According to CEPEA, cotton quotes have dropped significantly in the Brazilian market in 2014, especially after February and are lower than the government floor price since mid July. The CEPEA/ESALQ Index for cotton type 41-4 has dropped 27.62 per cent till December 28 as against that observed in 2013, when the Index rose 33.84 per cent.This is a result of significant increase of 32 per cent in Brazilian cotton production in 2013/14 compared to the season before, along with a quality decrease in

Turkey has been experiencing difficult times with its exports to Russia which has declined by 14.6 percent, dropping to $6.57 billion in 2014 compared to $7.96 billion in 2013 due to the decrease in the value of the ruble. According to the records of the Turkish Exporters' Assembly (TİM), Turkey's total exports rose to $157.62 billion with an increase of 4 percent in 2014. Unlike the increasing export rates in 2014, big losses occurred in the Russian market, having a large impact on all

The government of India has agreed to provide all necessary assistance to develop Afghan textile industry and assist in skill development, research and development, technical collaboration in product development and manufacturing, testing and certification and organize joint trade missions for mutual collaboration. The commitment was made at the time of signing of Memorandum of Understanding (MoU) between the Ministry of Commerce and Industries of Afghanistan and Indian Ministry of Textiles o

The government will again demand duty-free market access for garments to the US, as Bangladeshi businesses have to pay exorbitant duty for exporting apparel items to America. The demand will be placed at the second meeting of Ticfa (Trade and Investment Cooperation Forum Agreement) in Washington this May. The Ticfa, signed in November 2013, is a platform to resolve trade-related disputes between the two countries through discussions. “We will start preparing our agendas for the meeting

In the last five months of 2014, Ethiopia imported more than 3,000 tons of cotton to meet the demand of domestic textile industry, according to the Textiles Industry Development Institute (TIDI). Ethiopian Government resorted to importing cotton in mid-2014 as a short-term measure to address the challenge of scarcity of raw material. In addition to allowing import, the Ethiopian Government has introduced a new system, wherein companies owning textile mills are allowed to cultivate cotton,

In what may mark an end of high-quality extra long staple cotton, the Egyptian Government has decided to stop paying subsidy of 350 Egyptian pounds per qintar (160 kg) of cotton to producers, from the next agricultural season. Last season, Government subsidies for cotton touched nearly 520 million Egyptian pounds, according to the Ministry of Finance statistics. There is very limited demand, both in domestic and global markets for Egyptian cotton, particularly the long staple variety, and

The National Association of Microfinance Banks (NAMB) urged the Federal government of Nigeria to formulate and embark on protectionist policy that will curb large scale textile dumping and smuggling into the countries and enhance the development and sustained growth of the nation’s textile industry. It could be a major solution to the threats the Nigerian textile industry is presently facing. The NAMB President, Mr Valentine Whensu, said that the increasing activities of textile smugglers wer

Hong Kong investors have increased their investments in textile and dyeing projects in Vietnam in anticipation of cashing in on new opportunities when Vietnam joins the Trans-Pacific Partnership (TPP) and has move up to second position among biggest investors in Viettnam in 2014. HongKong has surpassed other major investors such as Japan, Singapore and Taiwan, according to the Vietnamese Ministry of Planning and Investment (MPI). Companies from Hong Kong had assured over US$3 billion for 99 n

Bangladesh's cotton consumption will rise 4.08 percent in fiscal 2015-16, riding on higher demand from local spinners and foreign investors in the textile sub-sector, the London-based Economist Intelligence Unit (EIU) forecasts. Consumption will increase to 1.02 million tonnes despite poor safety standards, mainly due to a shift in investment in the textile sector from India and China, the EIU said. This is the first time that cotton consumption will cross the one million tonne mark. The E

The International Labour Organization (ILO) called on companies sourcing garments in Cambodia to help the local industry absorb a new minimum wage of $128 a month which went into effect on January 1. In a statement, the ILO said its estimates showed that average wages including bonuses and overtime were likely to rise from $183 to $217 a month. "The pay rise is expected to increase factories’ wage bills by approximately 18.7 per cent," the statement said, noting that this was on top of earlier