Egyptian cotton exports increased during the third quarter of the agricultural season 2018-2019 to 510,200 metric quintals compared to 160,100 metric quintals during the corresponding period of the previous season, a rise of 218.8 percent owing to the increase of cotton production, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced.
Since ITMA 2015, the TOMSIC Evenness Tester has upgraded with the LINK JOB TECHNOLOGY. This technology offers the possibility to link the Evenness tester with Tomsic Count Analyser to collect directly the data of the REAL COUNT and obtain in this way the real test results. It is very useful, errors avoid system and time save technology. The TOMSIC company offers, in many countries around the world, besides the sale's agent, also a local after sales service, so it can always guarantee quick and efficient support.
Principal Secretary, Handlooms, Handicrafts, Textiles and Khadi Department, K. Phanindra Reddy, Co-optex Managing Director T.N. Venkatesh, Director of Handlooms C. Muniyanathan, Additional Director K. Kannan, and Director of Sericulture P. Sri Venkada Priya spoke. They talked about various issues like new technology, design development, product diversification, brand promotion, market expansion, working capital assistance and research and development. Collector K. Veera Raghava Rao was present.
An official said the subsidy will be reviewed every year to reduce the overall burden. “One of the major reasons why spinning mills incur losses is the higher power tariffs in Maharashtra compared to other states. So we want to encourage spinning mills to set up solar power plants. It will reduce the power bills,” the official said.
The new textile policy for 2018-2023 with an aim to attract investment of Rs 36,000 crore in Maharashtra and generate 10 lakh employment gets approval from the State Cabinet on Tuesday.
Some of the major aspects of the policy include reducing the power tariffs and increasing capital subsidy to 45 percent for spinning mills. Officials from the state textile department said that the policy takes forward the Make in Maharashtra concept to strengthen the cotton industry and silk business.
Odisha state government has come up with an operational guideline for effective implementation of the Odisha Apparel Policy, 2016. Under the policy, the state government will facilitate opening up of apparel units, parks, skill development centres and more. An attempt made by the government to improve investment opportunity and create more employment in the state.
Karachi Cotton Exchange on Tuesday recorded normal trading activity, while spot rates stood unchanged at Rs6,350/maund (37.324kg) and Rs6,805/40kg. Ex-Karachi rates also remained unchanged at Rs6,485/maund and Rs6,950/40kg after an addition of Rs135 and Rs145 as upcountry expenses, respectively.
KCE recorded seven transactions of around 4,500 bales from the new crop of Sindh and Punjab at a price of Rs6,275 to Rs6,550/ maund.
Government of India to control fluctuation in cotton prices and ensure availability of cotton for domestic mills has directed Cotton Corporation of India Ltd. to sell its stock of cotton (cotton season 2015-16), purchased under MSP, to Spinning Mills in the Micro Small Medium Enterprise (MSME) category.
The Minister of State, Textiles, Ajay Tamta in a written reply to a Lok Sabha question said that government reviews the cotton availability position from time to time.
With slow demand from spinners on Thursday cotton prices eased further. The Karachi Cotton Association also reduced its spot rate by Rs50 on a maund (around 37 kilograms).
According to yarn broker, as many as 80 spinning mills have been shifted to polyester and cotton blend fabrics from pure cotton fabrics which resulted into less consumption of cotton yarn.
At the cotton market, the prices of all grades of cotton stood firm during the trading session, according to traders. Around 9,600 bales changed hands.
The Karachi Cotton Association (KCA) spot rate remained intact at Rs 6,850 per maund with better lint in focus, fibre traders reported.
Floor brokers said that leading buyers in Sindh and Punjab stations bought better grade lint on premium prices offered by ginners during the trading session.
