A file photo of cotton farmers applying fertilizers. Cotton farmers have shifted to sowing of soyabeans in some parts of Andhra Pradesh and Maharashtra and to corn in northern Karnataka, according to Indian Cotton Federation. However, in Tamil Nadu, there was a 20 per cent increase in cotton sowing instead of rice in areas surrounding Thanjavur, due to scarcity of water during sowing for the Kuruvai crop, the federation in its cotton market report said. Without attributing specif

Cotton sales have risen this marketing season compared to the same period last year due to the early resolution of the producer price. Latest figures released by the Agriculture Marketing Authority show that a total of 41 907 690 kilogrammes of cotton have so far been purchased since the marketing season opened in April this year. Last year, a total of 349 000 tonnes of cotton were sold since the selling season started late in July due to a price impasse between growers and merchants. This

China's efforts to curtail imprudent bank lending represent thecountry's latest policymove to cause unforeseen impacts on the cotton market-but, again,encouraging domestic millers to switch to imports. The country's central bank, the People's Bank of China, two weeks ago flagged its willingness to tighten monetary policy, with the aim of achieving more stable economic growth, in a move seen targeted at curtailing banks' appetite for risky loans, and for channelling deposits into off-balance-s

Chief Minister Shahbaz Sharif has said that manufacturing sector is of key importance in exports and its growth can increase national exports and strengthen economy. He said there was vast export potential in garments industry which could help enhance investment and generate job opportunities. He was presiding over a meeting on the promotion of garments industry and increasing textile exports at Model Town on Monday. The meeting considered matters related to promotion of garments industry, its

Global cotton prices dipped in late June after the Cotlook A Index rose to 96.65 cents per pound in the middle of June before receding to the low of 90 cents level towards the end of the month; as the global cotton policy remained China centric, International Cotton Advisory Committee (ICAC) said in a statement on monthly cotton scenario. The ICAC said that on June 12, the USDA increased 2012-13 export estimate to three million tons due to continued strong sales to China, and lowered the estim

Discount retailer Kmart has vowed to stick to its Bangladeshi clothing supplier, saying it is offering people a chance to get out of poverty, a Herald Sun report said on Tuesday. But Kmart managing director Guy Russo said the chain store had severed ties with 20 factories earlier this year after an internal review detected that they were in "high-risk environments". Quoting Mr Russo, the report said Kmart would continue working with 30 garment makers which employed thousands of people. "Aba

Textile Raw Material Price 2013-07-03 Item Price Unit Fluctuation Date Oil WTI 96.55 USD/Barrel -0.01 2013-07-03 PX 1438 USD/Ton 2 2013-07-03 PTA Buy 7700 RMB/Ton 100 2013-07-03 PTA Sell 1060 USD/Ton 5 2013-07-03 MEG Buy 7140 RMB/Ton 110 2013-07-03 MEG Sell 962 USD/Ton 14 2013-07-03 CPL Buy 18300 RMB/Ton 0 2013-07-03 CPL Sell 2370 USD/Ton 0 2013

Uniqlo Japan same-store sales increased by 20.5 percent year-on-year while sales at its own stores increased by 24.7 percent in June 2013. Total sales including online sales increased by 24.6 percent. Same-store sales rose year-on-year in June, thanks in part to the favourable weather, as well as due to strong sales of the summer items featured in our latest advertising campaign. Uniqlo opened five stores and closed three during the month. Fast Retailing is a holding company of the specialty r

The French financial market regulator has fined LVMH a record 8 million euros for failing to inform markets it was raising its stake in elite handbag and scarf maker Hermès. The world’s largest luxury group has already stated it plans to appeal, calling the decision and size of the fine levied "totally unjustified". “In a decision handed down on 25 June 2013, the AMF Enforcement Committee imposed a 8 million euros financial penalty on LVMH. The company was accused of failing to inform the marke

SOWING of two Kharif crops — cotton and rice — are in full swing in Sindh. However, farmers fear that they may not only miss the cotton sowing target, the yield may be low as well. More farmers are turning towards rice cultivation. According to Sindh Agriculture Department officials, 550,001 hectares out of the targeted area of 650,000 hectares for cotton were brought under cultivation till the end of June. The crop is still being sown in upper Sindh due to late availability of irrigation wat