|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1285.46 |
USD/Ton |
1.14% |
2/14/2017 |
|
VSF |
2498.30 |
USD/Ton |
1.18% |
2/14/2017 |
|
ASF |
2149.70 |
USD/Ton |
1.37% |
2/14/2017 |
|
Polyester POY |
1309.43 |
USD/Ton |
0.17% |
2/14/2017 |
|
Nylon FDY |
3544.10 |
USD/Ton |
0.41% |
2/14/2017 |
|
40D Spandex |
4793.25 |
USD/Ton |
0% |
2/14/2017 |
|
Polyester DTY |
5621.18 |
USD/Ton |
0.52% |
2/14/2017 |
|
Nylon POY |
1525.13 |
USD/Ton |
0% |
2/14/2017 |
|
Acrylic Top 3D |
3326.23 |
USD/Ton |
0% |
2/14/2017 |
|
Polyester FDY |
2294.95 |
USD/Ton |
0% |
2/14/2017 |
|
Nylon DTY |
1612.28 |
USD/Ton |
0% |
2/14/2017 |
|
Viscose Long Filament |
3747.45 |
USD/Ton |
0.39% |
2/14/2017 |
|
30S Spun Rayon Yarn |
3122.88 |
USD/Ton |
0% |
2/14/2017 |
|
32S Polyester Yarn |
1917.30 |
USD/Ton |
0.38% |
2/14/2017 |
|
45S T/C Yarn |
2701.65 |
USD/Ton |
0% |
2/14/2017 |
|
40S Rayon Yarn |
3268.13 |
USD/Ton |
0% |
2/14/2017 |
|
T/R Yarn 65/35 32S |
2338.53 |
USD/Ton |
0% |
2/14/2017 |
|
45S Polyester Yarn |
2048.03 |
USD/Ton |
0% |
2/14/2017 |
|
T/C Yarn 65/35 32S |
2294.95 |
USD/Ton |
0% |
2/14/2017 |
|
10S Denim Fabric |
1.34 |
USD/Meter |
0.22% |
2/14/2017 |
|
32S Twill Fabric |
0.83 |
USD/Meter |
0.17% |
2/14/2017 |
|
40S Combed Poplin |
1.17 |
USD/Meter |
0% |
2/14/2017 |
|
30S Rayon Fabric |
0.67 |
USD/Meter |
0% |
2/14/2017 |
|
45S T/C Fabric |
0.67 |
USD/Meter |
0.22% |
2/14/2017 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.14525 USD dtd. 15/02/2017)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Rao on Tuesday instructed officials concerned to initiate all measures for the welfare of weavers in the State and also asked them to formulate an exclusive and comprehensive plan for them. Chief Minister K Chandrashekhar Rao on Tuesday instructed officials concerned to initiate all measures for the welfare of weavers in the State and also asked them to formulate an exclusive and comprehensive plan for them. The Chief Minister, at a review meeting at Pragathi Bhavan, recalled that a majority of handloom weavers used to depend on weaving in the past but due to lack of patronage of handlooms, some of them left the profession and some, unfortunately ended their lives, as they could not take up any other profession for a living. “A majority of the handloom weavers are working as daily wage labourers in the powerloom industry now,” the Chief Minister observed, and sought a policy and an action plan to bring light in their lives. Stating that the handloom sector was in a crisis, Rao stressed the need to create a market for their products. The government should place orders for handloom products, and handloom weavers should be given bulk orders pertaining to school uniforms, uniforms of police personnel, clothes required for hospitals and blankets for government hostels, he said, adding that adequate work should also be given to the powerloom sector. “Give subsidy to yarn and buy existing stock stocks from the weavers, and support weavers who are in search of an alternative profession. Bring in a comprehensive plan, which will instil confidence in them that the government is there to help them,” the Chief Minister said. “Narayanpet, Gadwal and Pochampally are known for their beautiful hand-woven silk sarees. These brands have an international market and they should be given support and help,” he said, recalling that in the past, Gollabhama sarees from Siddipet used to be on sale in Hyderabad. “Such specialty brands should be encouraged and their past glory restored,” he said. Stating that there was no dearth of funds for the welfare of weavers and workers, Rao said: “We will also extend help to the powerloom sector but it will be mainly on the welfare of the workers.” Chief Advisor to the government, Rajiv Sharma, Principal Secretaries S Narsing Rao, Shanti Kumari, Director Sailaja Ramaiyer, Advisor HK Chary, Joint Director Srinivas Reddy, DD Ramgopal and other officials participated in the review meeting.
Source: TelanganaToday
Stating that their wage which was reduced recently be restored, over 100 workers of power loom units involved in producing polyester materials observed one day fast at Pallipalayam here on Monday. Workers in Ayakattoor and Anna Nagar areas were involved in producing the materials in over 300 looms. They were paid based on the metres they weave. Recently, their wage was reduced by 50 paise per metre which workers say would reduce their monthly wage by Rs. 1,700. Demanding the revision, they began their indefinite strike from January 23. They announced starting of ‘kanji thotti’ protest. However, labour department officials intervened and held talks with the protesters. But talks failed as workers continued their protest. On Monday, they observed one day fast at Pallipalayam. Kumarapalayam Tahsildar invited them for talks.
Source: The Hindu
A critical anti-profiteering clause in the draft Goods and Services Tax law to ensure that the benefit of lower taxes gets shared with consumers is likely to be finalised at the 10th meeting of the all-powerful GST Council this weekend. The Council, headed by Finance Minister Arun Jaitley and comprising representatives of all states, is also likely to finalise the definition of 'agriculture' and 'agriculturist' as well as the constitution of a 'National Goods and Services Tax Appellate Tribunal' to adjudicate on disputes. Officials said the Law Ministry has sent the approved language and draft of the model GST Law, which outlines how the new national sales tax will be levied on goods and services. The law ministry-approved draft and the language would be first discussed by the Council's sub-committee comprising central and state officials on Friday before the Council takes it up at its 10th meeting scheduled to be held in Udaipur on February 18. If the GST Council approves the revised draft in its meeting on Saturday, the government will attempt to present it before Parliament in the second half of current Budget Session next month, officials said. The Government is keen to roll out the new regime from July 1 but for that, it will have to get two laws - the Central GST (CGST) Act and Integrated GST (IGST) Act approved by Parliament and each of the state legislatives have to pass the State GST (SGST) Act. The model law, to be discussed by the Council this weekend, provides a common draft of CGST Act, SGST Act. Besides, there is an IGST law as well as Compensation law. Officials said the government is keen that benefit of lower taxes is passed on to consumers and so an anti- profiteering measure has been incorporated into the draft law. It provides for constituting an Authority to examine whether input tax credits availed by any registered taxable person, or the reduction in the price on account of any reduction in the tax rate, have actually resulted in a commensurate reduction in the price of the said goods and/or services supplied by him. Supposing a good or service is to be levied with a GST of 5 per cent. But in course of the supply, a 20 per cent tax is paid, whose input credit is taken. So the final consumer will be levied only 5 per cent tax and not 25 per cent as input credit of 20 per cent is already taken, an official explained. "This has to be declared at the time of filing returns by the taxpayer," the official said. The taxable event under GST is a supply of goods and services. The place of supply of goods is the place where the goods are delivered, except in few cases.
Source: INDIAN EXPRESS
The government is organizing a three day Textile India Conclave and Exhibition in Gujarat which will be a big platform for industry players to showcase their products, said textile secretary, government of India, Rashmi Verma during a regional conference on textiles in Ahmedabad on Monday. Prime Minister Narendra Modi will be inauguarating the three-day global textile industry event. Big players of the textile industry, who source from India, chief operating officers (CEOs) and industry leaders are expected to participate in the global textile industry event. There will also be business-to-business (B2B) meetings to interact with textile and apparel industry representatives about the Rs 6,000 crore special package announced for the sector. Even six months after the package was announced, it has found few takers as too few applications for benefits have been received. According to senior government officials at the industry interaction, the package has not taken off as was expected. The scheme was launched six months ago, after accommodating suggestions and demands from the industry. But it has not been translated into an increase in investment, employment generation or more exports, Verma said. The interaction was aimed at understanding the reasons for the lukewarm response. The government is also planning to reach out to industry players by meeting associations and camps to further explain what the package constitutes. Verma further added that not everyone is aware of the scheme. Awareness needs to be raised. They have asked the state government to chip in. Textile India Conclave and Exhibition is scheduled to be held from June 30 to July 2, 2017 at Mahatma Mandir in Gandhinagar Gujarart.
Source: Fibre2fashion
Backed by consumption demand and government spending, India’s gross domestic product (GDP) will grow by 7.4% in FY18 from 6.8% in FY17, India Ratings (Ind-Ra) said in its forecast on Tuesday. The gross value added of the three production sectors — namely, agriculture, industry and services —would grow at 3%, 6.1% and 9.1% y-o-y, respectively, in FY18, the rating agency said in its Macro Economic Outlook. While private final consumption expenditure is expected to grow at 8.9%, the government’s final consumption expenditure is expected to clock 9% growth in FY18, it said. Ind-Ra has revised down its GDP growth estimate for FY17 to 6.8% from 7.9%, which is lower than Central Statistical Organisation’s advanced estimate of 7.1%. On the Union Budget FY18’s fiscal deficit target of 3.2% of GDP, it said achieving the target looks plausible.
Source: Financial Express
India’s annual rate of inflation, based on monthly wholesale price index (WPI), increased to 5.25 per cent for January 2017 over corresponding month of the previous year. Build up inflation rate in the financial year 2016-17 so far stood at 5.31 per cent compared to a build up rate of minus 0.40 per cent in the same period of the 2015-16. Annual rate of inflation was 3.39 per cent for December 2016 and minus 1.07 per cent in January 2016. Meanwhile, the official WPI for all commodities (Base: 2004-05 = 100) for the month of January, 2017 rose by 1 per cent to 184.6 from 182.8 for the previous month, according to the provisional data released by the Office of the Economic Adviser, ministry of commerce and industry. The index for manufactured products (weight 64.97 per cent) for January, 2017 rose by 0.5 per cent to 158.8 from 158.0 for the previous month. The index for textiles sub-group also rose by 0.5 per cent to 142.3 from 141.6 for the previous month due to higher price of gunny and hessian cloth (4 per cent), cotton yarn and jute sacking cloth (2 per cent each) and tyre cord fabric and man-made fabric (1 per cent each). However, the price of jute sacking bag (1 per cent) declined. The index for primary articles (weight 20.12 per cent) declined by 0.2 per cent to 255.7 from 256.3 for the previous month. On the other hand, the index for fuel and power (weight 14.91 per cent) rose by 4.7 per cent to 201.2 from 192.1 for the previous month due to higher prices of coking coal, aviation turbine fuel, furnace oil, high speed diesel, petrol, bitumen and kerosene. Meanwhile, the all-India consumer price index (CPI) on base 2012=100 stood at 3.17 (provisional) in January, 2017 compared to 3.41 (final) in December, 2016 and 5.69 in January, 2016, according to the Central Statistics Office, ministry of statistics and programme implementation. (RKS)
Source: Fibre2fashion
Viscose has been a fibre loved by consumers on account of its excellent attributes of comfort, fluid drape and aesthetic appeal, say Ajay Sardana and Amit Dayal. Made from a renewable natural resource - read, wood pulp - viscose has been a preferred choice across applications like women's fashion wear, menswear in blends and in home textiles. Why Dope-dyed Fibres? Wet processing, a common step in the textile industry, has the potential to cause a significant impact on the environment and on human health. Large amounts of chemicals and dyes are used in wet processing resulting in effluents with a complex chemical composition. The cellulosic textile industry consumes a large quantity of water in wet processing operations like desizing, scouring, mercerising, bleaching and dyeing during conversion of fibre to fabric. The last decade has seen growing concern about environmental issues which have increased manifold because of increasing industrial pollution, waste problems and effects of global warming. Dope-dyed viscose is one of the solutions to reducing environmental pollution and waste water discharges in the textile industry. Benefits of Dope-dyed Viscose: 1. Sustainability To verify this, a qualitative life-cycle assessment between viscose dope-dyed knitted fabrics and viscose piece-dyed knitted fabrics has been completed by the North India Textile Research Association (NITRA). It is clear from this independent study that:
• Greenhouse gas emissions are reduced up to 20 per cent by using spun-dyed viscose, compared to the conventional dyeing of viscose.
• Waste water generation is reduced up to 10 per cent and a significant reduction is noticed in heavy metal concentrations in the effluent generated by spun-dyed viscose.
• By adopting dope-dyeing, less chemicals and energy are needed as the process is short and less waste water is generated. This enables direct savings on production costs and ensures substantial reduction of the environmental footprint of the final products.
2. Quality - Dope-dyed viscose based fabrics have better wash and perspiration fastness (rating of 4-5 for both wash and perspiration fastness against rating of 3 for piece-dyed fabrics) against piece-dyed viscose fabrics though there is no significant difference in rubbing and sublimation fastness.
3. Cost - Apart from the above, dope-dyed viscose fabric is about Rs 15-20 per kg cheaper compared to piece-dyed viscose. 4. Ease of processing - As fibre is already dyed, the process of dyeing is completely eliminated leading to saving a large amount of resources such as water, energy and chemicals. This results in less loading of effluents into the environment. 5. Regulations - In a recent development, China is planning to introduce an environmental tax on printing and dyeing companies. The law, to enter into force on 1 January 2018, will be key to fighting pollution. The law will target enterprises and public institutions that discharge listed pollutants directly into the environment. So, dope-dyed viscose can be helpful to manufacturers using piece dyeing processes and facing the issues of environmental pollution, shade consistency and cost in their production. Dope-dyed fibre can be a significant part of the solution to all such problems. Applications of dope-dyed viscose: Dope-dyed viscose applications include dress pants, work wear, uniforms, leggings, knitted tops, thermal wear, carpets and nonwoven wipes. In all these applications, consumers will value the benefits of dope-dyed fibres through their enhanced performance and the conservation of scarce natural resources. About the authors: Ajay Sardana is chief sustainability officer at Grasim Industries Ltd., Aditya Birla Group. He has rich experience of more than 20 years in the global textile industry. He heads customer and market intelligence, liaison and sustainability of pulp and fibre business of Grasim. Amit Dayal, is AVP of the textile research and application development centre at Grasim Industries Ltd., Aditya Birla Group, has over 20 years' experience in areas including application development, customer value propositions, seasonal collections, technical storylines for product and market promotion.
Source: Fibre2Fashion
The Government is taking the following important steps to promote brand image of Indian handicrafts including Handmade Carpets & other floor coverings in global markets: 1. Market Development Assistance (MDA) Grant and Market Access Initiative (MAI) Assistance for participation in Fairs & Exhibitions/Reverse/ Buyer-Seller Meet in India & abroad. 2. Assistance for marketing study branding/ International publicity participation in Fairs & Exhibitions Buyer-Seller Meet in India & abroad etc. through Marketing and other Scheme. 3. Thematic display and live demonstration of crafts by Master Craftspersons in exhibitions abroad. 4. Organizing Indian Handicrafts & Gifts Fair twice a year besides product specific shows.The above information was given by the Union Textiles Minister Mrs. Smriti Zubin Irani in a written reply to a Rajya Sabha recently.
Source: Tecoya Trend
The world’s first and only Marathon Run connected to the textile industry is being organised by Sasmira Alumini Foundation (SAF) in Mumbai informed Mr. Sharad Tandon President Sasmira Alumini Foundation (SAF) here.Addressing a half-day seminar in Bhiwandi organised by SAF and Sasmira Powerloom Centre with aim to provided technical knowledge on various topics as well as new investment opportunities available in textile sector Mr Tandon informed that the Marathon will be held in city “Importance and Developments in Modern Weaving Preparatory”. He mentioned that weaving preparatory is heart of weaving and good warp preparation is half weaving. Mr. Shah introduced the various verticals and collaborations with foreign technology partners of Prashant group such as Prashant Gamatex Prashant Westpoint Prashant Ferber and Prashant Texmach. Further Mr. Shahank Pandey from Regional Office of Textile Commissioner Navi Mumbai briefed about various government policies to support Indian textile entrepreneurs. There are around 79 schemes to boost the textile sector. He discussed about Amended Technology Up-gradation Fund Scheme (ATUFS) Scheme for Production and Employment Linked support for Garmenting & Made-ups Units under TUFS(SPELSGU) various Power loom schemes Scheme for Integrated Textile Parks (SITP) and Integrated Skill Development Scheme (ISDS) Mr. Avinash Mayekar MD & CEO Suvin Advisors presented on topic of the “Investment and Diversification Opportunities in Textiles”. He urged the entrepreneurs in & around Bhiwandi region to show the interest in investing high profit making Technical Textile (TT)sector rather than investing into conventional textiles which is running at very low margins. There are around 12 segments of technical textiles which have ample opportunities for investment. In fact the existing set up can also be modified for producing the TT products after minor modifications in current technologies.
Source: Tecoya Trend
Optimistic about market scenario, Aniruddha Deshmukh, MD & CEO, Mafatlal Industries says “We really see a good opportunity in the market.” Mafatlal does B2B and B2C trade and also direct selling to end consumers. He says “These days, consumers are attracted towards innovations. They come to the market to see new offerings. In fashion business, you can’t sell if the product is the same as trends change fast and you have to keep pace with this change. You are supposed to innovate consistently,” Deshmukh explains.
Innovations, the way ahead
Deshmukh says in women’s wear, there are a lot of prints in the market. Viscose has good demand. “In denim, we are making good movement. We are seeing growth in high-end fashion denim.” Similarly, in white fabric, people are looking for more varieties. Mafatlal has introduced dobbies keeping demand in mind. Talking about maintaining lead, he adds, “There is distribution channel since we are into B2B and B2C both, we have to be aligned with brands and end consumers. Supply and value chain is another area to work on. Supply chain efficiency and on time delivery matters a lot to stay ahead. Competition is there, all you need to do is find your niche, and start dominating the market.” Mafatlal Industries is into denim and shirting, as well as school uniform and ready to stitch clothing. “In shirting, we are the leader in white fabric category, which is used for shirting, kurta payjamas etc. Then comes polyester cotton and cotton blends, we do fair amount of prints too such as cotton and viscose prints. We are number one in school uniform segment. We do corporate as well and are leading in this segment. And we are well established in ready to stitch segment,” informs Deshmukh.
Domestic demand a big plus
Since textile does not come under any taxation, the only uncertainty is GST and its applicability on the sector. Rest everything is almost certain, opines Deshmukh. The sector has potential as textile is an essential sector and has to grow. What is needed at this point is how we can generate more employment and contribute to the growth of the sector. “The government is taking a number of initiatives for the betterment of the sector, especially garment sector. States are setting up textile parks and policies to encourage growth,” he avers. Talking about other Asian competitors he says, “Countries such as Bangladesh and Vietnam have big scale setups. They are connected well with overseas companies, and are doing a good job. But the fact of the matter is they don’t have domestic demand and this goes to our advantage. We have an equal opportunity in export and domestic market. Since China is dipping in some areas, it is good for India and we should capitalise on it.” India needs to boost its exports and domestic markets, he feels. “China is giving us space and we should utilise it. We are the second largest in the world after China in textiles. Indeed Bangladesh and neighbouring countries are growing well in garmenting sector but as far as textiles are concerned, we have the potential to be a global leader,” Deshmukh sums up.
Source: Fashion United
The government on Tuesday said the ‘America First’ call of US President Donald Trump was not a concern for India or the ‘Make in India’ programme. Responding to media queries if Trump’s ‘America First’ would come in the way of ‘Make in India’ and stop US firms from participating in the programme, defence minister Manohar Parrikar said: “You should have put this question to Boeing, they are there at the exhibition… Boeing, Lockheed Martin etc. What I will say is what I want… I want you to make in India if someone wants to shift production to someplace else, it is his choice.” “I am not concerned,” he said, adding that he has so far just heard of it, and there has been no official communication from the US government. Explaining it further, the minister said: “The OEM (original equipment manufacturer) helping a strategic partner will need their government’s approval. If they are proposing something, their government will give them in-principle approval so that they can quote. The company will not be able to quote, maybe their some other branch will quote.” Civil aviation minister Ashok Gajapathi Raju, meanwhile, said Boeing was already manufacturing beams in Nagpur, and HAL is making doors for Airbus. “Aviation manufacturing is crossing a lot of countries, so it is better to ask the companies what their stand is,” Raju said. Parrikar also announced that the decision on many big-ticket projects like procuring the much-awaited fighter jet planes and self-propelled guns is likely to be taken this year. He said work on a second manufacturing line for indigenously developed Light Combat Aircraft Tejas will also commence in the next three months to boost production. “Many of the private-sector projects like SP (self-propelled) gun, C-295 (Airbus transporter aircraft) and even single and twin-engine fighter jets are in an advanced stage of decision making. We expect to get these in line during the current calender year,” he said in response to a question. Parrikar said HAL has been asked to outsource in “large quantity” several production areas in various sectors. “For example, for the LCA model we are putting up a second (production) line for which R359 crore has been approved by the government. It is expected this work will start in three months. “In about one-and-a-half years the actual production will start. A lot of indigenous capability has to be developed through the local industry,” the defence minister said. While inaugurating the 11th edition of Aero India, Parrikar earlier said: “We encourage Indian companies in defence manufacturing, but we would also like to encourage foreign companies. The government is working on ways to increase private player participation in defence manufacturing.”
Source: Financial Express
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 54.79 per barrel (bbl) on 14.02.2017. This was lower than the price of US$ 54.87 per bbl on previous publishing day of 13.02.2017. In rupee terms, the price of Indian Basket decreased to Rs. 3667.79 per bbl on 14.02.2017 as compared to Rs. 3674.49 per bbl on 13.02.2017. Rupee closed stronger at Rs. 66.94 per US$ on 14.02.2017 as compared to Rs. 66.97 per US$ on 13.02.2017. The table below gives details in this regard:
|
Particulars |
Unit |
Price on February 14, 2017 (Previous trading day i.e. 13.02.2017) |
Pricing Fortnight for 01.02.2017 (Jan 12, 2017 to Jan 27, 2017) |
|
Crude Oil (Indian Basket) |
($/bbl) |
54.79 (54.87) |
54.03 |
|
(Rs/bbl |
3667.79 (3674.49) |
3680.52 |
|
|
Exchange Rate |
(Rs/$) |
66.94 (66.97) |
68.12 |
Source: PIB
The apparel and textile industry is alive and well – and thriving – in Canada. That's the message of organizers of Canada's largest apparel and textile sourcing show, Apparel Textile Sourcing Canada (ATSC), which successfully debuted in Toronto in August 2016 with more than 200 booths of merchandise and in excess of 1,800 attendees. With Canadian imports of clothing, textile and footwear reaching an all-time high in 2016 of CAD $2.1 billion, ATSC has announced that it has secured a 50 percent increase in exhibit space at Toronto's International Centre for this year's show, which runs Aug. 21-23, 2017. According to show organizers, the decision to expand was driven by positive exhibitor and visitor feedback, strong attendance and a renewed commitment from international manufacturers and industry partners such as the Canadian Apparel Federation, TESTEX, WRAP, Brands for Canada and Fashion Business Inc. Produced by JP Communications, Inc., a North American publisher of business to business trade platforms TopTenWholesale.com and Manufacturer.com, the apparel, textile and fashion event is the first of its kind in Canada. It is also the first Canadian trade show to be launched by an online b2b trade platform, which "fueled the massive and engaged databases of TopTenWholesale.com and Manufacturer.com to help deliver a hugely successful event," said Jason Prescott, CEO of JP Communications. ATSC was introduced to provide Canadian businesses with the convenience of connecting with international suppliers on their home turf, Prescott explained. "Now, Canadian companies have the luxury of staying local and avoiding expensive and unnecessary international travel," he said. "The event connects Canada to the world of global trade, all in Toronto." A comprehensive trade show and conference, ATSC 2017 will bring to Canada hundreds of apparel and textile manufacturers from around the world, including China, India, Bangladesh, Pakistan, the U.S., the U.K., Mexico, Colombia, Peru and many more. Through an impressive platform of seminars and sessions, attendees can make global industry connections, and gain the insights needed to navigate the international sourcing process. New for 2017 will be a leading edge trends showcase featuring the latest and greatest in apparel and textiles and a high-profile roster of international speakers. A fashion show and design contest will also be held, featuring items available to be sourced at the event as well as fashions from local designers and students from many of the Toronto-based fashion schools partnering with the event for the second-consecutive year. "The Canadian market presents sizable investment opportunities for producers worldwide," Prescott said, citing reports that show the country's annual population growth holding steady at about one percent or more than 339,000 people and Ontario's population alone projected to grow by 30.1 percent, or almost 4.2 million for a total of more than 17.9 million, over the next 26 years. ATSC is supported by many international governmental associations headed by the China Chamber of Commerce for Import and Export of Textile and Apparel (CCCT) and the Bangladesh High Commission, led by Dewan Mahmud, First Secretary (Commercial) at Bangladesh High Commission. According to Jiang Hui, chairman of CCCT, the success of the premier edition of ATSC has given his organization "strong confidence" to bring an increased number of high-quality Chinese producers to the show in 2017. "The growth of the Canadian market and its unique business opportunities are attractive to Chinese manufacturers," he said. Exhibitor Trish Concannon, executive director of Fashion Business Inc., said, "ATSC in Toronto had impressive traffic, the seminars were all informative and well attended, and connections with great people were made. We look forward to returning again in 2017." For attendees such as Pamela Bokser, sourcing director for Giant Tiger Limited, with more than 200 stores in Canada, ATSC was a great example of Canadians supporting Canadian-based shows. "With an event like this, now I'm finally given the option to stay in Canada over travelling to other sourcing events abroad – I loved this show," she said.
Source: Apparel Magazine
Few large Chinese companies, including textile and garment manufacturing industries, have decided to invest in Ethiopia in the first half of the current Ethiopian budget year. The investment has come after the Ethiopian Investment Commission (EIC) started according priority to large, effective companies that can offer more and quick employment. Following the new strategy, Ethiopia has managed to attract investment from ten large Chinese companies, according to EIC commissioner Fitsum Arega. About half of these are in textile and apparel manufacturing, and this includes Jiangsu Sunshine Group, which has decided to invest nearly $1 billion in Ethiopia. The decision by the Chinese companies to invest in Ethiopia clearly shows that the East African nation has continued to become a favourable investment destination, Arega told Ethiopian news agency. Speaking on the change in EIC’s strategy in attracting foreign investment, Arega said, “The ongoing direction is not focusing on increasing number of participants coming in the name of investors. Rather the country prioritised attracting some but large, effective companies which can meet the targets of both the company and the country.” Competitive wages, trainable workforce, ongoing infrastructure development, fast growing economy, government support and favourable investment climate are among the factors that attract large companies to invest in Ethiopia. “We recommend any investor worldwide to invest in Ethiopia because of its economic, political, and social stability, which is enthused by incredible government commitment and incentives towards the textile sector,” says Osman Basoglu, general manager of Etur Textile Plc, a part of Yuskel Group, on EIC website.
Source: Fibre2fashion.
Switzerland-based UNI Global Union and other international labour rights body have voiced concerns over the “deteriorating situation in practising trade unions in Bangladesh as the government resort to punitive crackdown on labourers.” “Trade union offices ransacked and vandalised, leaders arrested and imprisoned, workers and organizers in hiding for fear of retribution - this is the face of Bangladesh’s punitive crackdown on labour,” read an article the UNI Global Union released on its website on Monday. The article went on saying, “The situation is deteriorating further - 9 trade union members were arrested over the weekend in Chittagong. They were released, but the charges have not been dropped.” UNI and IndustriALL, along with the international labour organisation, joined together to condemn the suppression of organised labour in Bangladesh. Since December, over 35 trade unionist leaders, organisers and workers have been arrested and detained for taking part in protests, according to the UNI. “We are fighting back to gain the release of the jailed workers and insist on basic trade union rights in Bangladesh,” said Philip Jennings, general secretary of UNI Global Union. “The government is acting unfairly and arrogantly. This repression is ultimately damaging to their number one export earner.” IndustriALL’s general secretary, Valter Sanches, said, “We demand the government stops this shameful repression of trade unionists in Bangladesh. The government must drop the charges and release all those still detained. By continuously flouting international laws on trade union and worker rights, it is seriously risking its most precious asset - the garment industry.” UNI is coordinating a campaign together with IndustriALL and ITUC to defend trade unionists and end the repression on trade unions in Bangladesh, said the article.
Source: Prothom Alo
The US and Japan imported garments and textile products worth US$15 billion from Việt Nam in 2016, the Việt Nam Textile and Apparel Association (Vitas) has said. - Photo nld.com.vn HÀ NỘI – The US and Japan imported garments and textile products worth US$15 billion from Việt Nam in 2016, the Việt Nam Textile and Apparel Association (Vitas) has said. This accounted for 53.5 per cent of the garment and textile sector’s export turnover of $28.3 billion last year. To meet its revenue target of $30 billion from exports in 2017, the sector will increase shipments to the US and Japan and maintain an export growth of 6 per cent in the two markets, Vitas said. In 2016, Việt Nam’s apparel market performed lower than expected, with exports bringing in $28.3 billion, or 90 per cent of the target, up 5.7 per cent year-on-year. Vitas attributed the low export turnover to fewer export orders because of fierce competition from foreign textile and garment producers as well as a decline in global demand. - VNS
Source: Viet Nam News
Annual cotton spinning capacity in China’s Xinjiang Uygur Autonomous Region has increased by 150 per cent year-on-year in 2016 to 15 million spindles, according to data from the regional conference on economy and information technology. Total textile sector investment in the region reached nearly 65 billion yuan ($9.39 billion) last year. Xinjiang is a major cotton production base in northwest China and the region produces about 60 per cent of China’s raw cotton. In June 2015, the State Council issued a guideline supporting the textile and garment industry in Xinjiang and hoped to increase local employment and boost exports. As a result of state support to the textile industry, 112,300 workers were newly recruited in the sector in the region in 2016, accounting for over 50 per cent of new industrial employment in the region, a Xinhua report said quoting an official in the region’s textile industry. For the current year, Xinjiang region is aiming to create over 100,000 new jobs in the textile sector through labour intensive projects such as garment manufacturing. This would be two-thirds of planned new jobs in the region’s industrial sector in 2017, or a quarter of all new jobs. In the past three years, Xinjiang region is estimated to have attracted more than 90 billion yuan investment in the textile industry, an amount equivalent to the total investment in the sector from 1978 to 2013.
Source: Fibre2Fashion
Egypt's most famous export, the silky soft cotton prized by makers of luxury bedding and clothing, has become so scarce as production has fallen, that most supplies sold under its brand name last year were fake. But a surge in local cotton prices ahead of next month's planting season, and a crackdown on ersatz Egyptian cotton worldwide, are reviving interest in cultivating the long-neglected crop. Farmers, spinners, and exporters say the weakness of the Egyptian pound following its flotation in November and a scandal over the alleged sale of falsely labelled Egyptian cotton have increased demand for the real thing, injecting life into a historic industry on its deathbed. Egyptian cotton output will be "between double and triple this year," said Ahmed Elbosaty, chairman of Modern Nile Cotton, a major cotton trading company. Last year, agricultural production of Egypt's high quality long-staple cotton hit a more than 100-year low. Production has slumped since 2011, a year of political upheaval that coincided with looser regulations that degraded the quality of local cotton, said Nabil al-Santaricy, head of the Alexandria Cotton Exporters Association. Faced with big losses, farmers burned their cotton crops, with many switching to rice. In a bid to save its historic crop, Egypt in 2016 banned all but the highest quality cotton seed, dramatically shrinking the area under cultivation but restoring quality. The U.S. Department of Agriculture estimates that in 2016-17 Egypt will produce 160,000 bales, half the previous year's crop and a fraction of the 1.4 million produced in 2004-05. Saved by Scandal With global stocks low, some foreign suppliers have mixed lower grade lint into yarns and fabrics, passing them off as Egyptian cotton, spinners and exporters said. The Cotton Egypt Association, which provides an official logo to suppliers of 100 percent Egyptian cotton, estimates that about 90 percent of global supplies of Egyptian cotton last year were fake. "When the manufacturer can write it's 100 percent Egyptian cotton, and everyone else does the same, why would he buy the actual Egyptian cotton?" said association head Khaled Schuman. The scandal hit the headlines last year when U.S. retail chain Target Corp accused Indian textile manufacturer Welspun India of using cheaper, non-Egyptian cotton in sheets and pillowcases. Retailers began reviewing whether to stop selling Welspun products and demanded that those offering 100 percent Egyptian cotton should show proof. "This whole thing revived interest in Egyptian cotton and increased demand," Santaricy said. Schuman said his association had received an "enormous number" of requests to use its logo, which guarantees quality, since the Welspun affair, with 20 companies signed up since December. "There's now more focus on selecting suppliers who use 100 percent Egyptian cotton ... Companies are telling us that 'we are required to get your license because we cannot sell our product without it'," he said. Following the scandal, Welspun, one of the world's largest textile manufacturers, announced an investigation into its supply processes. The company said last Thursday that the Cotton Egypt Association had granted it the right to use its logo through 2022 following a review of its supply chain. Welspun said it now plans to invest $3 million to market Egyptian cotton worldwide and may open a plant in Egypt. "We foresee an increase in demand for Egyptian cotton and find an ideal condition for making Egypt one of our hubs for sourcing and manufacturing Egyptian cotton products," Welspun said. Schuman says measures such as DNA testing and a system of international auditing will reduce imitation Egyptian cotton to 30 percent of world supply by the end of this year. Float to Fortune Exporters and spinners say one of the biggest challenges is supply: there simply isn't much Egyptian cotton. This is set to change. Farmers and exporters expect a comeback for the crop, spurred by the country's decision to float its currency, halving its value overnight but helping push local cotton prices sky high -- to about LE3,200 ( around $188) per qintar (160 kg) from LE1,200 a few months earlier. Also In Cyclical Consumer Goods "There was no hope in cotton until this season ... Now all the farmers are going to grow it," said Nile Delta farmer Maher Allam, who plans to quadruple his cotton area. Egypt's sunny skies and superior seed help it grow a cotton known for unusually long fibres that produce a light durable fabric with an attractive sheen and soft touch. Long-staple sells at 155 cents per pound, about twice the price of common, short-staple cotton. Its return to world markets could provide a lucrative export opportunity at a time when Egypt has a huge trade deficit and is seeking to relaunch its stagnant economy. "The 2016-17 season marked the beginning of the return of Egyptian cotton ... More farmers want to plant now, because the crop has become more competitive," said farmer Waleed al-Saadany, who is doubling his cotton planting this year. Spinning a Profit At Egyyarn, a yarn factory on the outskirts of Cairo, January was the first month its machines had run at full capacity in over a year, owing to a rise in demand. The plant, with humidity levels set high to preserve the soft touch of its long-staple cotton, produced 150 tons of yarn in January, up from 110 tons a month earlier. "Business was bad, but now with this new cotton, things have become different ... clients are increasing their contracts," factory manager Ahmed Hussein said over the steady swish of yarns whipping around spinning machines. Egyyarn was among the first to procure the new high quality crop, said Hussein, prompting the return of clients who had shunned the company because of quality issues. "Companies were going to India and Pakistan because the characteristics of Egyptian cotton were not great," said Khaled Moussa of Almatex, another yarn producer. Moussa said increased supplies would allow the company to increase exports just as the Welspun case and a better crop drive up demand. His company hopes to nearly double its exports over the next year to 3,000 tons. "The case exposed those who were bluffing and charging people for something they were not providing," he said. Reporting by By Arwa Gaballa and Eric Knecht Additional reporting by Zeba Siddiqui in Mumbai editing by Giles Elgood
Source: Reuters
Cotton growers in the US intend to plant the crop on 11 million acres this spring, up 9.4 per cent from 2016. Upland cotton intentions are 10.8 million acres, up 8.8 per cent from 2016, while extra-long staple (ELS) intentions of 266,000 acres represent a 36.9 per cent increase, according to the 36th Annual Early Season Planting Intentions Survey. “Planted acreage is just one of the factors that will determine supplies of cotton and cottonseed. Ultimately, weather, insect pressures and agronomic conditions play a significant role in determining crop size,” said Dr. Jody Campiche, vice president, Economics & Policy Analysis, at the National Cotton Council (NCC)—the organisation that carried out the survey. With abandonment assumed at 12 per cent for the US, Cotton Belt harvested area totals 9.7 million acres. Using an average US yield per harvested acre of 830 pounds generates a cotton crop of 16.8 million bales, with 16.0 million upland bales and 760,000 ELS bales, Campiche said at the NCC’s 2017 Annual Meeting in Dallas, Texas. The NCC questionnaire, mailed in mid-December 2016 to producers across the 17-state Cotton Belt, asked producers for the number of acres devoted to cotton and other crops in 2016 and the acres planned for the coming season. Survey responses were collected through mid-January. Campiche noted, “History has shown that US farmers respond to relative prices when making planting decisions. During the survey period, the cotton December futures contract averaged 70 cents per pound, which is higher than year-ago levels. Looking at competing crops, corn prices were lower than year-ago levels while soybean prices were about 12 per cent higher. The price ratio of cotton to corn is more favorable than in 2016.” The increase in cotton acreage is largely the result of weaker prices of competing crops, improved expectations for water availability in the West, and above average cotton yields in 2016. While current futures markets have increased since last year, many producers will continue to face difficult economic conditions in 2017. Production costs remain high, and unless producers have good yields, the higher price still may not be enough to cover all production expenses, the NCC delegates were told. (RKS)
Source: Fibre2Fashion
Sustainability facts and figures in the textile industry (Graphic: Business Wire)Multimedia Gallery URL LONDON--(BUSINESS WIRE)-- As initiatives to preserve the environment continue to grow and environmental friendliness becomes more important to consumers and companies worldwide, the global textile and apparel industry is seeing an increase in efforts towards sustainability. Details on how this industry is working towards an improved, healthier planet are some of this week’s featured stories on BizVibe, the world’s smartest B2B marketplace: Fruit-based textiles taking off Producing clothing from cotton and traditional materials requires a lot of resources and a lot of pollution. Creating just one cotton t-shirt and one pair of pants can take up to 5,000 gallons of water. The dyeing process uses more than half a trillion gallons of water annually, and results in the pollution of freshwater and natural habitats. To lessen the impact that textile pollution has on the environment, textile materials from unconventional sources are being introduced. Fruit-based textiles Textile and apparel wasteare seeing increased popularity in the textile and apparel industry, particularly textiles made from pineapple, coconut, and banana fibres. These materials use less resources, produce less waste, and benefit the environment overall. Innovative methods for textile recycling have emerged is a serious issue worldwide: more than 10.5 million tons of clothing ends up in landfills every year. The most common way to recycle textiles is simply to donate used clothing to charities or thrift shops, and around half of all donated clothing is worn again. However, there are now more options for textile recycling that will go a long way towards cutting down on waste from this industry. Recycled textiles are being used as fuel for both cars and planets, or made into a pulp from which new products can be produced. Healthy future in sight for organic cotton While cotton uses less than 3% of cultivated land, it accounts for around 11% of global pesticide sales. This heavy use of chemicals is detrimental to human health, and also damages the soil and land, reducing future cotton yields. In response to environmental, sustainability, and health concerns related to pesticide use, the organic cotton industry is set to grow significantly in the near future. Organic cotton has a smaller environmental impact, and can give companies an edge over their competitors. Additionally, organic cotton production requires less water and less energy, and creates less CO2. BizVibe is home to 50,000+ apparel and textile companies across 200+ countries, covering all sectors. The BizVibe platform allows you to discover the highest quality leads and make meaningful connections in real time. Claim your company profile for free and let the business come to you. About BizVibe BizVibe is home to over seven million company profiles across 700+ industries. The single minded focus of BizVibe’s platform is to make networking easier. Over the years, we've searched far and wide to figure out how businesses connect and enable trade. That first interaction is usually fraught with the uncertainty of finding a potential partner vs. a potential nightmare. With this in mind, we've designed a robust set of tools to help companies generate leads, shortlist prospects, network with businesses from around the world and trade seamlessly. BizVibe is headquartered in Toronto, and has offices in London, Bangalore and Beijing. For more information on the BizVibe network, please contact us.
Source: Yahoo Finance
Style House Limited, in partnership with Nigerian Export Promotion Council and Vlisco Nigeria a Nigerian subsidiary of the Dutch Wax Manufacturing company - Vlisco Netherlands B.V. to provide skills acquisition training II to skilled manpower for the apparel sector, create job opportunities and upgrade the technical skills to improve quality, productivity and efficiency level of the industry. The training is scheduled to start in February 2017 at the Human Capital Development Centre (HCDC). The Executive Director Nigerian Export Promotion Council Mr Segun Awolowo speaking on the HCDC skills acquisition training said that in recognition of the potential of the cotton, garment and textile sector, the Nigerian Export Promotion Council has embarked on some key initiatives to close the skills gaps in vocational activities, a major concern that the Nigerian Export Promotion Council (NEPC), is giving some attention through it’s partnership with Style House, a key stakeholders on the scene with the ultimate aim of correcting the skills deficit. Participants will be trained on industrial pattern making, garment construction and industrial training for on the job experience. Training will be for duration of 6 weeks at the Human Capital Development Centre in Apapa and application is open to people with an interest to learn and apply skills learned for employability in garment production. HCDC Skills Acquisition Training I, was a success. The participants were presented with their certificates in November after an 8 week training and industrial attachment which ended with a production by the participants of a capsule collection designed by Vasithwa for Lagos Fashion and Design Week X Retail in collaboration with Vlisco. Ten of the final trainees have completed their employment process with Crown Natures and are scheduled to start work this January. This project is first in a series of efforts by Style House to ensure that the apparel manufacturing workforce in Nigeria have access to high quality training, therefore creating a pool of well skilled garment production talent that can meet the increasing demand for made in Nigeria fashion. Speaking on the partnership, the Country Manager Vlisco Nigeria, Mr Adebisi Yeye-Adekunle said that Vlisco sees a future in the Nigerian Textile and Garment sector of the economy.
Source: Fibre2fashion
BEIJING - Innovation will drive environmental improvement in China's textile industry as it seeks to operate more sustainably and reduce its environmental footprint over the next decade – that was the message of the president of the China National Textile & Apparel Council (CNTAC) in a recent interview with Ecotextile News. Talking exclusively to the magazine for our tenth year anniversary edition, the views of Mr Sun Ruizhe chimed very much with the findings of our recent report – pictured – on China's textile industry which suggested the sector is using innovation to move towards the production of higher added value products and technical textiles. Mr Ruizhe was asked what he thought had been the biggest step forward for China's textile industry in terms of sustainability in the past decade. He told us: "I think the biggest step forward for environmental progress in China's textile sector is the innovation-driven sustainable development. Innovation-driven sustainable development includes three aspects. Firstly, energy conservation, emission reduction and environmental compliance as the basic duties for enterprises in the manufacturing process. Secondly, green manufacturing and green products have been the main trends in the transformation and upgrading of the Chinese textile industry. Finally, China has now adopted a key role in promoting the environmental progress of the global textile supply chain." We also asked him whether local enforcement of government environmental regulations was still a problem for the textile sector. He told us: "In 2016, the local governments have been paying more and more attention to environmental management."According to state laws and policies, local governments have taken many effective steps to promote local textile industries transformation and upgrading. Many industries were ordered to stop production for consolidation and industrial parks were built to enhance the concentrated manufacturing, energy conservation, emission reduction and pollution control. In addition to the State laws, many local governments have established provincial laws and industrial standards for green manufacturing."
Source: Eco Textiles
The textile and apparel industry in Canada is a well-established sector that has successfully transformed from traditional mass production to the development of technical and non-woven textiles. The shipment and the employment of Canada’s textile industry has declined over the last decade, due to the decrease of domestic demand and the shift to manufacturing technical textiles, which relies more on technology rather than on labour. But the textile and apparel market in Canada is still full of opportunities as Canadian imports of clothing, textile and footwear reached an all-time high in 2016 of CAD$ 2.1 billion, reported by Canada’s largest apparel and textile sourcing show, Apparel Textile Sourcing Canada (ATSC). According the data from the government of Canada, the textile manufacturing industry in Canada had a very slow growth in output between 2011 and 2015. Textile shipments grew by an average annual rate of 0.6% from 2011, reaching a total textile shipments of CAD$3.9 billion in 2015. The apparent domestic market for textile goods and products increased by CAD$1.4 billion between 2011 and 2015 however, the domestic market share for Canadian made textile products contracted by around 6% periods during the same period. The total imports and exports of Canada’s textile products both increased at a steady pace of 7.0% and 2.4% respectively between 2011 and 2015. High growth of imports resulted in a bigger trade deficit, which recorded at $4.3 billion in 2015. Moderate growth in the industry has been accompanied by a contraction in both employment and textile establishments. Between 2011 and 2014, the total number of textile companies contracted by approximately 16%, and total employment for the industry declined by an average annual rate of 1.9%. In 2015, around 17,600 workers were employed in Canada’s textile manufacturing sector. When it comes to Canada’s apparel industry, a negative growth has been seen in the sector over the last five years, as the total apparel shipments decreased by 4.0% since 2011, down to CAD$2.4 million in 2015. The total value of apparel products made in Canada continues to decrease while apparel imports continue to increase. Since 2011, apparel imports have increased by 8.3% year on year to total CAD$12.5 billion in 2015. Between 2010 and 2014, the total number of apparel manufacturers contracted by approximately 12%. In 2015, around 20,000 workers were employed in Canada’s apparel manufacturing sector. Despite the slowdown in overall Canada’s textile and apparel industry, the country still holds its position as one of the leading technical textile producers in the world. Canada’s technical textile sector has experienced rapid expansion over the recent years, due to an advanced level of the new techniques, technological advances in textile sciences, and stronger industry knowledge. The demand of technical textiles in Canada is also growing, especially in sectors such as aerospace, agriculture, construction and infrastructure, health care, marine, and defence. Currently, Canada is the second largest (behind Mexico) trading partner for U.S. exports of textiles and apparel. Several free trade agreements, such as the U.S.-Canada Free Trade Agreement, the North American Free Trade Agreement (NAFTA), as well as the previous Trans-Pacific Partnership Agreement have led to an increase in both trade and economic integration between Canada and the US. In 2015, U.S. textile and apparel exports to Canada totalled $5.25 billion, increased by 12.6% from 2008.
Source: ATSC
Rising labor, raw material and energy costs is making the world's dominant Chinese textile producers more expensive pushing international textiles buyers back to Western suppliers. More than 9,000 kms (5,600 miles) from Biella, in the bustle of the biennial Canton Trade Fair, some buyers said that they were moving away from China. They already buy 60 percent less from China compared to two years ago. Some companies are turning increasingly to Turkey for fabrics, because of quality, price and proximity to Europe. China's textile exports to the European Union grew a modest 1.4 percent in the first ten months of last year, but dropped 4.1 percent in October, according to Chinese data. In Zhuhai in China's industrial southern belt, middle-aged workers load bundles of white wool for washing and dyeing at a spacious, well-lit factory owned by Hong Kong-based Novetex Holdings, a supplier of wool and cashmere yarn to international brands including Burberry and Max Mara. The company employs about 1,100 workers during peak season, but rising wages mean it is now investing in more automation, and will cut two-thirds of its workforce in two years. The overall cake is smaller. Many agents and smaller factories have shut down, said director and CEO Milton Chan. According to data from China's National Bureau of Statistics, the Ministry of Industry and Information Technology, and the China Chamber of Commerce for Import and Export of Textile and Apparel, for sure, China remains a world leader in textiles: employing over 4.6 million people, contributing a tenth of GDP and with exports, including apparel, of $284 billion in 2015. But wages there have been rising at an annual compound growth rate of more than 12 percent, outpacing the economy, and are simply no longer cheap enough to compete just on price. At the same time, China's textiles sector faces rising costs of inputs such as cotton and wool, hefty import taxes for basic manufacturing equipment, and costlier environmental rules. The government's five-year plan for textiles, released in September, acknowledged that higher costs are weakening its international advantage, and it faces a 'double whammy' from developed countries - like Italy - with better technology and developing countries with lower wages. The labor cost gap between Italian and Chinese yarn narrowed by around 30 percent between 2008 and 2016, to $0.57 per kg from $0.82/kg, according to International Textile Manufacturers Federation (ITMF) data. The hourly wage for a Chinese weaver last year was $3.52, according to the ITMF, up 25 percent since 2014, though still a fraction of the more than $27.25 paid in Italy, an increase of 9 percent over the same period. When China's wages are not that low, the process of shipping materials so far to China and then shipping products back to Europe becomes a lot less attractive, said Shiu Lo Mo-ching, Chairman of Hong Kong General Chamber of Textiles Ltd and CEO of textile manufacturer Wah Fung Group. They'd rather take the production back to Europe. This trend has been very obvious. The proximity is also an advantage at a time when Western clothing brands are under pressure to offer more collections, and customers increasingly want customized looks. Their suppliers need to be closer, and faster. In China, supply chain is not close, and is scattered, giving (Italy) a competitive advantage, said Ercole Botto Poala, CEO of Italian textile producer Reda. Alessandro Brun, professor at the MIP Milan Politecnico, said that brands are also motivated by concerns over product traceability, and want to avoid potential reputational risk. While suppliers were reluctant to name specific brands they sell to, so as to protect business confidentiality, several international apparel firms are switching to Italian wool fabrics so they can name the mill they source from on labels to differentiate from rivals, producers said. Italian high-street brand Benetton said that it used yarn from Tollegno 1900 in a newly-launched Made-in-Italy line of limited edition seamless wool jumpers. Italy's textile imports from China have dropped 8.7 percent in the first 10 months of last year, to 347 million euros ($370 million), according to SMI, Italy's textile and fashion association while its exports to China have increased 2.8 percent to 165 million euros in the same period, though total textile exports last year dipped 2 percent to 4.3 billion euros.
Source: Fibre2fashion
Bangladesh is working towards forming a joint trade commission soon with Cambodia to expand bilateral trade and commerce between the two countries. Bangladesh is very close to finalizing terms for the commission and will most probably be signing agreement this year. The agreement will lower tariffs on imports. The countries reached the consensus at bilateral talks held last month between the top officials of the two governments, a ministry official confirmed. Senior Commerce Secretary Hedayetullah Al Mamoon said that they are going to form the joint trade commission with Cambodia to boost bilateral trade and commerce. The trade commission is aimed at creating a win-win trade relationship between the businesses of the two countries while both the government and private sector people will be engaged in the process to have the dream come true. A note verbal detailing the purpose of joint trade commission has been prepared, which would be sent to Cambodia for consideration through the Ministry of Foreign Affairs by this week, the secretary added. Focus would be given on removing trade barriers and easing the export-import process with the viable tariff rate. According to the Export Promotion Bureau (EPB) data, Bangladesh’s export earnings from Cambodia was only $4.37 million in the last fiscal year 2015-16 while in the first seven months of the current fiscal year, the earning stood at $2.77 million. The trade between Bangladesh and Cambodia amounts to $6.7 million per year. The main exports from Cambodia to Bangladesh include cotton, cooking oil and fertilisers, while the former imports garments, footwear and leather goods from the latter.
Source: Fibre2fashion
