In India, polyester yarn prices edged down in order to revamp depressed demand in the last week of June. With GST regime in place, yarn traders and intermediary agents were finding it difficult to implement the new tax system. Polyester yarn 30 knit yarn prices edged down INR1 a kg (down US cents 2 a kg due to weak INR) in Ludhiana market.
PTA price inches up on rising paraxylene values
Asian PTA prices inched up US$2-5 a ton CFR China and CFR Southeast Asia in the last week of June. In China, offers for bonded goods picked up US$2 a ton and discussions for firm deals inched up on the week. Yisheng Petrochemical raised its self-lifting price by US$2 a ton. In India, CIF values rose US$5 a ton.
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Brazil backs revival of cotton growth in East Africa
Related Keywords: average yield of cotton per hectare, Brazilian government, Cotton Victoria Project, East African region, embarked on cooperation initiative, help boost cotton production, improving techniques of cotton farming, through training professionals
The Brazilian government has embarked on a cooperation initiative in the East African region to help boost cotton production by improving the techniques of cotton farming and through training professionals.
Assistance to cotton farmers with the availability of better cotton varieties, irrigation projects, and transparent pricing will boost cotton production in African countries.
Brazilian experts will pass on knowledge in rural extension to small-scale farmers and will evaluate the structure of the local cotton production chain.
Normal trading activity witnessed
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At the Karachi Cotton Exchange, normal trading activity was witnessed on Wednesday, while spot rates increased Rs50/maund to Rs6,200/maund (37.324kg) and Rs6,645/40kg. Ex-Karachi rates also increased to Rs6,335/maund and Rs6,790/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
KCE recorded seven transactions changed hands of around 5,000 bales from Sindh at a price of Rs6,350/maund to Rs6,400/maund. Deals were noted from Hyderabad, Tando Adam, Kotri, Sanghar, Shahdadpur, Mirpurkhas and Sinjoro.
PRGMEA organizes International Textile Asia Exhibition
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The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has organized a three day ‘International Textile Asia Exhibition’ where more than 350 international brands from around 29 countries have displayed their products at more than 500 stalls at the Expo Centre. A large number of industrialists, businessmen, exporters and citizens attended the event on the first day.
Intertek plans expansion of its textile testing capabilities in the U.S.
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Intertek, a leading Total Quality Assurance provider to industries worldwide, plans expansion of its textile testing capabilities in the U.S. as the result of investments in new equipment at Intertek's textile testing laboratory in Arlington Heights, Illinois.
Telangana plans big to celebrate Handloom Day
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Industries, Handloom and Textiles Minister KT Rama Rao, on the occasion of National Handloom Day celebrated on August 7 gave a call to elected representatives as well as officials to promote handloom among the public. The officials were also asked to organize ‘Handloom Run/Rally’ in all the district headquarters and mandal headquarters in the State.
ASF price edges down in Asia
In China, medium-length fibre and cotton-type staple ASF prices declined US cents 8-13 a kg in the last week of June. Acrylic staple fibre prices declined in China while they were steady in India and Pakistan that week. In China, prices dropped following lower settlement prices from major supplier early in the week.
Later prices generally stabilized, but buyers held cautious sentiment. Thus, replenishing activities were limited with buyers less confident about market outlook. Mills may begin to replenish small volumes, with the direction clear for the moment.
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Acrylonitrile prices plunge on ample supply
Asian acrylonitrile prices edged down US$1 a ton CFR Far East Asia in the last week of June while CFR South East fell US$5 a ton on the week. In China, offers for offshore cargoes declined US$50 a ton on the week.
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Iran to set up its first ever apparel industrial park to boost the sector
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Iran to set up it’s first-ever apparel industrial park in cooperation with public, private and cooperatives sectors. An initiative aimed at meeting domestic demand and boosting exports. A multilateral memorandum of understanding was signed on Wednesday.
The signatories were Iran’s Small Industries and Industrial Parks Organization, Ministry of Cooperatives, Labor and Social welfare, Cooperative Investment Guarantee Fund, Iran’s Clothing Association, and Tose’e Ta’avon Bank.
