China has sold 8.78 percent of the cotton on offer from its state reserves after the first week of sales, confirming expectations of poor demand. Beijing is aiming to sell as much as 1 million tonnes of fibre from state stocks by the end of August as part of a plan to gradually reduce its bulging reserves. But with plenty of commercial inventory still available in the market, and the state auction prices relatively high, mills have held back from bidding. After selling almost a third of the

Vietnam’s textile exports has reached $12 million, growth of 9 percent compared to the same period last year, this is the lowest growth recorded for the last three years, well down on 19 percent recorded for the same period of last year, according to Vietnam Textile & Apparel Association (VITAS). Textiles are a major export of Vietnam which is targeted at $27 million to $27.5 million for this year. In 2014 textile exports had reached $24 million. Out of the $12 million export achieved

Vietnam's Eximbank will disburse any loans under India's $300 million credit for projects which use Indian-made equipment with value of up to 75% of the project's total investment, the Vietnamese government's website reported. Each loan carries a 10-year span and an interest rate of 2% per annum, the website cited a Vietnam Textile and Apparel Association report as saying. Textile and garment exports are Vietnam's second-biggest cash earner after phones and accessories. The credit comes a

As major buyers were on the sidelines due to quality factor, trading activity remained moderate on the cotton market on Tuesday, dealers said.Seed cotton prices in Sindh were at Rs 2300-2350 and in Punjab rates were at Rs 2350 and Rs 2450. In the ready business, around, 3000 bales of cotton changed hands between Rs 4700 and Rs 5000. However, the official spot rate remained unchanged at Rs 4700. According to analysts, some needy mills and spinners took part in fresh buying of seed cotton whil

The Nigerian presidency has constituted a special committee to resuscitate the country’s ailing cotton and textile industry, according to newspaper reports in the country. The direction is in line with the campaign promises of President Muhammadu Buhari to revive cotton and textile industry. Permanent secretary of the agriculture and rural development ministry, Sonny Echono, who announced this while inaugurating the committee in Abuja, lamented that cotton, textile and garments industries

China's economic growth shows sign of stabilization, with the GDP posting a 7 percent growth rate in the second quarter, the National Bureau of Statistics said on Wednesday. Economists said the stable growth momentum is underpinned by the slight rebound in industrial production. They expect the government to continue escalate policy supports in the coming months. The service sector, or the tertiary industry, registered fast expansion in the first half, at a rate of 8.4 percent, compared

Textile segment sales in the first quarter ended June 30, 2015 grew 10.74 per cent year over year at diversified Indian manufacturer, Sintex Industries Ltd. In a BSE filing, the textile division of Sintex Industries reported sales of Rs 171.92 crore in the first quarter of fiscal 2016, up 10.74 per cent from Rs 155.24 crore in the same quarter of previous fiscal.Profit before tax and interest of the textile segment in the reporting quarter, however, rose higher at 16.26 per cent to Rs 20.51 c

Sri Lankan apparel industry has witnessed 9.8 percent growth rate as strong demand was sustained from the EU and the USA in the first quarter of 2015. The apparel export to the US and EU increased by 8.8 percent and 10.9 percent respectively. Over the year 2014-15 the total apparel exports from Sri Lanka accounted for 89 percent to the US and EU. Textured Jersey Lanka PLC (TJL), Sri Lankan leading textile manufacturer said that the company is also directly impacted by demand from domestic

Lower consumption of cotton will lead to higher ending stocks for both 2014/15 and 2015/16 relative to last month, says the US department of agriculture (USDA) in its estimate for this month’s world cotton supply and demand. For US, the report keeps cotton production forecast unchanged from last month at 14.5 million bales, as lower expected abandonment and slightly higher yields offset the reduced planted area indicated in the Acreage report released by the National Agricultural Statistics S

China's export industries, the textile sector in particular, may possibly be affected as the US and Vietnam join hands in pushing the trade partnership. Vietnamese Communist Party chief Nguyen Phu Thong held talks on July 7 at the White House with US president Barack Obama covering the Trans-Pacific Partnership (TPP), the 12-nation free trade plan that Obama hopes to implement as a legacy of his two-term presidency. In TPP negotiations, the US insists on the "yarn forward" principle applied