The total seasonal arrival of cotton in India has dropped by 19% so far this year as compared to arrivals during the same period last year and this is because of the dull demand from domestic mills and increased holding capacity among farmers. By the end of January 2016, the country's total seasonal cotton arrival was about 17.02 million bales (a bale of 170 kg) as compared to 21 million bales by the end of January 2015. However, as compared to the total estimated cotton production of 36 m

Trading was slow on the cotton market on Wednesday in the wake of depressed phutti (seed cotton) arrival figures. Much of the buying remained around low quality lint because of short supply of quality cotton. Floor brokers said that steady flow of buying orders for low quality cotton kept prices steady but big spinners were conspicuous by their absence. The market should have rebounded under normal circumstances but since the textile industry is facing financial crisis there was no immediate

Pakistan’s cotton production has plunged 33 per cent to 9.612 million bales this season, the Pakistan Cotton Ginners Association (PCGA) said on Wednesday. The industry believes that such a huge shortfall would not only hurt the economy, but also have far-reaching social implications. Cotton experts estimate that the shortfall would inflict a loss of around $6 billion to the country’s GDP. Output in Punjab is lower by 44pc as the province has produced 5.857m bales this season compared

After three decades of focus on demand-side, the Chinese government has in recent months turned its focus on supply-side reforms in its bid to sustain growth momentum seen over the last few years, according to Chinese media reports. The rapid growth witnessed by the Chinese economy during the last 30 years had capital investment, exports and consumption as its focus areas, which are all generally considered demand-side parameters. For example, in 2008, following the sub-prime crisis in the U

India’s cotton exports during the previous cotton season, which begins from October 1, stood at 57.72 lakh bales. During the 2015-16 season, cotton exports are expected to rise by 21.27 per cent to 70 lakh bales (170 kg each) mostly due to rise in demand from Pakistan, a senior official said today. Textile Commissioner Kavita Gupta said that this year, Pakistan will overtake Bangladesh as the top importer of Indian cotton as the demand in Pakistan has grown due to crop damage in Punjab region

Pakistan likely to see a fall in cotton consumption to 2.2 million tons, a decline by 12 percent this year, by consuming 2.2 million tons of cotton it would be exporting around $13 billion of textile products. This was revealed in the monthly cotton update by the International Cotton Advisory Committee (ICAC). While Bangladesh and Vietnam with the same combined consumption on the strength of 22 percent and 13 percent increase in their cotton use would generate exports of over $54 billion. Thi

The EIU’s prognosis was spurred by Vietnam’s rational inflation rate level. The EIU said that a reduction of inflationary pressure will create favourable conditions for Vietnam to carry out numerous monetary and financial policies. In addition, Vietnam will see vibrant investment activities in the year. Additional capital flow will pour into the country thanks to the various free trade agreements (FTAs) negotiated throughout 2015, according to the EIU. The EIU also predicted that the South

Export performance of the textile sector is lagging behind plan during the 2015/16 fiscal year first half year. This is found at the cotton development and textile industry performance evaluation, the Ethiopian Textile Industry Development Institute (ETIDI) announced that the export of textile has reached 41.1 million USD against the nation’s plan to obtain some 60.07 million USD. Only 70 percent of the plan has been achieved. Institute Plan and Information Management Director Abebe Kasse sai

In order to help exporters upgrade factories and boost investments, government of Bangladesh is set to revive the option of reduced corporate tax rate for the garment sector. From fiscal year 2005-06 till 2013-14, the sector paid corporate tax at a reduced rate of 10 percent. However, this provision was expired on 1st July, 2014 and the government did not extend it again, meaning the sector paid tax at the 35 percent rate in fiscal 2014-15. Siddiqur Rahman, president of the Bangladesh G

The Federal Government of Nigeria has been urged to ban import of foreign fabrics to revive the nation’s ailing textile mills. According to Alhaji Sani Muhammad, the Administrative Secretary of Zamfara Textile Industry located in Gusau, importation of textile materials had led to the collapse of the nation’s textile sector. Muhammad lamented that Zamfara Textile, established in 1965, had layed off over 2, 500 workers in 2004. It is unfortunate that the industry is not able to come back fully.