The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Narendra Modi has given its approval for the increase in the minimum support price (MSP) for raw jute for 2017-18 season to protect the economic interests of the farmers. It has been increased to Rs 3,500 per quintal for 2017-18, an increase of Rs 300 (9.4 per cent) over the previous year. During last three years (2015-16, 2016-17 and 2017-18), government has increased the MSP for jute from Rs 2,700 to Rs 3,500 (29.6 per cent) as

Profitability of Indian yarn spinners may come under pressure due to various challenges like high raw cotton prices, while demand for cotton yarn is expected to remain moderate. Under the circumstances, spinners may opt to reduce capacity utilisation or contribution. Hence, their profitability is likely to remain under pressure in the near future. "Other than profitability pressures, higher cotton prices will lead to higher working capital requirements and in turn higher borrowings," a news

Azerbaijan expects to see a real growth in cotton production, as the government has focused on giving a new life to this industry. At the recent conference on the development of cotton-growing in Azerbaijan, President Ilham Aliyev said that the government has been providing large state support to cotton growing since last year. Cotton sowing has begun in the Agdam region of Azerbaijan and currently cotton is sown on an area of 500 hectares. Overall, they have planned to plant an area of 3,000

Trading session at Punjab and Sindh stations, cotton prices remained firm, according to traders at the Karachi cotton market. While the Karachi Cotton Association (KCA) spot rate remained intact at Rs 6,750 per maund with better lint remaining in focus. Shrinking stocks of better quality forced buyers to pay premium prices on deals and domestic sellers also began demanding slightly higher prices. Ginners from Punjab offered quality cotton to buyers - above Rs 6,800 per maund - while ginner

The market for nonwovens for the automotive industry is forecast to continue to grow, with China being the driving force, but clever producers will diversify their product lines to include filters, experts at the Nonwovens for High-performance Applications (NHPA) conference in Prague heard. Held on 7-8 March, the event presented a study by Transportation Management Systems (TMS), concluding that while there is growth in auto nonwovens, demand is not all about cars. In 2010, China becam

Authorities of HCMC will streamline procedures for household businesses to upgrade themselves to companies as part of a broader plan to have 500,000 enterprises registered citywide in 2020. The city will cover all fees for enterprise registration and conditional business licenses, help household businesses with tax code registration procedures, provide advice on trademark registration, create favorable conditions for enterprises to borrow from banks at low interest rates and support their sal

China's imports grew faster than exports in the first quarter, resulting in a 35.7-percent shrinking of trade surplus, customs data showed Thursday. Exports in yuan-denominated terms rose 14.8 percent year-on-year in the first quarter, while imports increased 31.1 percent. Foreign trade volume reached 6.2 trillion yuan (about $902.47 billion) in the first quarter, up 21.8 percent year-on-year, with a surplus of 454.94 billion yuan. Customs data reflected an improved structure of trade

Cotton crop, once called 'king' in Georgia, has the potential to compete with synthetic fibres and will continue to be economically and environmentally feasible in the future, according to a new University of Georgia survey. The survey was intended to find out current status of cotton production and whether its impact on environment can be minimised. The survey of the cotton industry was carried out by Shannon Parrish, a former graduate student at the UGA Tifton campus, for her master's degre

The 14th China International Polyester & Intermediates Forum will focus on topics pertaining to the polyamide industry. The event to be held in Shanghai from July 12-14, 2017, will cover themes like paraxylene, PTA/MEG, polyester filament/staple fiber, polyester chips of fiber/bottle grade, etc, as well as futures market among other things. The organisers China Chemical & Fiber Economic Information Network (CCFEI) and Tecnon OrbiChem have invited relevant government institutions, indu

Experts said the China-backed Belt and Road Initiative will create fresh business opportunities for the world, as well as tangible benefits. A seasoned lawyer in serving Belt and Road projects, Sean Prior, counsel at the law firm Mayer Brown JSM, is upbeat about the prospects of the initiative. "For the last few years, I have done a lot of work with Chinese developers and financiers in Asia, including Bangladesh, Pakistan and the Philippines, and all my clients from those countries agree