Leading mills and spinners continued normal buying on the cotton market on Friday in the process of trading, dealers said. The official spot rate resisted further decline by Rs 50 to Rs 4,800, they added. In the ready session, around 23,000 bales of cotton changed hands between Rs 4400-5100, they said. In Sindh, rates were unchanged at Rs 1600 and Rs 2400, in Punjab prices firmly held the overnight levels at Rs 2200 and Rs 2600, they said. According to the some analysts, 23 percent increase in

Bangladesh's annual cotton consumption will accelerate 50 percent to six million bales in four years as garment exports are on the rise, the International Cotton Association (ICA) said yesterday. Bangladeshi spinners now consume more than four million bales of imported cotton a year, with the growth in consumption rate being between 10 percent and 15 percent per annum. Jordan Lea, president of the ICA, the Liverpool-based policymaking body for cotton trade, said Bangladesh's garment indus

Heimtextil, which runs from January 14-17, 2015 will see a series of lectures on online retail and marketing and is aimed at retailers and interior furnishings specialists. Within the framework of the 'Webchance Academy', Heimtextil will provide information on successfully advertising and selling on the internet.Ecommerce experts will deliver lectures on current developments in online marketing, present practical examples and provide helpful suggestions for implementing the ideas.In Germany, on

Taking an initiative, the Prime Minister Nawaz Sharif on the demand of All Pakistan Textile Mills Association (APTMA) vowed to resolve the gas crisis without realizing the ground realities because gas is reportedly not available for the industrial sector. The Pakistan government on Tuesday once again failed to develop a strategy to provide uninterrupted gas supply to the textile sector to end the miseries of the industrialists. Sources in the Ministry of Petroleum and Natural Resources sa

Bangladeshi apparel products are losing orders over safety and compliance issues imposed after Rana Plaza tragedy and Tazreen Fashion fire incident. The declining trend is apprehended to be continued in the months to come unless measures are taken to boost up buyers’ confidence. Apparel exports are losing edge in the US market to its competitors namely Vietnam, Cambodia, India and Indonesia, as buyers have started cutting back their orders. For the seven months in a row, the country’s read

To take stock of the current cotton situation and Minimum Support Price (MSP) operations, the Minister of State (Independent Charge) Textiles Shri Santosh Kumar Gangwar today conducted a meeting. During the meeting, the Minister directed Cotton Corporation of to ensure: 1. Online payments be made to farmers' bank account as envisaged under Pradhan Mantri Jan Dhan Yojana. 2. Additional centres be opened immediately wherever required. 3. MSP operations be monitored closely on a daily basis. Shri

In order to boost overall sentiment in Indian apparel sector, the ministry of finances has for duty drawback purposes created a separate entry distinguishing certain export products such as cotton yarn of less than 50 counts or 50 or more counts; core spun cotton yarn containing three per cent or more of lycra /spandex/elastane, cotton blankets and flame-retardant fabrics based on their increasing international demand. “The demand was long-pending. Overall the rates for cotton textiles and th

The government is likely to suspend gas supply to textile industry from mid-December till end-January 2015 resulting in a huge export loss. According to officials in the Ministry of Petroleum and Ministry of Textile Industry, the government has no option but to suspend gas supply to Punjab based industrial units for at least two months in the winter as gas demand/supply gap on the Sui-Northern Gas Pipelines limited (SNGPL) network will soar to 1.8 billion Cubic Feet per Day (BCFD) by next month.

Official spot rates of cotton were lowered for the third consecutive day on Wednesday and most deals on ready counter were also finalised at reduced rates. Floor brokers said activity slowed down considerably as many growers and ginners are holding back their phutti (seed cotton) and lint stocks hoping price hike once the Trading Corporation of Pakistan (TCP) starts lifting cotton from ginners. Though the TCP has so far entered into purchase contracts for more than 300,000 bales with ginne

Australian Prime Minister Tony Abbott has announced the completion of negotiations for a China-Australia free trade agreement (FTA). Subsequently, Australian Trade and Investment Minister Andrew Robb and Chinese Commerce Minister Gao Hucheng signed a Declaration of Intent, undertaking to prepare the legal texts in both languages for signature. Under the deal, said to be ‘the deal of a lifetime for Australia’s economy’, 85 per cent of all Australian exports will enter China duty-free. This wil