The value-added textile sector has drawn Mian Nawaz Sharif’s attention to the export of cotton yarn, the sorely needed raw material of the textile sector, at throwaway prices. In a letter to the incoming prime minister, Javed Bilwani, coordinator of the value-added textile sector, said Pakistan’s entire textile sector was itself in urgent need of cotton yarn. “Only value-added fine count cotton yarn should be allowed to be exported with monitoring of the price which should not be lower than

Pressure is mounting on India at the World Trade Organisation (WTO) to pare subsidies and incentives given to its textiles sector. The European Union and Japan have joined hands with the US and Turkey to demand that India stop giving fresh subsidies and gradually phase out the existing ones as the textiles sector had already achieved export competitiveness. India, however, maintains that many of the subsidies identified by the US and others are not subsidies and merely a reimbursement of inpu

The price of texturised polyester yarn, the benchmark yarn variety, has fallen from Rs 120 a kg in March to Rs 105 a kg, owing to the drop in the prices of PX, PTA and MEG. With the prices of raw materials such as paraxylene (PX), PTA and MEG dropping over two months, polyester yarn makers are heaving a sigh of relief. PX prices have fallen 11 per cent-- from $1,611 a million tonne (mt) on March 1 to $1,432.5 a mt. During the same period, PTA and MEG prices have dropped from $1,150 a mt to $1

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 year

The government on Friday assured the apparel industry that it would address issues relating to skill development and availability of credit to boost garment exports. These issues came up for discussion at inter-ministerial workshop which was held here under the Chairmanship of Cabinet Secretary Ajit Kumar Seth. In the meeting, garment exporters apprised the Cabinet Secretary about the issues hindering the industry's growth. These include high interest rates, costly raw materials, lack of skil

The Govt expects textile exports would grow by 15 per cent in 2013—14 as the demand from western markets is rising, says Minister of State for Textiles Panabaaka Lakshmi. The government on Friday said it expects textile exports to grow by 15 per cent in 2013—14, marking a turnaround for such shipments that declined by 4 per cent to $ 22.2 billion during April—February last fiscal. “We hope textile exports will do better this fiscal. It is expected that these exports would grow by 15 per c

Marriage and festival season are weighing heavy on powerloom weavers in the country's biggest man-made fabric hub in the city. They are facing acute shortage of textile workers even as there is an increase in the demand for fabrics, including saris and dress materials. Most of the migrant textile workers from Bihar, Uttar Pradesh, Andhra Pradesh and Orissa have not returned from their home towns after the expiry of their leaves. Industry leaders say at least 30 per cent of workforce is yet t

Central Chairman All Pakistan Textile Mills Association (APTMA) Ahsan Bashir has apprehended industry's sustainability under threat due to unprecedented energy supply disruptions to textile industry in Punjab. At present, he said, three days a week gas supply was being made to the textile mills in Punjab against five days a week during the corresponding period last year. Similarly, the textile industry is being subjected to 14-16 hours per day loadshedding of electricity now against total exem

Cotton prices in India are expected to be steady-to-lower next week due to sluggish demand from millers, tepid exports and sales from government reserves. Buying by local millers have declined in the spot market due to the poor quality of supplies, traders said. Daily cotton supplies have been around 60,000 bales. The Cotton Corp of India (CCI) would conduct auctions on Monday, Tuesday and Wednesday of every week with around 20,000-25,000 bales to be offered in a single sale. It is likely to r

Asian prices for monoethylene glycol are expected to remain under pressure this week because of record-high inventories, in spite of China's rebounding downstream polyester market, industry sources said Monday. MEG inventory levels in China have grown to 960,000-980,000 mt as of Monday, compared with 900,000-910,000 mt a week earlier, according to sources. Market participants consider inventories of 400,000-500,000 mt as healthy. MEG is a key feedstock for polyester. Sources said China's pol