Hennes & Mauritz (H&M), Swedish based global clothing giant, who sources most of the garments from factories in Asia, particularly Bangladesh, and the world’s second biggest textile manufacturer after China. However, election-related violence in the country has strained its garment industry.
The DBL Group, one of the largest composite knit garments and textiles companies in Bangladesh, has drawn a massive expansion plant to double its textiles finishing capacity and be the country’s largest vertically integrated producer by 2016.
It started with the installation of a Monforts Montex 6500 stenter last year, and it is currently erecting new factory buildings and installing new equipment that includes three Monforts Montex 8000 stenters. All of the Monforts equipment has been supplied via the Monforts distributor for Bangladesh, Bengal Technological Corporation.
The Pakistan ministry of textile industry working out plan to get complete advantage of the Generalised Scheme of Preference (GSP) Plus granted by EU. As a first step they have decided to begin training programme for the cotton growers using electronic media (Radio).
Farmers living in far-flung and remote areas of the country will be introduced to modern technologies for cultivations and crop management through this training programme, said Ministry of Textile Industry Cotton Commissioner Khalid Abdullah.
Cape Wools’ Merino indicator gained 1.6 percent to close at R120.18/kg (clean), surpassing all previous records. This was a 17.9 percent increase on the opening sale and was up 8.8 percent on the corresponding sale last year, said Company spokeswoman Lizella Delport
Good demand and a weak currency pushed South African wool prices to a fresh high, Cape Wools said on Wednesday.
Century Enka Limited (CEL) is part of of B.K. Birla group of companies has reported a standalone sales turnover of Rs 345.16 crore and a net profit of Rs 14.71 crore for the quarter ended Dec '13. Other income for the quarter was Rs 3.98 crore. Century Enka shares closed at 137.40 on January 29, 2014 (NSE) and has given 30.05% returns over the last 6 months and 15.37% over the last 12 months.
At the Zealand wool market, this week’s combined offering of 16,800 bales witnessed a firm to slightly cheaper market despite an easier New Zealand dollar. The clearance rate of 78 percent also reflects the higher volumes of average style wools coming onto the market and growers hoping of higher offering prices, lifting the volume of passed in wools, according to New Zealand Wool Services International Limited’s General Manager, Mr John Dawson.
The weighted indicator for the main trading currencies came down 1.16 percent compared to the last sale on 23rd January.
Central Silk Board to meet growing domestic and international demand is looking to extend the area of mulberry cultivation in the state by focusing on arable land in north Karnataka. As of now, sericulture is concentrated in Mysore, Kolar, Ramanagaram, Bangalore rural, Chikballapur and Kolar districts.
Karnataka is a top silk producer which accounts for 35% of silk production in India at 8,219 metric tons (MT); but sericulture is essentially restricted to southern parts of Karnataka.
Modification in the cotton program might affect Arizona growers, but the farmers are still keeping an eye on the farm bill as it is moving toward approval in Congress after two years of debate.
The bill allocates nearly $1 trillion over the next 10 years, largely for food stamp programs, but also includes funds for agricultural research and development, pest and disease prevention, and other programs in addition to the cotton change.
Cotton prices plunged further down on Wednesday due to renewed selling pressure, keeping the leading spinners and exporters away from the proceedings. But some millers were able to pick up small lot deals at the falling prices to meet their near-future demand.
Floor brokers said that slow demand for cotton yarn is causing adverse impact on the cotton prices as spinners are avoiding holding ‘long position’ in their cotton inventory.
Bangladesh garment sector is passing through a tough time for various reasons which are seriously affecting the business moreover the duty waiver scheme, known as generalised system of preferences, the trade privileges granted to Pakistan by the European Union, will come into effect for Pakistan from January 1 and will apply to 75 products, mostly garments. It ends in 2017. Bangladesh apparel sector will have to compete with Pakistan in the market.
