The demand for wool is continuing to grow in major international markets for imported clothing like the EU and the US. The demand is forecast to grow more strongly in China—the world's largest producer and exporter of woollen clothing and textiles. Increasing domestic consumption of luxury woollen textiles is also a factor pushing wool demand in China. The continuing growth in wool demand has led to increase in the price of wool in Australian dollars since 2014, Senior ABARES economist Dr Ca

The cotton market on Tuesday remained devoid of activity because ginners were reluctant to dispose of their stocks at prevailing prices despite strong demand from spinners. Influenced by soaring world cotton prices, ginners started demanding higher prices as New York cotton touched the seasonal peak of 79.97 cents per pound. Although China released some cotton stocks on Monday, the move failed to check the rising cotton prices worldwide. Indian cotton also recorded fresh gains. However,

Export earnings declined 4.49 percent year-on-year to $2.72 billion in February due to a slowdown in apparel shipments that account for more than 80 percent of national exports. February's receipts were 21.49 percent less than that in January at $3.31 billion, according to data from Export Promotion Bureau. The amount was also 9.64 percent lower than the monthly target of $3.01 billion, data showed. However, overall exports in July-February increased 3.22 percent to $22.83 billion. Appa

Anticipating further slowdown of its economic growth, China has lowered its GDP growth target for 2017 to 6.5 per cent. China's GDP growth has come down from 6.9 per cent in 2015 to 6.7 per cent last year, the lowest in more than 25 years. For 2017, fiscal deficit volume has been set at 2.38 trillion yuan ($345 billion), up 200 billion yuan year-on-year. Announcing the 6.5 per cent GDP growth target, premier Li Keqiang said, China will "pursue better results in actual economic work". It is i

IFC, a member of the World Bank Group, is launching a new programme in Uzbekistan in order to help cotton farmers improve their production efficiency, safeguard the environment, and improve labour practices. This programme is part of an effort by IFC to accelerate Uzbekistan’s economic growth by modernising one of the country's most important industries. The programme will help farmers to improve the quality and productivity of cotton production through the implementation of responsible cotto

Trading on the cotton market was lacklustre on Monday as prices edged higher on the back of short supply. The last week’s bullish trend was no more evident. The higher cotton prices on world’s leading cotton markets also impacted the domestic market, brokers said. The Indian cotton prices surged by Rs400, to Rs44,000 per candy (356 kilograms) while prices on the New York cotton market remained at seasonal high level. According to reports, China entered the world cotton market and sold s

Apparel sales across women, men and children grew by 3 per cent in the US in 2016, to reach $218.7 billion, according to a recent report. Changing consumer needs and an evolving retail marketplace were the drivers behind the apparel industry's overall sales performance last year. The industry had positive overall performance with growth in most categories. The apparel industry of the US has struggled to exceed 3 per cent sales growth since 2013, as significant gains in select consumer and re

The National Development and Reform Commission of China announced late last year that China will offer 30,000 tonnes of cotton per day for sale until the end of August, as Beijing seeks to scale down its large, ageing stockpile. China's textile mills have worked off cotton inventory in the hope of picking up lower-priced fiber when the government in the world's top textile market resumes annual sales of state reserves on Monday even after getting caught short last year. Ye Jianchun, vice p

Pakistan cotton production has been recorded at 10.5 million bales against the set target of 14.1 million bales for 2016-17, missing the cotton production target by around 25 percent. Official sources revealed on Saturday that 10.5 million bales of cotton have been recorded so far and the number may reach 10.6 million bales by end-March (closing time); however, the number surpassed the cotton production of 9.7 million bales recorded during the same period of the last year (2015-16). The co

China has cut its growth target this year as the world’s second-largest economy pushes through reforms to address a rapid build-up in debt and erects a “firewall” against financial risks. The country aimed to expand its economy by around 6.5 per cent, Prime Minister Li Keqiang said in his work report at the opening of the annual meeting of parliament on Sunday. The target was realistic and would help steer and steady expectations, he said. China set a target of 6.5 to 7pc last year and