In Shengze, offers for 32s polyester yarn were stable in the third week of March and 45s were up US cents 10 a kg on the week.
Offers for spun polyester yarns in China were stable, and producers were cautious to buy raw materials. Mainstream offers for 32s rolled over while 45s were dearer on the week. It will take some time for fabric makers to accept earlier price rise for spun yarns since PSF prices were down US cent 1-3 on the week.
Asian PTA markers were up US$17 a ton CFR China in the third week of March. In China, offers were at US$615-620 a ton or slightly higher, and buying ideas were at US$600-605 a ton or slightly lower, with discussions at US$605-610 a ton or slightly higher. Yisheng Petrochemical’s cash-based price surged US$12 a ton during the week.
The Woolmark Company brought together six renowned fashion designers from India Nachiket Barve, Rajesh Pratap Singh, Rahul Mishra, Troy Costa, Gaurav Jai Gupta and Pakistani designer Omar Farooq, showcased key collection inspired by luxurious, lightweight Merino wool fabrics under the men’s and women’s wear category at the International Woolmark Prize event for the upcoming season.
The designers' collaboration showcase also focused on the Make in India concept, highlighting the journey of Australian Merino wool to the weavers, manufacturers, brands and designers in India.
With the demand for synthetic fibres which includes nylon, acrylic and polyester continuing to increase in Zimbabwean market, cotton farmers are left with no choice but to brace for lower producer prices for the crop in the coming marketing season compared to the previous year.
Synthetic fibres are the result of extensive research by scientists to improve on naturally occurring animal and plant fibres. In general, synthetic fibres are created by extruding fibre forming materials through spinnerets into air and water, forming a thread.
The divested GIHOC Jute Factory stands to significantly benefit government if the jute sacks manufacturing company eventually returns to full scale production, especially in cocoa production, said Kumasi Manhyiahene, Nana Akwasi Prempeh and hence appealed to the government to waive its financial interest in form of its assistance towards a successful revival of the company.
The coir sector has fetched an export revenue of ₹1,630 crore in the last fiscal against ₹1,476 crore achieved in the previous year despite recessionary trends in the overseas markets, it has not deterred coir exports from the country, as the sector continues to register a better performance in the last few consecutive years.
CP Radhakrishnan, the newly-appointed Chairman of the Coir Board said that it is expecting exports in the current fiscal to exceed the last year’s levels as it already crossed ₹1,382 crore as on January.
At the Pakistan cotton market on Wednesday following the persistent demand by mills and spinners, witnessed improvement in the volume of business, dealers said. In Sindh, seed cotton prices were at Rs 2200-2400, and in Punjab prices were at Rs 2400 and Rs 2900.
In the ready business, nearly 10,000 bales finalized between Rs 4750-5500. The official spot rate also remained unchanged at Rs 5,300.
Department of Handlooms and Textiles has organized a ten day handicrafts and textiles mela which main at put on display the various textile products produced by different handloom cooperative societies both in Telangana State and Andhra Pradesh.
The handicrafts and textiles mela begin from today, 31st March and will run till 9th April in Nagarkurnool.
According to Deputy Director of Handlooms and Textiles, Tirumala Rao, the exhibition is organized to encourage the handloom weaver community by giving them wide publicity.
The Egyptian Prime Minister Sherif Ismail will be holding a meeting to look into a plan to revive the textile industry. The plan includes mechanisms to implement the development process of the industry in a way that reduces Egypt’s imports of clothes and textiles. Cotton should be provided sufficiently to the local market, especially the types appropriate for the industry.
Pakistan’s exports to the European Union (EU) in the first 11 months (January-November) of 2015 has plunged from $6.96billion to $6.13 billion in the same period last year, a drop of 11.93 percent, indicating that the preferential market access has failed to boost dwindling exports.
The commerce ministry listed two reasons for the decline: the recession in EU and depreciation of the euro against dollar.
Exports of textile garments dropped to $2.289bn from $2.291bn. Home textile exports dipped 8.51pc to $1.461bn from $1.597bn in January-November 2014.
