The Secretariat projects China’s cotton stock at 8 million tons, equivalent to 47% of global stock, at the end of2012/13 season. Last season the Chinese government purchased over 3.12 million tons of cotton for state reserves at a floor price well above the world market price. Consequently, the gap between domestic and world prices triggered record imports of 5.3 million tons contributing to a build up of domestic stocks estimated at 6.2million tons at the end of 2011/12. The Chinese cotton r

Mar 02, Colombo: Sri Lanka Ministry of Industry and Commerce has taken steps to establish 25 handloom industry villages island wide by the end of this year. The Ministry aims to encourage the villagers to produce handloom textile, which has a high demand in local and foreign markets, as a measure to increase employment and strengthen rural economy. The Ministry has planned to establish handloom training centers in these villages and 500 craftsmen, 20 for each village will be trained

The Cotton Corporation of India (CCI) has not been following the guidelines either on opening the notified procurement centres or on offering proper value to the farmers' produce, according to a fact finding committee headed by former Andhra Pradesh high court judge Justice G Bikshapathi. The committee visited the Warangal agriculture market yard, one of the largest cotton markets in the state, on February 8 following a flash protest by the cotton farmers on being denied the minimum support pri

In an effort to draw attention of the visiting Indian President Pranab Mukherjee to Dhaka, 22 Bangladeshi garment exporters have renewed their claim on an Indian importer to settle payment of US$ 5 million against shipment of readymade garments that the buyer is not paying back. Delhi-based importer and super shop chain Lilliput Kidswear having 275 sales outlets across India had imported the apparels last year and despite its repeated assurance of payment the money is not paid yet to the loca

Indorama aims to boost production capacity with a new plant in Purwakarta. (Photo courtesy of Indorama Group) Polyester maker Indorama Group is building a new $185 million polyester plant in Purwakarta, West Java, founder Sri Prakash Lohia said in a rare interview on Monday. The company aims to raise its production capacity by 300,000 tons per annum, more than doubling current capacity at the site, said Sri Prakash, who is also the chairman of the group. “It is the biggest factory tha

Lack of relevant regulations to retrieve assets compounds the problem of unpaid workers, overdue taxes and other arrears left behind by absconding foreign investors Workers of a Korean-owned garment company confiscate work machinery and equipment in November 2008 after their boss, who still owed them two-month salaries, fled Vietnam. PHOTO: TUOI TRE Last October, the owner of Ado Vina – a South Korean-owned garment company in the southern province of Binh Duong – was found to have left the

The Culture Ministry will file a proposal with the Cabinet today suggesting that Cabinet ministers wear only clothes made from Thai fabric. Culture Minister Sonthaya Kunplome said the measure would conserve energy, preserve Thai culture and promote the local textile industry. He has assigned permanent secretary Prissana Pongthadsirikul to notify all ministry offices to start a campaign urging that the public also wear Thai fabrics. Five patterns have been designed for men and women to wear a

Sensory overload! From the wispy feathers at Dries Van Noten to the rock ‘n’ roll studded mini-wrap skirt at Isabel Marant, Paris Fashion Week is an adrenalin-charged sartorial dream. (Seeing Catherine Deneuve munching on popcorn at Lanvin was très surreal.) Ping-ponging from one sensational venue to the next—Palais de Tokyo to Grand Palais to Jardin des Tuileries—is a test of endurance and high-heeled ankle strength. Now at its halfway point, this marathon de la mode has unraveled several key t

Condé Nast International has led a $20m investment in farfetch -, the world’s leading e-commerce marketplace for independent fashion boutiques; it was announced by Jonathan Newhouse, Chairman and Chief Executive. Existing investors Advent Venture Partners, Index Ventures and e.ventures also participated in the fundraising. “farfetch has a unique position, connecting boutiques around the world by e-commerce to sophisticated fashion customers like our magazine readers and website users. It’s a