Asian acrylonitrile markers remained flat in the second week of September. In China, offers for offshore cargoes rolled over on the week.
Acrylonitrile prices were steady across the board in Asian markets during the week, as holidays in Northeast dampened trading activity.
In China, domestic prices rolled over, amid a quiet market. S Korea’s Tongsuh Petrochemical was running its 245,000 ton a year No. 3 acrylonitrile plant at Ulsan at 85% operation rate after restart.
The organizers of the Yarn, Fabric & Accessories (YFA) 2016 trade show, have joined hands with Texprocil, the apex body for Indian cotton textiles exporters to offer a 15% subsidy to Texprocil members who want to exhibit at YFA 2016. YFA 2016 will be held from November 23-26, 2016 at NSIC exhibition centre, Okhla, New delhi, India.
In Maharashtra, cotton ginners are expecting a good season ahead, though cotton arrivals are likely to be delayed by a fortnight because of incessant rains in the Marathwada region.
Inspite of heavy rains in the Marathwada region, the crop should not be affected and perhaps for the first time, and Maharashtra may overtake Gujarat in terms of production at about 1 crore bales. Usually, Maharashtra produces around 60-70 lakh bales and around 20 lakh bales are sold to Gujarat. But this time, there could be a bumper production because of the good rains.
Handlooms sector in Khurda district of Odisha, which was facing a crisis due to weak demand for cotton lungis and towels for last few years, has received a new lease of life with the production of linen and mercerised cotton fabrics.
The department of textiles and handlooms is now creating awareness among local weavers to produce linen and mercerised cotton fabrics to meet the high demand and get better remuneration.
Due to heavy rainfall over the past week, crops have damaged in Telangana, Andhra Pradesh and parts of North Eastern Karnataka.
Initial estimates have pegged the crop losses on about 5 lakh hectares in these three States.
A leading yarn manufacturer, TBA Textiles planning to invest a further £700,000 in new technology and equipment with the support of a £150,000 grant from the N Brown Textiles Growth Programme. This follows a previous investment earlier this year of more than £110,000.
Due to unfavourable market conditions and continuous losses, another textile unit was shut down in Pakistan. Sajjad Textile Mills Limited, has announced its closure while 110 textiles mills have already closed their operations mainly due to increasing cost of doing business.
The company stated in a filing with the stock exchange that the board of directors of the company in its latest meeting had decided to suspend the manufacturing operations of the Company with immediate effect.
Textile manufacturers in Indonesia request the government to provide more legal certainty in relation to the continuously rising flow of imported textile products. The rising flow is the result of the implementation of the ASEAN Economic Community (AEC) at the start of 2016.
In Tamil Nadu, most of textile mills have cut down yarn production by 30-40% due to drop in cotton prices and the cotton prices was in the range of Rs. 50,000 per candy.
As the end-season prices almost reaching Rs 50,000, there was no point in continuing normal production, as the prices of yarn were not matching the higher cost of production, putting the mills into heavy loss, industry sources said.
Sudan and China ministers have entered into a deal to cultivate cotton on 500 acres of land in Sudan
The minister of Sudan have agreed with China to carry out a feasibility study on cultivation of Cotton in Algazira state.
Both the countries are waiting to receive a technical team from investment companies and research centres to study the possibility of this plan.
The Agriculture minister of China, Han Changfu, said that China has granted cash to Sudan to improve the agricultural sector.
