Vardhman Textiles Ltd (VTL) a Punjab based major integrated textile producer in India to cope up with the persistent volatility in cotton prices has started hedging on Multi Commodity Exchange of India Ltd. (MCX).
It is of vital importance for VTL to hedge cotton prices, as it constitutes more than 4 percent of the country’s yarn production capacity. They believe that hedging the cotton prices will help VTL to maintain its margins.
Cotton is the basic raw material for the textile industries. Its prices are influenced by both domestic and international factors, particularly with the growing globalization and international trade.
During October 2016 to September 2017, cotton prices witnessed volatility of 19.25 percent (annualised) and with physical market size of cotton estimated at around Rs68,000cr, the cotton industry faced annualised price risk of over Rs13,000cr.
In Q3FY18, VTL’s revenue mix consisted of 95percent and 5 percent from Textile and Acrylic Fibre respectively. VTL is also the second largest producer of sewing threads and the market leader in hand knitting yarn in India.
Reju has joined Recycling Europe’s textiles division, strengthening its commitment to advancing circularity within the European textile industry.
Teijin Frontier has developed an polyester fibre technology enabling the production of a new textile offering high heat retention and…
CreateMe Technologies, specializing in automated apparel manufacturing, has announced partnerships with Avalo and Laguna Fabrics to launch Seed to System.
Hologenix, Dream Recovery will introduce the Infrared Weighted Recovery Blanket designed to combine deep pressure stimulation with infrared textile technology.
BMW is set to innovate its first all-electric M3, replacing portions of traditional carbon-fiber-reinforced plastics with natural-fiber composite materials.
Textile innovation company Spinnova has expanded its global manufacturing ecosystem through a strategic collaboration with woven fabric specialist NZ TEX…