Cambodian garment industry reported a 20 percent rise in exports last year, according to the figures of the Ministry of Commerce on Monday. Last year, apparel exports to the United States went up by 7.6 percent to 2.12 billion U.S. dollars, to Europe rose by 28 percent to 2 billion U.S. dollars, and to other countries increased by 32 percent to 1.41 billion U.S. dollars. Cambodia is largest foreign currency earner.
Vietnamese garment exports growth is expected to be lower this year, with the target being only 12 percent, compared to 18 percent last year, according to the Vietnam Textile and Garment Association due to rising labor costs and heavy reliance on imported raw materials.
According to Pham Xuan Hong, the chairman of the association, Vietnam is facing ferocious competition from low-priced products from other countries, including Bangladesh, which offer lower selling prices due to their lower labor costs.
Yesim Tekstil, Turkey’s largest circular knitter having secured a deal to supply the AEON brand with high quality, knitted products during its attendance at a sourcing event held in Japan as part of the Turkish Week which was supported by the Turkish Exporters’ Council and Aegean Exporters’ Union . The company plans to expand its business into Japan
After experiencing an upward trend throughout last week, there was sudden change in the undertone of the market with willing sellers coming forward and the prices going down slightly on Tuesday.
Floor brokers said that the availability of quality lint is becoming difficult with each passing day and lower quality cotton is fetching lesser price. There are reports that very little phutti (seed cotton) is left in the cotton fields while the ginners’ stocks are also depleting fast.
At ITMA 2015, recycled fibres and yarns sub-chapter to be introduced driven by the emergent commitment across the global textile and clothing sector to invest in more and more sustainable and environmentally friendly production methods. The new chapter is also indicative of the theme chosen for the 2015 edition, which is ‘Master the Art of Sustainable Innovation’.
Iran and Turkey's trade volume now is around $30 billion. To boost bilateral trade ties, Turkish investors and Iranian businessmen have agreed to join hands. They plan to start a joint textile unit in Iran's central city of Delijan in which the Turkish businessmen propose to invest 15 million euros in Iran's textile industry.
With the joint textile unit the trade volume figure is scheduled to reach $100 billion in nine years.
Pakistani cotton farmers facing a huge loss due to the substandard and low quality seeds sold to them which have reduced per acre yield. The cotton growers are suffering loss of billions of rupees at the hands of the mafia who are selling poor quality seeds.
The World Trade Organization gave Brazil the formal go-ahead to impose sanctions on U.S. imports last November after the body ruled the U.S. government spent too much on subsidies for cotton farmers and on an export credit guarantee program. As part of retaliation in a long-standing dispute over U.S. cotton subsidies, Brazil came out with a list of U.S. goods subject to import tariffs on Monday.
Chinese firms are eyeing Pakistan textile and garment sectors as a competitive destination for foreign investment after Pakistan getting the EU's GSP+ scheme status.
Masood Textile, Pakistan's one of the few vertically integrated textile plants with in-house yarn, fabric, processing, printing and knitted apparel manufacturing facilities with the company earning PKR906m (US$8.6m) profit after tax in the fiscal year 2012-13 (July-June). Their majority stake was acquired by Shandong Ruyi Technology Group of China last month at an estimated cost of US$25m.
Welspun India Ltd is a fully integrated home textile manufacturers and one of the top three globally, in a released today announced that its profit after tax (PAT) has touched Rs 109.5 crore during the third quarter of this financial year.
While revenue of the company, part of USD 3.5 billion Welspun Group, grew by 24 per cent at Rs 1,146.8 crore compared to Rs 922.5 crore in Q3 FY13 with strong volume growth across towels and rugs.
The PAT of the company stood at Rs 51.6 crore in the corresponding quarter of FY13,
