The cancellations of export contracts and higher local prices could cut India's exports to 5 million bales, each of 170kg, in the 2017/18 marketing year started on 1 October—nearly a quarter below an initial estimate, said the president of Cotton Association of India, Atul Ganatra. Indian cotton traders have cancelled contracts to export some 400,000 bales of the fibre after a rally in domestic prices and the rising rupee made overseas sales unattractive. Prices surged more than 15% in the

Gujarat Chamber of Commerce and Industry (GCCI) had a meeting on Wednesday with Bangladesh deputy high commissioner, Mohammad Lutfor Rahmam at the GCCI premises to discuss the possibilities of exploring a business collaboration in the textile sector of Bangladesh. Shailesh Patwari, president of GCCI said that they are organizing a global textile summit in Ahmedabad this March and has invited Bangladesh to become a partner country for the same. As both countries are at the forefront of the

Slow moving trading activity was seen at cotton market on Wednesday as leading buyers withdrew to the sidelines in the backdrop of falling world cotton prices. The lack of buying interest from leading spinners further pushed cotton prices lower. However, ginners on their part remained steadfast and were not deterred with falling prices. At the Karachi Cotton Association (KCA) spot rates were adjusted downward to Rs7,500 per maund. The following deals were reported to have materialised on r

The textile traders' community in the country’s largest man-made fabric (MMF) hub has been facing lot of difficulties on the GST portal due to technical glitches and sought extension of deadline in the online e-way bill generation. An e-way bill is required for movement of goods worth more than Rs 50,000. Though the central government has launched the e-way bill generation on trial basis for the inter-state movement of goods above Rs 50,000 starting from January 16, the traders have demanded

The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) recently said the promised abolition of all duties on cotton yarn imports will enhance value-addition, improve exports and reduce trade deficit. According to PRGMEA chief coordinator Ijaz Khokhar, The step will help reduce business costs and bridge production-consumption gap. The sharp increase in cotton yarn prices has hit the export-oriented value-added textile sector hard, said Sheikh Luqman Amin, senior PRGM

After a brief period of decline in textile and apparel exports, including handicraft exports, every month beginning May, June, July and October 2017, there is a turnaround in India’s textile and apparel exports, in November 2017. There has been a spurt in export of handloom products, readymade garments, cotton, silk and jute products, and carpets. India’s textile and clothing exports registered a 20 per cent increase in November 2017 over October 2017, according to data published by Directora

Owing to favourable weather in the main producing regions, area planted with cotton in Brazil is expected to increase in 2018, Center for Advanced Studies on Applied Economics (Cepea) said in its latest fortnightly report. In Mato Grosso, the main cotton producing state, inputs costs and anticipated sales point to revenue 10 per cent higher than costs. “Despite the delay of first rains, weather has favoured summer crops in the main producing regions. Sowing has started in several states, such

India’s annual rate of inflation, based on monthly wholesale price index (WPI), stood at 3.58 per cent for the month of December 2017 over same month of last year. The index for ‘Manufacturing of Textiles’ group declined by 0.4 per cent to 113.0. The index for ‘Manufacturing of Wearing Apparel’ group rose by 1 per cent to 138.9 in December. The official WPI for all commodities (Base: 2011-12 = 100) for the month of December 2017 declined by 0.5 per cent to 115.7 from 116.3 for the previous mo

It is not only fabrics and leather which are required for fashion, unusual materials such as stone and pineapple leaves are the new craze. During the upcoming Berlin Fashion Week, the exhibiting labels at Greenshowroom and Ethical Fashion Show Berlin will display stone shoes, blouses made of colourless plastic bottles and pineapple bags, among other things. The event will be held during January 16-18 at Kraftwerk Berlin. When it comes to stone shoes, most people think of the notorious an

Myanmar exported $1.86 billion worth of products from garment units operating under the cut-make-pack (CMP) system as of the first week of January in fiscal year 2017-2018, according to the commerce ministry. The figure is $568 million higher than exports for the same period in the last fiscal. The industry has been based on the CMP system for over 20 years. Efforts to shift more toward the higher value-added “free-on-board” (FOB) approach have not met with much success. The country has over