The consumption of locally grown cotton by Egyptian companies decreased by 56.6 per cent in the second quarter of the agricultural season 2015-16, the Central Agency for Public Mobilisation and Statistics (CAPMAS) showed. During December 2015 – February 2016 period, local companies purchased 76,400 kantar (1 kantar = 45.02 kg) of cotton, compared to consumption of 175,800 kantar in the corresponding period of the previous season. The decline in consumption was largely due to shutdown of a

Cotton prices remained firm in the Brazilian spot market in the first week of June 2016, due to low availability of crop and the firm position of sellers. Between May 31 and June 15, the CEPEA/ESALQ Index, with payment in 8 days, for cotton type 41-4, delivered in São Paulo, increased a slight 0.11 per cent, closing at 2.6907 BRL ($0.7776) per pound on June 15, Cepea, the Sao Paulo University linked research centre, said in its latest fortnightly market analysis. However, very few trades w

The country’s textile and garment makers have renewed their demands for 0.30% tax at source for the next fiscal year to attract more investment. If it is not possible, they have urged the government to continue the exiting 0.6% for the next fiscal year 2016-17 for the sake of creating more jobs. Several leaders of the RMG and textile sectors came up with the call at a joint press conference at BGMEA headquarters in the city yesterday. Bangladesh Garment Manufacturers and Exporters Assoc

Pakistan's Senate Standing Committee on National Food Security and Research on Wednesday recommended the imposition of Regulatory Duty (RD) on the import of cotton bales from India. The committee, which met under the chairmanship of Senator Syed Muzaffar Hussain Shah, observed that import of cotton lint from India via Wagha border despite sufficient stock in the country would adversely affect cotton growers. The committee urged the Finance Ministry to direct Federal Bureau of Revenue (FBR) to

Jinsheng Group, a Jiangsu, East China based industrial conglomerate with a focus on high-end equipment manufacturing, will invest 40 billion yuan in Xinjiang textile and garment industry. This was disclosed during the recent meeting between Pan Xueping, president of Jiangsu Jinsheng Industry Company, and Zhang Chunxian, secretary of the Party Committee of Xinjiang Uygur Autonomous Region. Jinsheng Group plans to set up three industrial parks in Xinjiang—the ecological yarn pilot industria

The Zimbabwean cotton sector has over the years taken a nosedive due to the plummeting prices of the commodity on the international market, which has resulted in farmers shunning the crop. Vice President Emmerson Mnangagwa said that Ethiopian investors have expressed willingness to invest in the Zimbabwean cotton sector and hence the government will take the lead in ensuring that the cotton industry is revived. He said that government will fully invest in the sector especially on the benefici

Trading on the cotton market remained fairly moderate on Wednesday where spinners chased lint to meet their near-future demand. Floor brokers said that the prices were stable due to sustained buying while power load-shedding has forced some spinning mill owners in Punjab to reduce the operation of their mills to one shift. They said the local textile industry was under pressure due to the import of a huge quantity of fabrics from Vietnam and was seeking anti-dumping duty. Phutti prices

Cotton planting in India, the world’s biggest producer, is likely to fall to the lowest in seven years in the 2016/2017 marketing season as farmers switch to other crops, potentially cutting production and exports of the fibre. A pest attack in key cotton growing states and forecasts of good monsoon rains are also prompting farmers to plant other crops such as sugarcane, peanut and pulses. Lower cotton shipments from India could support global prices, now trading near their strongest level

Active trading on the cotton market helped prices to remain steady on Tuesday while the picking of new crop started in Punjab as well. Floor brokers said prices could increase in the future due to a rise in demand. Moreover, the price of old stock cotton was also increasing on the back of renewed interest. They said that demand will rapidly rise after full supply of electricity will be available to the textile industry after Eidul Fitr. At present, the industry is facing 10 to 12 hours pow

In what is shaping up as a turf war, the power loom sector in South India has sought further reduction in the number of products reserved for handloom textile items. The number has already been reduced from 21 items to 11. Arguing that there are more products that require intricate skills and the demand for which cannot be met by the handloom sector, Chairman of Powerloom Development and Export Promotion Council (PDEXCIL) M Duraisamy said restriction must be lifted from those items too. Th