A stated goal to reduce exposure to other markets will drive an enormous increase in propylene and propylene derivatives capacity in China by 2020, an executive with IHS Chemical said Thursday. Matthew Thoelke, director for olefins and derivatives in Europe, the Middle East and Africa, says China holds the key to the future propylene market because of its status as the world’s largest importer. “The Northeast Asian, Taiwanese, South Korean and Japanese petrochemical industries have grown up on

Pakistan’s export of textile and clothing fell by over four per cent in February 2013 from a year ago after witnessing successive growths in the past five months. Since October 2013, exports of textile and clothing rebounded because of slight rise in demand from recession-hit key markets of European and the US, and improvement in domestic production. Export of textile and clothing dipped to $991 million in February 2013 from $1.033 billion during the corresponding month of last year, showed

South Korea's imports of crude oil from Iran fell nearly a quarter in the first two months of this year from a year earlier as the country faced U.S. sanctions pressure targeting Tehran's nuclear development, Korean official data showed on Friday. The world's fifth-largest crude oil buyer imported a total 79.75 million barrels of crude oil in February, down 1.3 percent from a year earlier, data from state-run Korea National Oil Corp showed. Preliminary data from the Korean government showed ea

The exports of cotton yarn and raw cloth increased by 34 percent and 13 percent to $1.2 billion and $1.5 billion, respectively during six months (July to January) of 2012 as against the same period of 2011. Domestic cotton prices in China are high so millers in China are mainly relying on cheaper imports from Pakistan and regional producers, said fibre experts. The demand for cotton yarn and raw cloth from Pakistan will remain strong in coming months, as quality is higher with cheap internat

India’s cotton imports could reach 1.5 million bales this year, falling short of industry estimates of more than 2 million, as expected sales from government stockpiles will limit the demand for overseas supplies, traders said on Friday. An Indian textile industry official this month estimated that cotton imports could jump two-thirds to more than 2 million bales (340,000 tonnes) in 2012-13, as a seasonal output slowdown and stockbuilding push domestic prices higher in the world’s second-larges

Africa's cotton producers aim to more than triple annual raw cotton output to 5 million tonnes over the next 10 years to better influence world prices, the head of a leading industry organisation said on Friday. West Africa alone represented about 15 percent of the world's cotton exports, analysts say, but the region was hit hard by a market crash in the early 2000s that pushed many farmers to switch to other crops. The continent currently produces around 1.5 million tonnes of raw, unginned co

Economy mismanaged is a very common talk these days, but hearing about such a drastic measure like sourcing labor from other countries to solve a domestic problem opens a completely new scenario. Shortage of labor in export oriented readymade garments manufacturing seems to have prompted such an alternative. When it comes from the symbolic head of the Readymade Garment Exporters it is more sensitive that it looks. What is beyond comprehension is the reality that Sri Lankan skilled workers in t

H&M is proud to announce a new partnership for its summer campaign with global superstar Beyoncé. The entertainer, who kicks off her sold out Mrs. Carter Show World Tour on April 15, will appear in television and print ads featuring pieces from the H&M summer collection. The print and outdoor billboards introduce "Beyoncé as Mrs. Carter in H&M”, the idea that all women can be all things: strong, vulnerable, sensual, maternal, fun, flirtatious. The clothing will be available begin

India’s garment exports to the world have grown by 21.15 percent from US$ 10.685 billion in 2008 to US$ 12.945 billion in 2012, while China’s apparel exports during the same period have grown by 31.21 percent from US$ 113.021 billion to US$ 148.302 billion, India’s Minister of State for Textiles Smt. Panabaaka Lakshmi said in a written reply to the Rajya Sabha, the Upper House of the Indian Parliament. Giving the comparison for garment exports to major destinations, she said India’s exports t

Textile and apparel exports from landlocked country of Botswana, located in Southern Africa, fell sharply by about 66 percent from P1.8 billion in 2011 to P609.6 million last year, the figures released by the Bank of Botswana indicate. In 2012, Botswana’s textile and garment exports witnessed high fluctuation from a high of P330.4 million in the first quarter to a low of P79.3 million in the second quarter. The uncertainty prevailing around the extension of the third-country sourcing provi