China's May cotton imports fell 31% from a year earlier to 345,778 metric tons, the General Administration of Customs said Friday. January-May imports fell 17% to 2.14 million tons, it said. China is the world's largest cotton importer, sourcing most of its supplies from countries such as the U.S., Uzbekistan and Australia. Source: Dow Jones Newswires .

Designers, distributors and stockists of denim products from the US face a significant hit to margins after the European Union raised import duties. From May 1, all denim products imported to the UK and Europe from the US have been subject to a 38% duty – up from 12% previously. According to a notice sent out by HM Revenue and Customs (HMRC), denim products have been added to a list of goods that attract higher custom duties “in retaliation” to a 13-year-old piece of US legislation called th

Cotton price was improved on the back of decreasing supply and good demand of domestic mills. Moreover weak rupee position may encourage export demand for short term. Traders said that immediate supply concern and weak rupee were supporting domestic prices. Domestic supply position remained tight due to higher exports and strong local consumption. Traders said that if rupee sustain at current levels further export of 700,000-800,000 bales can not be ruled out. Gujarat Sankar-6 cotton was

Global cotton production is forecast to exceed consumption for the 4th consecutive year in 2013/14, but declining production and rising demand are expected to bring the market into closer balance. In 2013/14, the world cotton crop is forecast to drop 3 percent to 117.8 million bales, with gains in the Southern Hemisphere and South Asia more than offset by declines in the United States and China. Modest growth in world gross domestic product (GDP) is expected to boost cotton consumption in 20

US efforts to forge a “21st Century” trade agreement with Vietnam and 10 other countries in the Asia Pacific region are running into problems mired in the past, including a textile trade policy that US industry does not want to give up. The US hopes to finish talks on the proposed Trans-Pacific Partnership (TPP) pact by the end of the year, but Vietnam says the sides are nowhere close on its biggest priority: Market access for its clothing and footwear exports. The latest US offer “is really

Cotton prices in India are expected to fall this week as traders may book profit after recent gains and on the good progress of the monsoon, though dwindling supplies are seen restricting the downside. Rains have covered the entire country a month ahead of schedule, aiding sowing operations. Farmers have started sowing cotton, and the good progress of rains is seen accelerating sowing operations and improving the yield, traders said. "Profit-taking is expected in cotton futures this week. The

The TAL Group from Hong Kong plans to invest $200 million to produce fabrics, garments and textiles in Vietnam. This is the second project of its kind in Vietnam. During a recent working session in Hanoi with Deputy Minister of Planning and Investment (MPI), Cao Viet Sinh, TAL Hong Kong Development Director Roger Lee said that his group wants to expand its investments in Vietnam with a $200 million project to manufacture fabrics, garments and textiles. The products will be produ

Twelve Turkish companies are showcasing at the summer edition of Texworld USA, that will take place from 16-18 July. Alongside the Uludag Textile Exporters Association, they will present their new fabrics in a fully booked exhibition hall at the Javits Convention Centre, New York City. The Turkey Pavilion is said to add to the diversity of the trade show currently hosting 426 confirmed exhibitors from 17 countries and is sponsored by UTIB, the Uludag Textile Exporters Association based in Tur

Iraq's oil exports totaled 76.9 million barrels in May, down from the 78.7 million barrels of crude exported in the prior month, due to bad weather and sabotage, the oil ministry said Sunday. Petroleum exports generated $7.47 billion in May at an average price of $97.23, off from the $7.76 billion in revenues registered in April. Bad weather in the ports in southern Iraq and sabotage of the pipeline between the city of Kirkuk and the Turkish port of Ceyhan affected petroleum shipments, oil m

Apparel manufacturers are receiving about 30 to 35 per cent less orders than that of the previous year during the present spring summer season from both the USA and the European markets as fallout of Rana Plaza catastrophe. Industry insiders said many of the buyers are shifting their orders to China, India and Vietnam although they continue placing orders to Bangladesh's readymade garment (RMG) factory owners in lower volume than that of the previous year. "The orders for spring summer seaso