The government may further revise cotton production target downward and set it at 13 million bales for the current season (2014-15) against the initial target of 15.1 million bales, following early termination of the crop, it is learnt. Official sources revealed to Business Recorder that second meeting of the Cotton Crop Assessment Committee (CCAC) for the cotton crop season 2014-15 will be held in the last week of the ongoing month. The government had earlier fixed cotton production target fo

A major crisis is brewing in the cotton sector in India, with a bumper harvest coinciding with a drastic cut in imports by China, the biggest buyer of the crop. And with global cotton prices plunging, farmers here are a worried lot as the huge investments they made in expanding the area of cotton cultivation in recent years would fail to pay off. Last week, key ministers of the government were busy in meetings, trying to evolve a policy to bail out millions of farmers whose livelihood is sudd

Bangladesh needs to address the challenges of energy, skilled human resources and poor infrastructure promptly to reach the target to export apparel items worth $50 billion by the end of 2021, industry insiders said yesterday. “Poor infrastructure is the main challenge to the growth of our exports. It takes about one day to transport goods from Gazipur or Narayanganj to Chittagong Port,” said Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA). He

Ample availability of domestic cotton, poor condition of yarn prices, downturn in global commodity prices including cotton and weakening economic growth in many parts of the world have all bunched together to depress fibre prices. In Pakistan, prospects of better cotton output than originally anticipated have also contributed to an easy outlook for cotton prices. Since nearly one week, cotton prices in our market have mostly remained range bound. According to Karachi brokers, seed cotton (Kapa

Textile sector associations have threatened a massive protest campaign and sit-ins from Nov 15 if the proposed plan to suspend gas supply to industry in Punjab is not reversed soon. Rejecting the four-month long gas closure plan, representatives of textile associations said the industry will continue 33 per cent gas consumption for industrial production, spokesperson for Pakistan Textile Exporters Association (PTEA) said on Wednesday. Attended by office-bearers of PTEA, Faisalabad Chamber

Chinese silk company uses APEC platform to highlight global plans Riding on the back of endorsements from global leaders during the Asia-Pacific Economic Cooperation leaders' meeting in Beijing, Chinese silk major High Fashion Silk (Zhejiang) Co Ltd is looking to spread its reach beyond the nation and enhance its standing as an icon of Chinese culture, a company official said on Tuesday. High Fashion Silk, a leading woven silk and knitting fabric producer from Xinchang in Zhejiang province

Cambodia on Wednesday raised the controversial monthly minimum wage for garment workers by 28 percent, a decision likely to infuriate unions seeking a higher increase and revive calls for strike programme. Cambodia deployed armed troops in the capital in September as garment workers held rallies to revive a campaign for higher wages that had helped to stoke a year-long political crisis. Sixteen members of the Labour Ministry’s Labour Advisory Committee voted for the government-proposed minim

Textile associations have rejected the four months long gas closure plan and urged the government to immediately reverse this gas supply cut decision. Textile associations asked the government to reverse the proposed gas cut plan within two days. While addressing a joint press conference of Pakistan Textile Exporters Association (PTEA), Faisalabad Chamber of Commerce and Industry (FCCI), Pakistan Hosiery Manufacturers and Exporters Association (PHMA), All Pakistan Textile Mills Association (

A compact cotton yarn manufacturing company will be set up on 40 bighas of land in Habiganj in the next one and a half years at an approximate investment of Tk 150 crore. The new venture, Far East Spinning Industries Ltd, will be the first company that will completely manufacture compact yarn. It will have 25,000 spindles with a production capacity of 14 tonnes of high quality yarn per day, said a top official of the firm. Compact yarn is a value-added product that reduces dyeing, finis

The textile industry of Iran needs to form a network of marketing and sales units in factories, as the industry has a high value for finished products and can maintain a working capital for producers, according to Golnaz Nasrollahi, General Director, Department of Textile and Clothing Industry, Ministry of Industry, Mines and Trade, IRNA reported. She emphasized the managerial role of producers in the textile market and how producers throughout the world offer their products to the consumers