans. The comp

Vietnam’s garment and textile export in the first nine months this year posted the lowest growth rate for the last ten years, reported Vietnam Textile and Apparel Association (Vitas). The down growth rate has been caused by import reduction from some major markets of Vietnam where have met with economic difficulties and the Britain’s exit from the EU. Other reasons comprise unstable exchange rate, high loan interest rate and minimum wage increase. These all have highly increased prices in

Pakistan is swiftly losing its share of world leather market to regional countries because of higher cost of production, as the leather exports have declined by 18 percent on average in 2015-16. Pakistan Tanners Association North Zone Chairman Azam Malik lamented that Pakistan’s share of leather and leather products export is limited to just 0.5 percent in world market for the last many years despite having fourth largest livestock population with over 180 million cattle in the world. Comp