Vietnam garment and textile sector due to order shortage likely to fail in achieving its export turnover target of US$31 billion this year which will be decade’s lowest growth level of 4.3 percent. Therefore, Truong Van Cam, deputy chairman of Viet Nam Textile and Apparel Association (VITAS) want to lower its export target to $29 billion. Cam said that domestic garment and textile firms should discuss with each other the difficulties in competing with foreign companies. They have also urged t

Lima's largest textile outlet, Gamarra where thousands of people flock to buy clothing items for their family at affordable prices. Peru's President Pedro Pablo Kuczynski in order to target new markets is focused on improving the brand and quality of garments produced at Lima's Gamarra Commerce Emporium. According to the Head of State, the current situation in Venezuela a major garment buyer has had a negative impact on the textile outlet. When consulted on the Trans-Pacific Partnership

The cotton prices recovered slightly at cotton market on Monday due to sustained buying by exporters and millers as there are no fears of supply shortage going forward, dealers said. The official spot rate was slight higher by Rs 50 to Rs 5,950. According to the market sources, volume of business increased due to fresh buying interest. As the business activities have gained momentum after long holidays, the demand remained high with 26,800 bales exchanging hands in Sindh and Punjab regions.

Pakistan’s local silk units hit hard due to unabated import of Indian art silk through United Arab Emirates (UAE). Around seventy percent of the local units have been closed, leading to unemployment of thousands of labour, said President Pakistan Businessmen and Intellectuals Forum (PBIF) Mian Zahid Hussain on Monday. Mian Zahid Hussain said that art silk cannot be imported from India as it has been included in the negative list but authorities have taken little interest in stopping India exp

In its September report, USDA has forecast world cotton production in 2016/17 at 102.5 million bales, marginally above its August forecast, but 6 per cent higher than the previous season's crop of 96.4 million bales. Global cotton use in 2016/17 is forecast at 111.2 million bales, 1 percent higher than the 110.1 million bales in the prior two seasons. For India, the 2016/17 crop of 26.5 million bales is near that of last season, but cotton area is forecast to drop more than 8 per cent. Howeve

In the latest report for September, USDA has forecast the 2016 cotton crop at 16.1 million bales, up 263,000 bales over the August estimate and nearly 3.3 million higher than the 2015 cotton crop. Total 2016 cotton planted acreage was raised 1 per cent in September, while the higher output forecast is the result of an increase in both area and yield. The US government agricultural agency estimated planted area at 10.1 million acres, while harvested acreage was projected at nearly 9.7 million

Bangladesh imported 207,644 tonnes of cotton yarn from January to July this year an increase by more than 25 percent during the first seven months in 2016. Major portion of the yarn has been imported from the neighbouring India. In recent times yarn is also being imported from Indonesia, industry insiders said, which local spinners termed a threat for the sub-sector of the country's primary textile industry. Industry insiders apprehended that if the trend continues, it would badly affect the

Bangladesh Silk Development Board (BSDB) in its working plan (2016-17) has suggested proposing National Board of Revenue (NBR) to increase the duty on imported silk yarn and fabric to save local silk industry and enhance production. As lower duty on imported silk yarn and fabrics has led to the poor use of local product, forcing many silk farmers to move to other professions. BSDB mentioned this to the Parliamentary Standing Committee on Ministry of Textiles and Jute. These were discussed at

The Chinese currency renminbi will become even more important for Australia's economy, and even the world, over the next three years as China's central bank continues its internationalization, the chief of the Australia China Business Council (ACBC) said on Friday. Australia's economy is continuing a mirroring economic transition, away from mining and industrial-led growth, to services industries tailored to capitalize on the Asian middle class. Within the next 10 years, it's expected trad

The Hong Kong Research Institute of Textiles and Apparel (HKRITA) has entered into a four-year partnership with the non-profit H&M Foundation to develop technologies for recycling blend textiles into new fabrics and yarns. H&M Foundation contributed €5.8 million to HKRITA for developing a series of research projects and commercialising the outcomes. As apparel and textile products made from blended materials account for a high proportion of all textiles in the market and garments are