Bangladesh jute goods manufacturers and exporters fear that they would lose market in India as the government has imposed anti-dumping duty on imports of jute and jute products from Bangladesh to protect local industry. Anti-dumping duty will be applicable to jute yarn, twine (multiple folded/cabled and single), hessian fabric, and jute sacking bags. Currently, Bangladesh exports 26.24% of its total jute and jute goods to Indian market. In the last fiscal year, Bangladesh earned $919.58 mi

Textile mills are hoping the fourth quarter of the financial year will be better than the demonetisation-affected previous one because of the textile ministry's reprieve reducing the initial payment for the cotton procured. As first-time payment, firms now need to shell out 10% of the price if the procurement is 3,000-30,000 bales (one bale=170 kg), as against 20% earlier. It is 15% for procurement below 3,000 bales, and 20% for 30,000 bales or more. Union Textile Minister Smriti Irani has

In a major decision to arrest the declining cotton production in the province owing to multiple factors, the Punjab government imposed on Saturday Section 144 of the Criminal Procedure Code to prevent the farmers from sowing cotton crop before April 15 this year. The provincial agriculture department in its media advisory to the cotton growers has issued warning that the cotton crop which will be sown before April 15 will be wiped off by the field officials and action will be initiated agains

As Pakistan slowly emerges from a long-term power crisis, its once booming textile sector is scrambling to find its feet - but high energy costs and a decade lost to competitors mean recovery is far from assured. Energy production was severely depressed for more than 10 years due to chronic under-investment, inefficiencies in the power network and an inability to collect sufficient revenue to cover costs. The result was crippling for manufacturers and in particular the textile sector, whic

Following a 35 per cent increase in cotton prices in 2015, Brazilian cotton prices continued to rise in 2016, in which they grew 22.6 per cent over 2015. Cotton prices were primarily driven by low cotton supply in the local market from an unexpected crop failure in the 2015-16 season, while firm demand also pushed up quotes in the last four months. In 2016, the highest monthly average for the CEPEA/ESALQ Index, with payment in 8 days, for cotton type 41-4, delivered in São Paulo was BRL 2.740

State Bank of Pakistan (SBP) Governor Arshad Wathra on Tuesday reiterated the government’s resolve to revive the textile industry and pledged unequivocal support for all the stakeholders. While addressing the Senate Standing Committee meeting on Textile Industry held here at SBP office, he asked the representatives of the banking sector to play their due role in rehabilitating the textile industry by extending loans to the exporters. He further said that it was a moral responsibility of th

State Bank of Pakistan (SBP) Governor Ashraf Mahmood Wathra said on Tuesday the central bank will extend all kinds of support to the stakeholders of the textile industry. He said this at a meeting of the Senate Standing Committee on Textiles that took place at the SBP headquarters to discuss the problems faced by the textile industry and seek proposals for its sustainability. Besides members of the committee, representatives of major banks of the country also attended the meeting, accord

World cotton production in 2016-17 is projected to rise by 8 per cent to 22.8 million tons, which may put pressure on cotton prices in the latter half of the ongoing 2016-17 season. World ending stocks may fall by 7 per cent to 18 million tons in 2016-17, though stocks outside of China are expected to grow by 6 per cent to 8.7 million tons. The current season started with a large shrinkage in stocks, particularly from countries in the Southern Hemisphere, which saw ending stocks in 2015-16 f

THE yuan weakened again yesterday against the US dollar while the market responded calmly to new rules on tighter inspection of Chinese residents’ purchase and transfer of foreign exchange. The yuan closed at 6.9557 against the greenback in the onshore market in Shanghai on the first trading day of the new year, down 0.13 percent from last Friday’s. The weakening followed the lower guidance rate the People’s Bank of China set at 6.9498 per US dollar yesterday, down from 6.9370 it set last

India is projected to produce nearly 345 lakh bales of cotton in the crop year 2016-17 owing to better weather conditions, according to the Cotton Association of India (CAI). The country’s cotton production touched four crore bales during 2013-14, and fell to 386 lakh bales and 338 lakh bales in crop years 2014-15 and 2015-16, respectively. Improvements in productivity during the current crop year are expected due to favourable weather conditions in the cotton growing regions of India, said