347 lakh bales total cotton supply up to April 30, 2018 estimated by the Statistics Committee

News Tags: cotton corporation of India, cotton production, Cotton stock at the end of April 2018, cotton trade body, Ginners, Statistics Committee, Textile mills, total cotton supply

Ahmedabad
Summary: 
The country’s cotton consumption for the 7 months from October 2017 to April 2018 stood at 189 lakh bales with an average of 27 lakh bales per month. Exports are estimated at 61 lakh bales as on April-end.The Statistics Committee of CAI has projected total cotton supply up to April 30, 2018 at 347 lakh bales. This includes market arrivals of 311 lakh bales and imports estimated at 6 lakh bales, the CAI statement said.

The country’s cotton consumption for the 7 months from October 2017 to April 2018 stood at 189 lakh bales with an average of 27 lakh bales per month. Exports are estimated at 61 lakh bales as on April-end.The Statistics Committee of CAI has projected total cotton supply up to April 30, 2018 at 347 lakh bales. This includes market arrivals of 311 lakh bales and imports estimated at 6 lakh bales, the CAI statement said.

https://www.thehindubusinessline.com/economy/agri-business/cai-retains-cotton-crop-estimate-at-360-lakh-bales/article23813448.ece
0

Textile mills attempting for cut in hank yarn obligation

News Tags: cone yarn and hank yarn attract uniform 5 % tax, Handloom fabric production, handlooms declined by 41 %, Indian Texpreneurs Federation, seeking reduction of hank yarn obligation, Textile mills, yarn productio Goods and Services Tax

Coimbatore
Summary: 
The association said that the mills are unable to market the hank yarn as the demand has reduced over the years. But, they might face action for not meeting the hank yarn obligation as hank yarn is covered under Essential Commodities Act. The Ministry should hence reduce the hank yarn obligation to 10 % from the current 40 %. In the letter to the minister from the association and its members, the mills pointed out that between 1987-1988 and 2009-2010, the number of handlooms declined by 41 % (from 36.10 lakh looms to 21.47 lakh).

The association said that the mills are unable to market the hank yarn as the demand has reduced over the years. But, they might face action for not meeting the hank yarn obligation as hank yarn is covered under Essential Commodities Act. The Ministry should hence reduce the hank yarn obligation to 10 % from the current 40 %. In the letter to the minister from the association and its members, the mills pointed out that between 1987-1988 and 2009-2010, the number of handlooms declined by 41 % (from 36.10 lakh looms to 21.47 lakh).

http://www.thehindu.com/news/cities/Coimbatore/textile-mills-seek-reduction-of-hank-yarn-obligation/article23678352.ece
0

Interactive session with textile mills in the State

News Tags: 11 lakh bales of cotton, cotton corporation of India, cotton season, e-auction system of the CCI for sale of cotton, present cotton scenario and cotton sales by the CCI, quality of cotton sold by the CCI, Textile mills, top five customer mills of the CCI

Tamil Nadu
Summary: 
The mills learnt more about the e-auction system of the CCI for sale of cotton that it obtains.Around 200 mills in the State are registered with the CCI and 30 to 35 buy cotton regularly through e-auction.

The mills learnt more about the e-auction system of the CCI for sale of cotton that it obtains.Around 200 mills in the State are registered with the CCI and 30 to 35 buy cotton regularly through e-auction.

The present cotton scenario and cotton sales by the CCI this season was discussed by the CCI officials and textile mills. Cotton Corporation of India (CCI) has purchased 11 lakh bales of cotton so far this cotton season (October to September) and sold four lakh bales.

http://www.thehindu.com/news/cities/cotton-corporation-conducts-customer-meeting/article23605477.ece
0

Closure of textile mills annoys governor

News Tags: Pakistan Hosiery Manufacturers and Exporters Association, Pakistan textile exporters association, Power Loom Owners Association and Pakistan Sweater Exporters Association, Textile mills

Mumbai
Summary: 
Aptma Chairman Aamir Fayyaz made a detailed presentation on the existing state of affairs in the Punjab-based textile industry. He said the regional competitors were competing Pakistan ahead due to the timely interventions by their governments. The presentation also highlighted a huge difference in cost of production in Pakistan compared to the regional countries. He said the government should immediately address the energy cost issues by ensuring uniformity in prices, i.e., electricity at Rs7 per kWh and LNG at Rs600 per MMBTU. He also seeked an immediate release of stuck sales tax refunds of the industry.

Aptma Chairman Aamir Fayyaz made a detailed presentation on the existing state of affairs in the Punjab-based textile industry. He said the regional competitors were competing Pakistan ahead due to the timely interventions by their governments. The presentation also highlighted a huge difference in cost of production in Pakistan compared to the regional countries. He said the government should immediately address the energy cost issues by ensuring uniformity in prices, i.e., electricity at Rs7 per kWh and LNG at Rs600 per MMBTU.

https://nation.com.pk/23-Mar-2018/textile-mills-closures-rile-governor
0

DICE textile innovation expo held in Pakistan

News Tags: All Pakistan DICE, Distinguished Innovation Collaboration Entrepreneurship, fabrics and yarns industry, Government and Expatriates, major objective to grow indigenous textile industry in Pakistan, private universities, promote and collaborate on innovations, Textile, Textile Innovation exhibition, Textile mills, textile sector etc

Faisalabad
DICE textile innovation expo held in Pakistan
Summary: 
All Pakistan DICE (Distinguished Innovation Collaboration Entrepreneurship) Textile Innovation exhibition with the major objective to grow indigenous textile industry in Pakistan, Government and Expatriates to promote and collaborate on innovations related to textile Sector etc. in the textile, fabrics & yarns industry. The event started on Tuesday.

All Pakistan DICE (Distinguished Innovation Collaboration Entrepreneurship) Textile Innovation exhibition with the major objective to grow indigenous textile industry in Pakistan, Government and Expatriates to promote and collaborate on innovations related to textile Sector etc. in the textile, fabrics & yarns industry. The event started on Tuesday.

https://pakobserver.net/dice-textile-innovation-expo-starts/
0

Cotton imports set to rise as textile mills prefer U.S. cotton

News Tags: compared to domestic cotton, cost advantage, cotton imports this season, from the U.S. in larger quantities, imported cotton, increasingly prefer to buy cotton, Indian Cotton Federation, slightly lower micronaire, surpass official estimate of 17 lakh bales, Textile mills, trade and industry sources, units could get four to five percent

Coimbatore
Cotton imports set to rise as textile mills prefer U.S. cotton
Summary: 
As textile mills increasingly prefer to buy cotton from the U.S. in larger quantities. According to trade and industry sources, cotton imports this season might surpass the official estimate of 17 lakh bales.

As textile mills increasingly prefer to buy cotton from the U.S. in larger quantities. According to trade and industry sources, cotton imports this season might surpass the official estimate of 17 lakh bales.

Also, the units could get a 4 to 5% cost advantage, the sources added. Total imports during the last cotton season (2016-2017) were 30.94 lakh bales and the previous year it was 22.79 lakh bales. The total imports this season (October 2017 to September 2018) might cross 20 lakh bales, said Nishanth Asher, a partner with cotton trading firm RS Asher and Company.

http://www.thehindu.com/todays-paper/tp-business/textile-mills-prefer-us-cotton-imports-set-to-rise/article22848109.ece
0

India’s first special raw cotton storage facility opens at VOC port

News Tags: ambitious FGTWZ, first special storage facility in India, handling raw cotton, house around 500 TEU, initial step towards establishing, International traders, launched open at Dakshin Bharat Gateway Container Terminal, reintroduce cotton trade in a big way, stock raw cotton, Textile mills, thirty days free of cost, Thoothukudi VOC port

Thoothukudi
India’s first special raw cotton storage facility opens at VOC port
Summary: 
India’s first special storage facility for handling raw cotton was launched open at the Dakshin Bharat Gateway Container Terminal, the Thoothukudi VOC port, on Friday. An initial step towards establishing the ambitious Free Trade Warehousing Zone (FGTWZ) at the Thoothukudi Port will reintroduce cotton trade in a big way, explicit VOC Chairman S Anantha Chandra Bose.

India’s first special storage facility for handling raw cotton was launched open at the Dakshin Bharat Gateway Container Terminal, the Thoothukudi VOC port, on Friday. An initial step towards establishing the ambitious Free Trade Warehousing Zone (FGTWZ) at the Thoothukudi Port will reintroduce cotton trade in a big way, explicit VOC Chairman S Anantha Chandra Bose.

http://www.newindianexpress.com/states/tamil-nadu/2017/aug/06/special-raw-cotton-storage-facility-at-voc-port-1639037.html
0

Local markets saw sharp drop in cotton prices over closure of textile mills

News Tags: All Pakistan Textile Mills Association, announcing closing down, APTMA, cotton prices, delay in releasing refunds, global prices, higher cost of doing business, local markets, over dull attitude of the government, slow and diminish trend, Textile mills, witnessed sharp drop

Karachi
Local markets saw sharp drop in cotton prices over closure of textile mills
Summary: 
All Pakistan Textile Mills Association (APTMA) after announcing its decision that they are closing down their textile mills over dull attitude of the government, delay in releasing refunds and higher cost of doing business, the local markets witnessed sharp drop in cotton prices.

All Pakistan Textile Mills Association (APTMA) after announcing its decision that they are closing down their textile mills over dull attitude of the government, delay in releasing refunds and higher cost of doing business, the local markets witnessed sharp drop in cotton prices.

The chairman Cotton Ginners Forum, Ahsanulhaq from Rahim Yar Khan said that on the first day of trading session at cotton market, the cotton prices dropped sharply by Rs 300 to Rs 6100 per maund.

http://dunyanews.tv/en/Business/394912-Cotton-prices-in-local-markets-drop-
0

Cotton procurement by textile mills to remain low till GST rolls out

News Tags: after GST is rolled out, by more than fifty percent, confused over duty draw back, cotton purchased before end June, cotton purchases have come down, maintain minimum inventory, purchases expected to remain low, purchases from exporters even declined, reduced cotton procurement, Textile mills, till things become clear, Traders estimate

Ahmedabad
Cotton procurement by textile mills to remain low till GST rolls out
Summary: 
Textile mills have reduced cotton procurement to maintain minimum inventory. The purchases are expected to remain low till things become clear after the GST is rolled out. Traders estimate that cotton purchases have come down by more than 50 percent in recent times.

Textile mills have reduced cotton procurement to maintain minimum inventory. The purchases are expected to remain low till things become clear after the GST is rolled out. Traders estimate that cotton purchases have come down by more than 50 percent in recent times.

Nirav Patel of a city-based cotton export house said that cotton buying by mills has reduced noticeably as mills are preferring to keep minimum stock.

http://timesofindia.indiatimes.com/city/ahmedabad/mills-cut-cotton-procurement/articleshow/59327718.cms
0

Demand for reduction of GST rate on MMF and yarn

News Tags: accumulation of excess credit, affect independent weaving, become a blocked credit, eighteen percent rate on yarn, increase fabric cost, MMF, reduction of GST rate on manmade fiber, refund to be permitted for fabric manuafacturers, spinning units, Textile mills, to twelve percent, yarn

Coimbatore
Demand for reduction of GST rate on MMF and yarn
Summary: 
Textile mills demand reduction of GST rate on manmade fiber (MMF) and yarn to 12 percent from 18 percent and refund should be permitted for fabric manuafacturers.

Textile mills demand reduction of GST rate on manmade fiber (MMF) and yarn to 12 percent from 18 percent and refund should be permitted for fabric manuafacturers.

According to Prabhu Dhamodharan, secretary of Indian Texpreneurs Federation, about 430 mills have recently sent their appeal to the Prime Minister’s Office in this regard.

While the rate for fabric is 5 percent that for yarn and fibre is 18 percent. Fabric manufacturers do not have the provision of refund and hence, this would become a “blocked credit”.

http://www.thehindu.com/news/cities/Coimbatore/textile-mills-seek-reduction-of-duty-for-mmf/article19098103.ece
0
 
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