The textile and garment sector’s profit could decrease due to increases in fuel, transport and labor costs Vietnam Textile and Apparel Association (VITAS) General Secretary Dang Phuong Dung said at a recent Ministry of Industry and Trade meeting that the textile and garment sector ranked second in terms of export value in the first four months of this year. The sector exported goods worth US$1.3 billion in April, taking the total in the first four months of 2013 to US$5.1 billion (an inc

China's cotton reserves were estimated to stand at 5,820 bales this year, accounting for 63 percent of the world's total, the United States Department of Agriculture said in a report. A bale is a standard unit of measurement for cotton and is equivalent to approximately 226 kg. The government admitted to having “a high level of reserves” but did not divulge the exact figure. The USDA also estimated that global cotton consumption will grow by 2 percent this year, the third consecutive ye

Bangladeshi garment workers | AFP PHOTO/Munir uz ZAMAN/FILES Swedish fashion company H&M is contemplating to launch production in South America and Africa, as CEO Karl-Johan Persson told the Financial Times in an interview published today. His interview come less than a month after the collapse of the building in Bangladesh that brought to light the poor working conditions of the garment industry. As Mr Persson stated: "When that part of the world is growing, which it is, it become

In the first quarter, China exported an aggregate of US$ 35.3148 billion of clothes and accessories, up 19.4 percent compared with the same period of last year; in March, international cotton price skyrocketed, with the difference between international price and domestic price once narrowing down to RMB 2,305 Yuan/ton. Even with weak foreign demands, growth of export has exceeded market expectation. Recently, the difference between international cotton price and domestic cotton price has shrunk,

Cotton prices remained unchanged on the back of domestic buying support. According to traders, exporters were out of the market and only south Indian mills were active in the market. Gujarat Sankar-6 cotton was traded at Rs 37,200-37,500 a candy of 356 kg. Mill delivery price was Rs 37,700-37,800 . V 797 cotton A grade was offered at Rs 27,000-27,300. Kapas or raw cotton marginally increased by Rs 5 to Rs 950-992 for 20 kg and Kadi delivery kapas at Rs 975-995. Low Arrivals Ab

The wool market is finally heading in the right direction with prices rising for the second week in a row. The Eastern Market Indicator crashed through the 1000 cents a kilogram to 1022, with the pass in rate slightly higher at 4 per cent. Simon Seppelt, from Quality Wool at Jamestown says it's mainly due to the drop in the Australian dollar. Source: ABC News.

Myanmar women work at a garment factory in Yangon. The country's reinstatement to the EU's Generalised System of Preferences is expected to significantly boost its textile exports. (AP file photo) Myanmar is on course for a big jump in textile exports to Europe following the return of trade privileges by the European Union (EU), according to the Thailand Textile Institute. The lifting of the ban on Myanmar under the EU's Generalised System of Preferences (GSP) would rapidly drive up Myan

Gaoxian County in Yibin, Sichuan Province has signed an agreement with Silk Road Holding (Group) Co., Ltd. and Lihua Silk Co., Ltd. on setting up Yibin Silk Industrial Park with a total investment of CNY 350 million. The project is designed to build a spinning zone for producing annually 800 tons of high-quality raw silk with expected sales revenue of CNY 300 million, a weaving zone for producing annually 8 million meters of high-grade silk and satin and a functional zone for silk boiling and

Reliance Industries, the world's largest refiner, has restarted a 330,000 barrels per day crude distillation unit (CDU) on Monday following a shutdown last week for maintenance, traders said. The privately-run refiner operates two refineries in Jamnagar on the Arabian Sea with a total capacity of 1.24 million barrels per day (bpd). The CDU which was shut last week was located in the older, 660,000 bpd refinery. "The shutdown should have taken place before it sold a June naphtha cargo la

Ecuador's first quarter crude oil export revenue fell 4% from a year earlier to $3.38 billion due to lower oil prices, the central bank said Monday. The average price of crude in the three months fell 5% to $99.16 a barrel. By volume, Ecuador exported 34.14 million barrels in the first three months of 2013, up 1%. Crude oil is Ecuador's main export. All the oil is exported by Ecuador's state-owned companies. The central bank also said Ecuador produced 45.55 million barrels of crude oil fo