China will not increase its cotton import quota next year beyond the 894,000-tonne quota it promised when joining the World Trade Organization, a Chinese official said Monday. "We will guide domestic textile enterprises to use more homegrown cotton," Liu Xiaonan, an economic and trade official with the National Development and Reform Commission (NDRC), said at a press conference. The official's remarks came after the government removed its long-held temporary cotton purchasing policy and i

After failing to get South Korean LG Chemicals on board as a technology partner for its Kochi-based petrochemical project, Indian public sector refiner Bharat Petroleum Corporation Ltd (BPCL) said it will buy outright, the critical technology to produce speciality chemicals. The critical technology is used in producing speciality propylene derivatives-based products such as acrylic acid and acrylates and used in textiles, plastics, paints, coatings, adhesives and inks."Since our plan to get the

As the number of companies engaged in the textile industry has been increasing, the Ethiopian Textiles Industry Development Institute plans to set up a national enterprise that will help create linkage between cotton producers and textile industries. Institute Director-General, Sileshi Lemma, said that the Enterprise will have the mandate to purchase, sell and store raw cotton. It is aimed at addressing challenges related to shortage of raw material supply. This will help realize the count

It has been nine years since the two countries, Korea and Canada began negotiating the terms of the Free Trade Agreement (FTA) in 2005. President Park Geun-hye, who is currently making a state visit to Canada, will hold a summit meeting on the 23rd with Canadian Prime Minister Stephen Harper at Ottawa and sign a free trade agreement. According to Ahn Jong-beom, the senior presidential economic adviser, the Korea-Canada FTA will liberalize trade between the two countries by 92-95 percent with

Asia’s leading technical textiles and nonwovens trade fairs opens this week and covers three halls totalling 35,000 sqm, making it the largest event in its history. Around 460 exhibitors from 22 countries and regions will take part at Cinte Techtextil China which runs from 24 – 26 September at the Shanghai New International Expo Centre. The fair covers the full range of industry product groups with 12 different application areas on display. This year’s highlights in the International Hall (ha

Textile Raw Material Price 2014-09-22 Item Price Unit Fluctuation Date Crude Oil WTI 92.41 USD/Barrel -0.71% 2014-09-22 Crude Oil Brent 98.39 USD/Barrel 0.71% 2014-09-22 PX 1238 USD/Ton -0.4% 2014-09-22 PTA Buy 6570 RMB/Ton -1.5% 2014-09-22 PTA Sell 900 USD/Ton -1.64% 2014-09-22 MEG Buy 6650 RMB/Ton -1.48% 2014-09-22 MEG Sell 905 USD/Ton -1.63% 2014-09-22 C

This year the cotton arrival in Pakistan market has shown an increase of 4.73 percent. Around 2,750,563 cotton bales were sourced to the country's ginners by September 15th, according to Pakistan Cotton Ginners Association (PCGA) fortnightly report. Cotton trading remained firm amid strong physical price and higher cottonseed prices. PCGA Chairman Mukhtar Ahmed Baloch briefing about seed-cotton (phutti) arrivals, sales and unsold stock of cotton said that 2,314,837 cotton bales were sold t

A slew of measures have been recommended for reforms in labour laws particularly for textile sectorpending lengthy legislative amendments of labour laws. Such changes will not require legislative amendments but are imminent to cater to the urgency of the textile sector, said official sources Some of the measures include removing the restriction on women from working in night shifts, albeit with satisfactory safety and security arrangements, fixed term employment for engagement of workforce in

The Brazilian cotton trade has turned cautious in the just concluded fortnight, mainly from price volatility in Brazil, rise in global prices in early September and the dollar valuation against Brazilian currency real, which has also led to low liquidity in the spot market. The CEPEA/ESALQ Index for cotton type 41-4 closed at 1.6892 BRL (0.7212 dollar) per pound on September 15, rising only by 0.11% compared to September 8, while it actually decreased 1.5% in the fortnight ending September 15

India and China, the world’s two most populous countries, have opened a new chapter in their economic relations. During the official visit of Chinese President Xi Jinping to India, both the countries agreed on a five-year economic and trade development plan, as an important new step to pursue higher ambitions in their economic relations. During the visit, agreements were also signed on two Chinese industrial parks in India - one each in Gujarat and Maharashtra - and a commitment to realize