Pakistan textile remained the major beneficiary of the Generalized Scheme of Preferences (GSP) Plus arrangement. During January-April 2014, Pakistan textile exports to the EU increased to $1.74 billion from $1.44 billion during the same period in 2013. The EU has given the GSP Plus facilities to three new countries including Pakistan from January 1, 2014 and will end on December 31, 2016. Exports to the EU increased by 17 percent in the first five months of 2014. During the period under revi

Cotton production in Zambia, a land-locked country in South Africa, has reduced in 2013-2014 farming season to 95,000 tonnes from 102,000 tonnes in the 2012-2013 season, Zambia Daily Mail reported. During 2013-2014 farming season, the average yields were registered at less than 300 kilograms per hectare, Zambia Cotton Ginners Association (ZCGA) executive secretary Bourne Chooka said while signing a code of conduct with eight ginning firms to improve the cotton production in Zambia.At the recent

Wool production in Australia will decrease by about two per cent for 2014-15 season to 334 million kilograms greasy, compared to previous season’s total of 341 million kg, the Australian Wool Production Forecasting Committee (AWPFC) said in its December 2014 forecast. However, the production is now anticipated to be slightly less than the decline previously forecast in August. AWPFC chairman Russell Pattinson said, “While the Committee expected in August that average fleece weights would impr

Manufacturing has been shifting away from the more expensive southern China to Southeast and South Asian countries such as Vietnam and Bangladesh. The shift is being led by textiles which may have increased intra-Asian trade but it will still take years to cause an impact on global sourcing patterns, according to trade finance bankers and fashion retailers. World trade has been growing faster than world [gross domestic product] due to the fragmentation of the supply chain, said Noel Quinn, th

India’s cotton yield has recorded a drop in output at 40.2 million bales (170 kgs each in 1 bale) in November during 2014-15, while during the same period last year, total cotton crop stood at 40.7 million bales according the Cotton Association of India (CAI). The projected balance sheet drawn for the year 2014-15 estimates total cotton supply at 47.39 million bales while domestic consumption is estimated at 30.60 million bales thus leaving an available surplus of 16.79 million bales, said C

Despite crude oil prices continuing to fall, synthetic textile makers are reeling under high polyester raw material prices which has led to unchanged yarn prices. Purified terephthalic acid (PTA) and mono-ethylene glycol (MEG), the two key raw materials used in making synthetic yarn have globally remained depressed but in India the same have risen by Rs 10-15 per kg in recent past and have remained at high levels, thereby putting yarn makers' margins under pressure.According to synthetic textil

Federal Minister for Textile Industry Abbas Khan Afridi has said that the government was giving top priority to the value-added textile sector to provide jobs to more than 5 million people and increasing textile exports by $2 billion per annum under the new proposed textile policy (2014-19) with finances of Rs 80 billion. Speaking at a press conference here on Saturday after an APTMA meeting, Federal Minister for Textile Industry Abbas Khan Afridi said that there would be a number of benefits,

Trading activity came down as mills and exporters, showed some hesitance in finalising new deals as rupee's ascent versus dollar likely to cause huge losses, dealers said on the cotton market on Saturday. The official spot rate sustained overnight rates at Rs 4,650, they added. In the ready session, about 15,000 bales of cotton changed hands between Rs 4000-5000, they said. In Sindh, prices were unchanged at Rs 1500 and Rs 2400, in Punjab prices were also inert at Rs 1600 and Rs 2500, they said.

Bangladesh will be able to churn $5 billion from exporting leather, leather goods and footwear in four years, riding on the back of product diversification and value addition, a leading exporter said yesterday. The sector will create 200,000 jobs in the period, said Md Saiful Islam, managing director of Picard Bangladesh. “Everyone is talking about export diversification. The leather sector will help Bangladesh diversify its exports,” said Islam, also the vice president of Leathergoods and

The German government will give €50 million compliance fund for Bangladesh’s textile industry to cope with global standard. A Memorandum of Understanding was signed yesterday at secretariat in this regard between two countries. The German delegation headed by its Parliamentary State Secretary to the Federal Minister for Economic Cooperation and Development Hans-Joachim Fuchtel and Commerce Minister Tofail Ahmed signed the MoU from their respective sides. Addressing the signing ceremony,