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

The government has reduced the cash incentive to 4 per cent from 5.25 per cent for apparel products export and 12.50 per cent from 15 per cent for leather goods export for the fiscal year 2015-16. A Bangladesh Bank circular issued on Monday said the government also decreased the additional cash incentive for small and medium industries of the textile sector to 4 per cent for the FY16 from 5 per cent for the FY15. A BB official told New Age on Monday that the export-oriented local textile

Garment exports to the US, the country's single largest export destination, rose 7.09 percent year-on-year in the January-May period on the back of a rebound in the American economy. Bangladesh exported $2.32 billion worth of garment products to the US in the first five months of the year, according to data from the US Department of Commerce. The development will assuage the nerves of many, as garment exports to the US experienced negative growth almost all throughout 2014 as a repercussio

India is losing its market share in cotton and man-made fibre (MMF) categories, as most of the products are made of coarse count yarn and MMF prices are at least 25 per cent higher than rates prevailing in competing countries, say textile industry sources. High duty Urging the Centre’s immediate intervention for improving India’s stance in the global market, the Indian Texpreneurs Federation (ITF) pointed out that of the total 864 textile and apparel commodities traded in 2012, India’s sha