India's biggest denim fabric producer and Sanjay Lalbhai led Arvind Ltd's consolidated net profit soared 27 per cent year on year at Rs 74 crore for the first fiscal quarter ended June 30, 2016. In a BSE filing, the company said its consolidated revenue also rose 18 per cent to Rs 2,104 crore in the reporting quarter compared to Rs 1,787 crore in the comparable quarter of prior fiscal. Arvind added that its textiles business continues to deliver a strong performance as it continues to purs

After declining in the first fortnight of July, Brazilian cotton prices started regaining lost ground and started increasing in the second fortnight of July. Cotton availability in the spot market fell in mid-July, although harvesting of the 2015/16 crop was steady and firm, thereby pushing up cotton prices. “Keeping an eye on international price rises, Brazilian cotton sellers pushed for quicker deliveries in the domestic market, leading to a quickening of pace in cotton trades,” CEPEA sa

The Ministry of Jute and Textile has decided to send a letter to the Prime Minister’s Office, and the power, energy and mineral resources ministry requesting them not to increase gas price for captive power generation for textile industries. The decision came from an inter-ministerial meeting presided over by state minister for jute and textile Mirza Azam at the ministry auditorium in the capital on Sunday. In the meeting textile mill owners said that the proposed hike in gas price by 130

Stronger prices for the fiber spurs Tanzanian farmers, the world’s fourth-biggest producer of the organic variety to increase cultivation which may double cotton production to a four year high next season, said a government agency. Emmanuel Mwangulumba, chief regulatory officer at the Tanzania Cotton Board said that ginning companies are raising the amount they pay farmers to an average of 1,000 shillings ($0.46) per kilogram (2.2 pounds), 25 percent more than they previously received. Whi

Bangladesh will overtake China as the world's largest importer of cotton within four years, according to Australian Trade and Investment Commission (Austrade), an Australian government body. Only 0.1 million bales of cotton is locally produced in Bangladesh and the country currently imports more than 6 million bales annually. This figure is projected to double within four years and see Bangladesh overtake China as the world's largest cotton importer, said Tim Martin, Austrade's New Delhi-bas

A Chinese company has evinced interest in investing Rs600 crore in 35 acres in the textile park at Sitarganj in Udham Singh Nagar in the state. This is likely to help the textile industry of Uttarakhand take a major growth. According to experts, surplus ground table water in Sitarganj and proximity of US Nagar to neighbouring countries like Nepal and China have attracted industrialists to the textile park. Another advantage is its border with Uttar Pradesh and good transportation facility to

Sharp rise in rates seen on the cotton market on Tuesday, due to short supply and sporadic rains in some parts of cotton belt. In Sindh seed cotton prices were higher by Rs 50 to Rs 3250 and Rs 3400 and in Punjab, phutti prices gained Rs 100 to Rs 3250 and Rs 3400 per 40 kg, respectively, dealers said. The official spot rate also went up by Rs 150 to Rs 6,600. According to cotton analyst, Naseem Usman, mills and spinners have no choice just to buy cotton even at higher prices. Hovering fea

Mulungushi Textiles, which ceased functioning due to operational challenges in 2007, has reopened in Kabwe, the capital of the Zambian Central Province. At a ceremony to reopen the textile mill, Zambian president Edgar Lungu said it will lead to creation of more than 20,000 jobs in the next five years. The revival of the industry would also benefit the cotton value chain to increase exports and boost the country's economy, he said. About 300 people are already employed at Mulungushi and t

International cotton prices jumped to over 80 cents/lb in the second half of July 2016 from an average of 70 cents/lb for the rest of the season due to tighter stock situation, the International Cotton Advisory Committee (ICAC) has said in its monthly analysis. “Significantly lower crops in the five largest producing countries and higher than expected demand led to tighter stocks at the end of 2015-16, at which time world ending stocks were estimated to have fallen by 12 per cent to 19.7 mil

Entrepreneurs from Japanese city of Izumisano have proposed setting up towel manufacturing industry in Northern Uganda's Gulu district. The proposal was made during a courtesy visit paid by Japanese entrepreneurs on Ugandan president Yoweri Museveni in Entebbe. Museveni advised the Japanese investors to study the economics of growing, harvesting and increasing cotton yields per acre. He said that the economics of producing cotton on a small-scale is not a good idea, and farmers should prod