Cotton output in India is likely to decline by a marginal two per cent due to massive decline in yield following delayed sowing last year. Data compiled by the ministry of textiles showed total cotton output at 39 million bales (1 bale = 170 kgs) this season ending September 2015, against 39.8 million bales of the fibre production reported last year. The fall in cotton was estimated after various stakeholders met on Tuesday in the Cotton Advisory Board meeting here. “The fall in output can

China’s yuan has dropped to seventh place among the world’s payments currencies, global transactions organisation SWIFT said on Monday, even as Beijing tries to push greater international use of the unit. The yuan — also known as the renminbi — held a 1.81 per cent share in world payments based on value in February, SWIFT said in a statement, down from 2.06pc in January, when it stood in fifth place. The Swiss franc and the Canadian dollar overtook the Chinese currency last month, SWIFT da

Bangladesh should practise hedging for cotton imports, as the consumption of the fibre is on the rise and so are the trading risks, said industry insiders. Hedging is a strategy designed to reduce the risks of adverse price movements in an asset. A hedge usually takes the form of a transaction in one market or asset in order to offset possible losses in another. For example, a company might buy a foreign exchange option to protect itself against the risk of fluctuations in spot currency ra

The Ministry of Commerce, Government of India, will soon release a strategy paper mentioning the ways to increase competitiveness of Indian textiles in export markets. The competitiveness of Indian textiles in global markets is decreasing, while countries like Sri Lanka and Turkey are becoming more competitive in this sector, a news agency said quoting a senior official from the ministry. The move to unveil a strategy paper is important as textiles account for more than 10 per cent of Indi

With cotton prices starting to pick up, spinning mills are averse to buying this year. On Tuesday, the price of cotton rose Rs 1,200-1,400 a candy (356 kg) to Rs 33,830 a candy. J 34 is a variety of cotton grown in northern India with a strength of 4.5 micronaire (a measurement of the thickness of the cell walls of a cotton fibre) and length of 29 mm. A surge of Rs 300 per candy in the price of Shankar-6 (long staple cotton of 32 mm and 3.8 micronaire) has also been witnessed in Gujarat and its

In January, China's exports of real silk commodities totaled US$ 298.87 million, down 15.61% year-on-year, according to China Chamber of Commerce for Import and Export of Textile and Apparel. But meanwhile, the exports of silk garment and silk made-up goods from Sichuan Province increased significantly in terms of both quantity and value. In January, the export of silk dropped 8.87% year-on-year to about US$ 57.52 million, the export of silk fabric dropped 24.38% to US$ 78.36 million, and th

The Viet Nam National Textile and Garment Group (Vinatex) will begin construction of a textile and garment factory complex in the central province of Quang Nam on March 25, 2015, according to Vietnamese media reports. The textile and garment complex project will be spread over 20 hectares in Que Son district and will be built at a cost of 1.14 trillion dong (approximately US$ 53.5 million). The project will include a fibre factory with a capacity to produce 4,600 tons of products annually,

The latest figures of the General Administration of Customs show that China's exports of textiles and garment rose dramatically 99.31% year-on-year to more than US$ 21.67 billion, but it dropped 15.14% month-on-month. The export of textile yarn, fabric and made-up goods grew 99.14% year-on-year to US$ 8.397 billion, but down 13.58% month-on-month; the export of garment and accessories rose 99.42% year-on-year to near US$ 13.28 billion, but it dropped 16.09% month-on-month. Source: China

Tamil Nadu knitwear manufacturers demand for a separate State Textile Board and also devise a separate textile policy. In a memorandum sent to Chief Minister O. Paneerselvam, the industrialists said that a Textiles Board, and a textile policy would help the government give a focused approach to the development of textile industry. According to A. Sakthivel, president of Tirupur Exporters Association, the State textile policy should provide 5 percent interest subsidy, and 10 percent capital su

Bangladesh is becoming a major source of denim products as international retailers prefer the country to other destinations for its low prices, said a leading entrepreneur. Bangladeshi manufacturers are also increasing their production capacities because of the higher demand from foreign customers, said Mostafiz Uddin, managing director of Denim Expert Ltd, a Chittagong-based apparel maker. Denim will play an important role in raising exports of Bangladesh, which is already the second larg