Iran exported $644 million worth of textile products during the first eleven months of the current Iranian calendar year (March 20, 2012-February 18, 2013), IRNA reported. Textile exports grew by 24 percent compared to the same period in the past year. Machine-made floorings, clothing, and threads were the main exported products. In October, 2012, Iranian industry ministry official Mehdi Eslampanah said that regional countries as well as the South America are the main targets for Iranian t

The US government on Friday cut its forecast of global cotton inventory for the marketing year to end-July due to expectations of higher demand as China, home to the world''s No 1 textile industry, continues to bulk up its strategic stockpile of fibre. In a monthly crop report, the US Department of Agriculture reduced its estimate for the surplus to 81.74 million bales, down 120,000 bales from last month''s forecast. It was the second reduction since the season started on August 1. If the new

Associations’ presidents unanimously decide to shut down textile sector if the imposition sales tax was not withdrawn. Owners of textile mills have closed down at least 150,000 power looms in protest against the imposition of 2 per cent sales tax on the sector. On Saturday, Council of Loom Owners’ Association (CLOA) chairman Waheed Khalid Ramay said the textile associations’ presidents had unanimously decided to shut down the textile sector if the imposition sales tax was not withdrawn.

India's cotton imports could jump by two-thirds to over 2 million bales in 2012/13, a top industry official said, as a seasonal output slowdown and stock building push domestic prices higher in the world's second-largest producer. India exported cotton in the first part of the year to September 30, as demand was amply covered by production, but it will turn to imports towards the end of the harvest period as supplies start to wane and domestic prices rise. "Cotton imports may exceed the target

An exhibition of Peru’s pre-Columbian textiles belonging to the Paracas, Nazca, and Chancay cultures will be on display at Chile’s Palacio La Moneda Cultural Center from March 14-16. Andean Paracas Textile on display at Peru's Museum of Archaeology, Anthropology and History. The 10 Peruvian heritage objects will participate in the exhibition named “Textiles Latinoamericanos” (Latin American textiles) and it will showcase 13 collections from 8 countries of the region. The textiles that will b

The five per cent value-added tax (VAT) levied by the Maharashtra government last year is posing a threat to the furnishing fabric and clothes industry in the state. The sector, which is operating with less than three per cent of margins, has started gradually moving to Gujarat to protect its interest as a home-grown, scattered and labour-intensive industry. The government of Maharashtra, through a notification in August last year, imposed the five percent VAT since September on furnishing fabr

South Africa’s cotton crop will probably be 7 percent greater than previously estimated this production year as higher rainfall will increase yields. Farmers in South Africa and Swaziland will probably harvest 34,000 lint bales in the year through July, Pretoria-based Cotton SA said today in a statement, up from last month’s estimate of about 32,000 bales. "We’ve had good rainfall in the cotton planting areas,” Chief Executive Officer Hennie Bruwer said by phone. “It will lead to a better cott

Ethylene prices weakened in Asian markets due to fading downstream demand. Upstream naphtha was also cheaper easing cost pressure on the ethylene chain. In Europe, spot ethylene prices responded to the lower price environment by moving down. In US, spot ethylene marginally changed, moving up a quarter-cent week on week. Asian paraxylene prices plunged dramatically amid persisting bearish sentiment. Downstream was also subdued erasing demand potential. European spot paraxylene prices also decline

Benzene prices tanked across all three major regions, with Asian benzene prices plunging tracking similar movements in US benzene markets, and were down sharply week on week. US assessment for spot benzene decreased, amid continued pressure from weakening European benzene levels and excess market supply. In Europe, reignited concerns over the domestic benzene demand, as well as a stubbornly closed arbitrage to the US, saw European spot prices plunge. Plunging raw material benzene prices and mo

Propylene prices fell in Asia on bearish downstream polypropylene, the fourth successive week of decline. In Europe, cautious sentiment pervaded in the propylene market as the energy complex continued to weaken. In US, spot refinery-grade propylene kept losing ground throughout the week. Asian acrylonitrile markets almost rolled over at high levels but sentiments were still as cost supports remained and overseas cargoes were limited. Demand lagged behind and spot trading activity was insipid. In