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Related Keywords: apex body of apparel makers, BGMEA, control prices of domestic cotton yarn, cotton security council, handed proposal to MoC, knit and woven garments units, new export policy, spinning mills, texile miller

The Bangladesh Garment Manufacturers and Exporters Association has handed a proposal to the ministry of commerce (MoC) to constitute the Cotton Security Council, which is supposed to control prices of domestic cotton yarn. The apex body of apparel makers has also demanded inclusion of the provision of council into the new export policy of 2015-18.

But the Bangladesh Textile Mills Association has opposed the idea and sent a letter to the ministry, calling the proposal 'unreasonable', 'unrealistic' and 'inconsistent.'

Related Keywords: Bangladeshi terry towel makers, BTTLMEA, China's restrictive import policy, closed in recent time, drop in cotton prices, foreign buyers, Pakistan and Indian, spinning mills

More than 16 big terry towel factories of Bangladesh have been closed in recent times due to drop in cotton prices across the global as they are gradually losing international competition. The export earnings has witnessed sharp decline in last five years as Pakistan and India are getting major orders from foreign buyers. As per the Bangladesh Terry Towel and Linen Manufacturers and Exporters Association (BTTLMEA), at least 16 out of 97 companies stopped operation in last one and half years.

Related Keywords: greenfield project, Lakshmi Machine Works, opting faster air jet looms, opting to upgrade units, produce compact yarn, retrofits cost lower, SIMA, spinning mills, Textile machinery major

A large number of spinning mills in the region are increasingly opting to upgrade their units to produce compact yarn through retrofits. They are also installing compact yarn spinning systems in their Greenfield project as well as for expansion. According to K Selvaraju, secretary general, Southern India Mills' Association (SIMA), mills are opting for retrofits as the costs are lower and weaving units are opting for faster air jet looms.

Related Keywords: improve product margin, leading supplier of systems, new priorities, reduce structural cost, Rieter, short staple fibre spinning, spinning mills, textile machinery producer, utilization of existing capacity

Rieter is a producer of textile machinery and leading supplier of systems for short-staple fibre spinning, is setting new priorities in the implementation of its strategy. The company will also take action to optimize the utilization of existing capacity, improve product margins and reduce structural costs.

The priorities for the next three years will be the further strengthen its innovative capabilities and the expansion of its product and service offering, especially in parts and components.

Additional resources for research and development are being budgeted for this purpose.

Related Keywords: coastal textile hubs, Cotton Corp of India, cotton prices overseas, cotton sowing, Indian cotton import, lower freight costs, new cotton, spinning mills, weak monsoon

India’s cotton import witnesses rise in recent week as cotton sowing has been delayed this year due to weak monsoon raising concern about production followed by sharp decline in cotton prices overseas.

Mills in the coastal textile hubs of southern India have started bringing in shiploads of cotton from Africa due to lower freight costs and as benchmark prices fell to a five-year low on Aug. 1 because of the prospect of ample global supply.

Related Keywords: cotton demand, cotton yarn import, purchasing power, spinning mills, yarn production

With China continuing to decrease cotton yarn imports from India, demand for cotton from domestic spinning mills for producing yarn is set to decline, it is also low purchasing power that has led to fall in demand for cotton.
 
According to K Selvaraju of South Indian Mills Association (SIMA) there have been fall in demand since April 15-20%, due to that cotton prices have already declined by around Rs 500 per candy and are expected to decline by another Rs 1000-2000 per candy owing to poor demand from spinning mills.
 

Related Keywords: consumption trend, cotton prices, Pakistan cotton market, spinning mills, textile sector

A decline in consumption by spinning mills lead to drop in cotton prices. The country’s textile sector which consumed between 1.3 million to 1.4 million bales average monthly has plummeted to around 4 lakh bales since the start of Ramazan.
 
The Karachi Cotton Association (KCA) on Tuesday reduced its spot rate by Rs300 to Rs6,455. While, following were Tuesday’s new crop Karachi Cotton Association (KCA) official spot rates for local dealings in Pak rupees for base grade 3 staple length 1-1/32” micronair value between 3.8 to 4.9 NCL.
 

Related Keywords: cotton trading, Pakistan textile, spinning mills

Rise in cotton price resulted in a decline in its trading activities at cotton markets in Pakistan. The trade turnover of cotton fell to 2,500 bales (155 kilograms) after the price of the commodity surged above Rs7,300 per maund (37.324 kilograms) at the local markets, a dealer said on Thursday.

The spinning mill-owners opted to wait for a decline in the commodity price to make considerable buying. The situation resulted in low trade.