The Global Organic Textile Standard (GOTS) is the worldwide leading textile processing standard for organic fibres, including ecological and social criteria, backed up by independent certification of the entire textile supply chain. GOTS has updates its rules for organic textiles. This time they are imposed ban on some pretty popular fabrics.
Poor water management, pest attacks, rainfall and weather conditions played their due parts in lower production of cotton as farmers preferred to grow other cash crops after they failed to get good price for cotton last year. As the result cotton production remained 13 percent below the set target for the fiscal 2013-14.
According to the State Bank of Pakistan (SBP), it was projected to produce 12.3 million bales of cotton (of 170 kilogram each) in FY14, the production is approximately 13 percent lower than the government target of 14.1 million bales.
Intertextile Shanghai Home Textiles, the Asia’s largest home textiles trade fair designed to allow overseas exhibitors to take advantage of key sectors in the domestic industry and a promising market condition. The strong demand in China for premium European products led to its creation last year, with exhibitors from 16 different EU countries taking part.
The abacá fibre over the decades which was considered a high quality soft fibre more commonly used to create speciality paper, as it less matched the needs of fashion. In today fashion world, designers have started making use of luxurious handwoven abacá fabrics in their collections, as well as recent developments that blend pineapple fibre with polyester, showing that a varied range of bast and hard fibres does have a place in fashion world.
The delinking of Technology Upgradation Fund Scheme (TUFS) from the state textile policy has turned out to be a good decision. The Maharashtra state government despite global economic meltdown has received 1,331 new textile project worth Rs.12,000 crore in one and half years under the new textile policy.
They are look forward to meeting the target of Rs.40,000 crore investment sooner than the five year time frame with the delinking of TUFS.
The Australian Bureau of Agricultural and Resource Economics (ABARES) has projected mix outlook for wool. ABARES foresees the EMI to move up once again in the short-to-medium term, averaging around 1,160 cents per kilogram for 2014-15 and remain at around 1,155 cents per kilogram in 2015-16.
By 2018-19, the EMI is projected to plunge to around 1,133 cents per kilo as graziers restock and production recovers.
The Cotton Corporation of India (CCI) reported the current season arrival to 151.41 lakh bale as of now as compared to 182.23 lakh bale in the same time last season.
In the north zone of Punjab, Haryana and Rajasthan, the daily average arrivals are around 15,000 bales. Cotton lint prices remained steady with no major variations.
Pakistan textile sees trade balance sharply moving in India’s favour as the Indian Central Government plus the state governments were offering subsidies and rebates to boost their exports of textile products. Moreover it is having the benefits of regulatory duties and other levies on imports from Pakistan. To maintain level playing field, a Non-Discriminatory Market access (NDMA) from India to Pakistan is more vital rather than Pakistan being the Most Favoured Nation status (MFN) to India
Pakistan textile industry looking to its Ministry of Finance releasing fund which was earmarked in the textile policy 2009-14 a Rs. 118 billion for lower interest subsidy for technology upgradation. In fact, the textile ministry has not even registered businessmen for the scheme.
Arvind Mills, an integrated Indian textile and branded apparel player, originally a flagship company of the Lalbhai Group is in market news currently having recorded overall 35.56 per cent growth in its consolidated net profit at Rs 102.17 crore in the October-December quarter due to increased demand in export markets like US and Europe, especially the denim makers, a sharp rise on seen in its export volume. This growth attributes to higher revenues in textile and retail segments.
