In China, offers for liquid spot remained unchanged in the first week of September while solid goods offers were stable on the week. Asian caprolactam markers, the SE and FE picked up US$30 a ton while Japanese goods were flat on the week.
Caprolactum prices were range bound amid modest demand and almost stable raw material benzene cost. In China, offers for both liquid and solid goods rolled over. Mainstream values for South East and East European goods marched higher.
Bangladesh Silk Development Board (BSDB) in its working plan (2016-17) has suggested proposing National Board of Revenue (NBR) to increase the duty on imported silk yarn and fabric to save local silk industry and enhance production. As lower duty on imported silk yarn and fabrics has led to the poor use of local product, forcing many silk farmers to move to other professions. BSDB mentioned this to the Parliamentary Standing Committee on Ministry of Textiles and Jute.
A group of 15 students of Indian Institute of Technology at Kharagpur (IIT-KGP) from the biotechnology department has been invited at MIT where they would participate in the International Genetically Engineered Machine (iGEM), the world’s biggest competition at Boston in the United States to showcase their unique genetic engineering skills to extract spider silk in a quicker and more economical way.
iGEM is the most prestigious competition in the emerging field of genetic engineering and synthetic biology. It is conducted by the iGEM Foundation and was initiated by the MIT in 2004.
The Ludhiana hosiery industry that supplies goods such as shawls, jackets, sweaters, gloves, caps, warmers and blankets to Jammu and Kashmir due to the unrest in Kashmir have suspended production and a majority of these have closed down as a result the industry has incurred a loss of nearly Rs100 crore.
Many noted knitwear houses manufacturing shawls who have sent their raw material to Kashmir for its famous embroidery has been stuck due to the unrest following the killing of terrorist Burhan Wani, said Tarun Jain, Chairman, Bahadur-Ke-Textile and Knitwear Association.
Mills and spinners were seen making fresh buying amid hovering fears of rise in rates to replenish their stock at cotton market, dealers said. The official spot rate remain unchanged at Rs 5,900.
In Sindh, seed cotton prices at Rs 3100-3200 and in Punjab rates of Phutti were at Rs 2900-3100, as per 40 kg, dealers said. In ready business, over 13000 bales of cotton changed hands between Rs 6000 and Rs 6250.
Vietnam is EU retail sector’s second largest source of fast-moving consumer goods after China. With EU’s FTA with Vietname expected to boost European growth and job creation in the retail sector as well as development of Vietnam.
There is also a growing interest for investment in retail stores in Vietnam. The scale of the potential gain for the sector is enormous. For EU retail, FTA with Vietnam is more important than the agreements with the US, Canada and Japan combined.
At the upcoming Miss Universe contest,organizers have designated a segment for candidates from different nations to wear dresses made of the textile produced mainly by Moro communities in the Philippines. Inaul is a hand woven fabric/textile that will take the center stage at the event.
At a group meeting of about 20 entrepreneurs engaged in handlooms and textile business held here on Thursday, Collector S. Natarajan addressing the group said that the State government has offered to bear 50 percent of the total cost for creating infrastructure facilities such as laying of roads, sewage treatment plant, captive power plant and telecommunication, if they came forward to establish Mini Textile parks (MTP) in the district.
The ninth edition of Yarnex - India International Yarn Exhibition organized by S. S. Textile Media got off to a colourful start in Tirupur on Friday displaying an innovative portfolio of fabrics, yarns, embellishments and accessories from across the globe. Earlier, Tirupur Exporters Association president-elect Raja M. Shanmugam inaugurated the fair.
Bangladesh imported 207,644 tonnes of cotton yarn from January to July this year an increase by more than 25 percent during the first seven months in 2016. Major portion of the yarn has been imported from the neighbouring India. In recent times yarn is also being imported from Indonesia, industry insiders said, which local spinners termed a threat for the sub-sector of the country's primary textile industry.
Industry insiders apprehended that if the trend continues, it would badly affect the backward linkage industry that meets nearly 80 percent requirement of the local knit sector.
