Knitwear exporters have blamed yarn manufacturers of hoarding stock and using the present situation to their advantage. Perturbed with the turn of event since the beginning of March, exporters in this knitwear hub said “yarn manufacturers have stopped delivery since March 5, albeit unofficially, with a view to hoard supply and create artificial demand. This is affecting our production schedule, particularly because the orders have started to flow in since January. There is also an abnormal in

China, the world's top cotton consumer, kept volumes of cotton offered from its state reserves steady on Monday, defying expectations that it could ramp up sales to help ease tight domestic supplies after stockpiling most of the domestic crop. A government official had previously said Beijing would boost sales of state cotton reserves from April, which would hurt domestic and international cotton prices. Beijing officially finished stockpiling domestic cotton on Friday, with market participant

Taiwanese firms have reaped benefits from their presence in the March 27-29 Intertextile Beijing Apparel Fabrics, an annual textile trade show in China, The Taiwan Textile Federation (TTF) said Saturday. The 26 Taiwanese exhibitors secured about US$480,000 (NT$14.35 million) in orders from foreign buyers during the event, the local textile business grouping said. Moreover, the 26 firms are expected to receive no less than US$2.5 million in total orders in the near future as potential buyers

Cotton output will grow by 15 percent during the current Iranian year (started March 21), said the managing director of Cotton Growers Union. Ali Mozaffari also told ISNA that production of indigenous seed should be prioritized to preserve the country's genetic reserves. "Due to global and domestic price hikes, Iranian farmers are keen to cultivate cotton," he said. He explained that the area under cotton cultivation has reached 120,000 hectares from 100,000 hectares. Mozaffari added tha

Crude oil was up in Asia today, buoyed by strong Japanese equities as the market recovered from a downbeat US jobs report, analysts said. New York’s main contract, light sweet crude for delivery in May added 14 cents to $92.84 a barrel and Brent North Sea crude for May delivery increased 32 cents to $104.44. “The oil market is moving in sync with the Japanese stock market. Oil is also recovering from the selling that came after the US jobs report,” Victor Shum, Managing Director at IHS Purvi

Apex apparel body AEPC has organised a two-day fair in Gurgaon beginning today to attract foreign buyers and boost exports from the sector which has been hit hard by the global demand slowdown. Buyers from countries such as Greece, Australia, South Africa and the US are participating in the fair - India Market Days. The event would help the exporters find the right partners for their business," Apparel Export Promotion Council (AEPC) A Sakthivel said while inaugurating the fair. The event

Cotton planting in India, the world’s largest grower after China, may drop for a second year after the weakest monsoon rains in three years deepened a water shortage in the main growing regions. Futures in Mumbai climbed. The acreage may fall 6.5 percent to 11 million hectares (27.2 million acres) in the 2013-2014 season, planting of which began this month, according to the median of estimates from five exporters, analysts and industry groups compiled by Bloomberg. Sowing fell to 11.77 million

Industrial and domestic power outages have reached a historic level in Punjab, threatening the livelihoods of millions of workers, All Pakistan Textile Mills Association’s (Aptma) leadership said. “We strongly protest against Punjab-specific domestic and industrial power outages” Aptma Chairman Ahsan Bashir said, while addressing a press conference. He said that power distribution companies cut off eight hours of power supply for the textile industry on Sunday and have now threatened to stop t

Growth in retail sales slowed last month despite a boost from an early Easter, as unseasonably cold weather hurt demand for summer clothes and shoes, industry data showed on Tuesday. The British Retail Consortium said retail sales values rose 1.9 percent from a year earlier on a like-for-like measure, which strips out changes in stores' floor space and is favoured by equity analysts. That compared with a 2.7 percent increase in February. The total value of sales grew by 3.7 percent in Mar

Imaginechina/Zuma Press Prada has 25 boutiques in China, including this one in Shanghai. 'Our expansion is not complete,' said Deputy Chairman Carlo Mazzi. Prada SpA's sharp focus on Asia resulted in a 72% rise in profit for its most recent fiscal year, a sign that one of the luxury-goods industry's biggest bets on the growing Chinese market is paying off. Prada—which includes the main Prada label as well as Miu Miu, Church's and Car Shoe—said Thursday that net income for the year ended