Fluctuating costs and demand cycle impacting their books, several textile companies have either seen a decline in their net profits or seen a marginal rise for the second quarter ended September 30, 2014. Be it textiles, polyester yarn, fabrics or apparel players, several factors including stiff competition in certain products, low capacity utilisation, high inflation, high interest rates and weakened rupee impacted the textile industry. For instance, Raymond Ltd posted a 26 per cent decline

The government has revised downward cotton production target for the second time and set it at 13.48 million bales for the current season (2014-15) against the initial target of 15.1 million bales. The second meeting of Cotton Crop Assessment Committee (CCAC) for the cotton crop season 2014-15 held under the chairmanship of Arshad Farooq Faheem, Senior Joint Secretary Ministry of Textile Industry. The meeting was attended by representatives from Pakistan Central Cotton Committee, Pakistan Co

Falling cotton prices on Wednesday attracted buying from some mills and exporters who indulged in short covering to meet their near-future demand. Higher inventories of raw cotton and cotton yarn with mills domestically as well as globally are keeping prices under pressure. The Karachi Cotton Association (KCA) also cut its spot rates by Rs50, to Rs4,750 a maund. The underlying sentiment continues to be highly weak and uncertain as traders and spinners are cautious, fearing further fall

For each of the three preceding fiscal years, India has overachieved it targets set for textile exports, Minister of Textiles, Santosh Kumar Gangwar said in a written reply to the Rajya Sabha. In fiscal year 2011-12, India exported textiles and apparels totalling to US $32.74 billion as against a target of $28.13 billion for the fiscal year.In 2012-13, they touched $34.93 billion compared to a target of $31 billion and in 2013-14 reached $39.45 billion as against target of $34 billion.In anothe

Textile Minister Santosh Kumar Gangwar on Monday replying to a debate in the Lok Sabha on the Textile Undertakings (Nationalisation) Laws (Amendment and Validation) Bill, 2014, said that government was keen to take the country forward in textile sector. The government will bring in a new textile policy by next month and seek to build more clusters in the country. In his reply to the debate, Gangwar thanked the members for their interest in the issue and wide participation in the debate and

The Punjab-based textile industry has welcomed the government decision of shutting down Rousch Power Plant to divert 85MMCFD gas to textile industry during winter, saying that it will earn $1.2 billion per month foreign exchange through exports of textile products. According to these circles, this step would bring more confidence on the part of investors who are ready to invest billions of dollars in Pakistan's textile industry subject to availability of uninterrupted energy, including elect

For Fakhruddin Amiji, who has the largest apparel factory in Kenya, the key to success is pretty simple. “All they need is price -- they're hunting for pricing,” he says of foreign buyers, mostly from the US, who he hopes will increase the volume of orders they place with him. Things are already going well for Amiji, whose company, Ashton Apparel, is growing and turns over $100 million a year. The business produces denim for H&M, Walmart and others, and he plans to expand his factory work

According to an Indian apex cotton trade body, cotton output in the current season in the country is estimated at 40.55 million bales (of 170 kg each) as against 40.72 million bales in the previous season. At a Cotton Association of India (CAI) hosted conference in Mumbai, CAI president Dhiren Sheth said cotton production which stood at 15.80 million bales in 2001-02 will touch 40.55 million bales in the 2014-15 season.The Indian cotton industry has made rapid strides in several areas like prod

The ginning industry of India is staring at slowdown, on account of subdued demand and disparity in price. According to industry sources, ginning units are running below 65-70 per cent capacity. India's substantial cotton production this year has not translated into good days for ginning sector. Moreover, farmers are reluctant to sell kapas (raw cotton) at the current prices in expectation of higher price for their produce, bringing down the commodity's arrival by 50 percent from last year.

China has decided to pay a subsidy of CNY 2,000 per ton of cotton harvested in the cotton year of 2014/15 to farmers in nine major cotton-growing provinces including Shandong, Hubei, Hunan, Hebei, Jiangsu, Anhui, Henan, Jiangxi and Gansu. In the following years, the subsidies will be calculated based on 60% of the target price subsidies provided to Xinjiang, the largest cotton growing region in China, but the roof of the subsidies is CNY 2,000/ton. Based on the production figures of nine cot