Renewed buying interest helped cotton prices recover part of the recent losses on Saturday as lower prices attracted some spinners who eagerly replenished their stocks. The positive measures taken in the budget FY17 for the textile sector — including duty-free import of plant and machinery, cut in export refinance rate and extension in drawback of local taxes and levies (DLTL) scheme on incremental increase in exports — induced sentiment, brokers said. The last couple of week’s general let

South Korea-based textiles maker Toray Chemical Korea Inc. said on Wednesday that it has succeeded in developing micro-scale hollow fibres that can replace fillers such as goose feather for winter jackets. According to areportin Pulse, a Korean business website, Toray Chemical Korea's micro-scale hollow fibre is made by combining two types ofpolyesterpolymers and has a spiral shaped fibre structure, or three-dimensional crimp, making it possible to enclose more air to retain heat better.“The co

Global consumption ofcottondeclined by 3 per cent to 23.6 million tons in 2015-16, and it is likely to remain at the same level in 2016-17 due primarily to lowpolyesterprices and weak global economic growth, the International Cotton Advisory Committee (ICAC) has said in its latestreport. In 2015-16, China remained the world's largest consumer and its cotton mill use is estimated at 7.1 million tons. However, its cotton consumption is expected to decrease by 5 per cent to 6.7 million tons in

CottonAustralia has welcomed the announcement of funding for two programmes that will benefit growers. The funding is part of a $150 million funding commitment for feasibility assessments and construction of water infrastructure across the state. Cotton Australia's reaction came after Deputy Prime Minister Barnaby Joyce today announced $650,000 would be made available to fast-track a feasibility assessment into using recycled water to expand agricultural production in south-east Queensland."We

There was mostly a lull on the cotton market as traders awaited the scheduled announcement of the federal budget (2016/2017) on Friday. Thus the pace of business in the ready market was slow on Thursday while only a few lots of cotton changed hands. Not much buying was thus reported. Brokers said in Karachi that Sindh styles were being offered between Rs 4,800 to Rs 5,700 per maund (37.32 Kgs), according to the quality. In the Punjab, lint prices were reported to have ranged from Rs 5,300 to Rs

A report released last week by the United States International Trade Commission (USITC) entitled “TPP Agreement: Likely Impact on the US Economy and on Specific Industry Sectors” stated that the TPP would help Vietnam attract more foreign footwear investors and boost exports to the US, one of the largest footwear markets in the world. USITC chairman Meredith M. Broadbent said that “Already, several major US footwear companies have begun sourcing a significant share of their footwear purchases

India's GDP numbers for quarter January-March stood at 7.9 per cent as against 7.3 per cent in October-December, thereby making it the fastest growing economy in the world, according to a Finance Ministry statement. The government data projected a growth of 7.6 per cent in 2015-16 against the government's more modest expectation of 7-7.5 per cent growth. This despite growth decelerating to 7.3 per cent in the quarter ended December from 7.7 per cent in the previous quarter. According to th

The Egyptian Textile Industries Council and the China National Textile and Apparel Council signed a framework agreement last week to establish a 1.2 million square meter zone for textile industries in the Egyptian governorate of Minya. The move represents an important step towards reinstating Egypt as a leading actor in the textile industry in the Middle East and North Africa, pointing to its wide-ranging expertise in textile production, said Tarek Kabil, Egypt’s Minister of Trade and Industr

DBL Group, a ready-made garment and textile giant of Bangladesh, is stepping up on plans to establish a factory in Ethiopia that will provide around 4,000 jobs and be supported by long-time customer Hennes & Mauritz (H&M). Fast fashion retailer H&M has committed to becoming a long-time buyer and supporting the factory with expert knowledge in sustainable textile production. The Mekele-based integrated knitting, dyeing and garment facility will be solely owned by DBL Group, with Sw

On Tuesday, cotton prices in Pakistan slid amid lackluster trade due to lack of buying interest from spinners and higher imports of cotton, whereas, cotton prices in the world markets moved higher. The spot rate settled at PakRs5,500/maund (37.324 kilogram each), down PakRs50/maund from the previous level. Around 1400 bales of cotton were changed hand in the ready markets of Sindh and Punjab. Floor brokers stated that the market was expected to witness enthusiasm after a government’s decis