Cotton prices soared to a seasonal high on Saturday on sustained demand from spinners. However, the volatility on the world cotton markets and surge in domestic prices kept trading activity restricted. Floor brokers said that phutti (seed cotton) arrivals slowed down owing to rising prices and many ginners have also temporarily halted their operation fearing huge losses if prices move further higher. Short supply of phutti coupled with panic buying from needy spinners pushed cotton prices

Bangladesh garment industry generated $28.09bn exports in the fiscal year 2015-16 which just ended, registering a 10.21% growth from the previous year. The data officially released yesterday showed that the earnings also exceeded the target of $27.37bn set for the year. Of the total figure, the knitwear constituted $13.35bn and woven products $14.74bn, according to Export Promotion Bureau data. The growth has been attributed by exporters and analysts to political calmness during the year, inc

Soaring cotton prices could be bad news for the spinning sector of India's cotton industry. According to ratings agency Icra, the spurt in India's domestic cotton prices, which have now overtaken international rates, points to shortage and will adversely impact yarn demand and profitability of spinning companies in the second quarter of this fiscal. Domestic prices of ginned cotton have increased significantly from Rs 90-92/kg in April 2016 to Rs 122/kg currently. "The spurt in cotton pric

Foreign companies providing technology solutions for textile, garment, and footwear production have been increasingly active in Vietnam, taking advantage of the expected growth of the industry. On July 7, French company Lectra announced the opening of its subsidiary Lectra Vietnam. Lectra, which provides technology solutions dedicated to industries using fabrics, leather, technical textiles, and composite materials, has been present in the country for over 20 years, represented by its agen

UK based retailer John Lewis aims to expand its own brand home furnishings business to £1 billion sales per year by 2020, while continuing to expand its exclusive relationships with other brands. “Key to the success of this goal is the introduction of its new 'Design Project' collection this Autumn, which is an in-house designed 250 piece line focusing on beautiful and thoughtful design,” the retailer said. The retailer has also recently launched a string of exclusive collaborations with e

The government considers allowing the Trading Corporation of Pakistan (TCP) to purchase lint from ginners as part of a plan to extend support to farmers, an official told Dawn on Monday. The proposal for support price in the shape of subsidy came from the Punjab government with a pretext to provide support to farmers. The official said it was suggested in the summary to announce an indicative price for the cotton on the pattern of wheat. Similarly, the intervention will be made through TCP

Handloom, besides being one of the most important cottage industry in the State of Manipur, is also one of the fast growing industries, having highest concentration of weavers and highest concentration regarding possession of looms in the country, said M Rajen Singh, Additional Director (Handloom) of Commerce & Industries Department, Government of Manipur. As per the Handloom Census 2009-10, Manipur has 2.04 lakh handloom workers and 1.90 lakh looms. The Additional Director further inf

Even as good quality long staple cotton is expected to command impressive prices of up to Rs 6,200 per quintal in January 2017, the area under cotton cultivation in India could drop by one third in the wake of good monsoon this year, according to an analysis by Tamil Nadu Agricultural University. Quoting trade sources, the analysis predicted that the area of cotton in India may decline up to 35 % as the farmers have shifted to crops like groundnut, pulses, paddy and sugarcane. The white fl

The recent Gulshan attack has concerned global retailers and brands of the apparel products who are now keen to see what measures have been taken to ensure security during their visit to Bangladesh, sector insiders say. Instead, some buyers have asked the manufacturers to meet them in the third country in the wake of security concern for negotiating business deals and placing orders. The recent terror attack at Holey Artisan Bakery in Dhaka’s diplomatic zone killed 20 people including nine

The Indian Texpreneurs Federation (ITF) has lauded the government's initiatives for creating a growth-conducive platform for the Textile value chain and forwarded some suggestions aimed at achieving the export target of $ 300 billion by 2024-25 to the new Union Minister of Textiles Smriti Zubin Irani. Congratulating the new Textile Minister in a letter, ITF Secretary Prabhu Dhamodharan said in the last two years, the ministry had created a good platform for growth by improving efficiency in t