Chinese luxury customers have scaled up sales of more restrained styles which has contributed to the popularity of Scottish wool through their purchase of top global luxury brands such as Chanel, which have been buying more Scottish tweed recently even if they are not buying directly from Scotland or Australia.
Cotton prices, which were ruling at 47,500 (spot price per candy of 355kg) during September 2013, came down to 39,000 in December. But they have again increased to 43,000 now, mills said. Prices of 40s combed hosiery yarn for the corresponding months stood at 260 per kg, 241 and 256 respectively.
According to T Rajkumar, chairman, Southern India Mills’ Association, the cotton price rise alone would have an impact of 25 per kg on yarn, which has been only partly passed on to downstream sectors, which is unavoidable to sustain viability.
Revival plan of closed spinning mills in UP state are being worked out. On Thursday, UP chief secretary, Jawed Usmani directed authorities to prepare a formal proposal detailing on the plan of action to revive the mills. As the government of UP decides to revive nine closed spinning mills, apparently in a move to project state government as pro-industrialisation and provide job opportunities to nearly 10,000 persons.
ICE cotton ended its two days of losses as it eked out small gains on Tuesday, while stocks continued to rise as trade buying offset index and fund rolls ahead of the March contract expiry.
The benchmark March cotton contract on ICE Futures U.S. finished up 0.39 cent, or 0.5 percent, at 85.40 cents a lb. Two days of selling had pushed prices to 84.76 cents on Monday.
Made in Pakistan Expo 2014 to be held in Mumbai, India from April 3-7, 2014 for which the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has received incredible response from the exhibitors and majority of the stalls have been booked. The Chairman PRGMEA, Arshad Aziz while addressing a press conference yesterday said that Made In Pakistan Expo held in order to promote Pakistan’s garments and clothing in the neighbouring country has been duly endorsed by the ministry of commerce and ministry of textile industry.
American Textile Co. (ATC) Duquesne, Pa.-based manufacturer of mattress and pillow protectors, bed pillows and mattress pads seeing the increasing consumer demand for its products has decided to expand its Tifton, Ga., manufacturing and distribution facility by more than 182,000 square feet. Also access to a skilled workforce and strong county support are the key factors in choosing to expand at Tifton.
Cotton prices at the Pakistan cotton market remained under pressure for second straight session on Tuesday due to lack of buying interest. However, some millers lifted small lot deals at falling prices.
Meanwhile, with very little phutti (seed cotton) left in the fields the availability of quality lint is getting tight. This is another major factor behind listless conditions on the cotton market.
Brokers said that around 200,000 to 300,000 bales would further add up in total production during the remaining cotton season, but they would be mostly of low quality.
The increase in yarn prices has come as a blow for the knitwear sector and garment exporters, as it will be difficult for same to reach the target set. They have urged the Union Textile Minister K Sambasiva Rao to intervene in reduction of yarn prices raised by spinning mills.
Tirupur Exporters' Association (TEA) President A Shakthivel in a letter to Union Textile Minister K Sambasiva Rao said that despite appeals from the mills associations, spinning mills refused to concede their requests and justified the increase in yarn prices.
CT Nassau — an Alamance, N.C. based producer of mattress tape and mattress ticking fabric and a leader in the home furnishing textiles market, to meet the increasing demand for its mattress ticking fabric has planned to invest more than $4 million to expand its Burlington, N.C., mattress ticking manufacturing plant.
Bulwark FR— a Nashville, Tennessee based manufacturer of flame-resistant safety apparel and a division of VF Corp., Greensboro, N.C., the world's largest publicly traded apparel company have partnered with Spartanburg-based Milliken & Company, to develop better smarter productive garments with a first-of-its-kind fabric. The iQ Series of comfortable, flame-resistant (FR) apparel.
