Global 2009-10 cotton production is estimated at 102.7 million bales, down four percent from a year ago, and continuing the trend of declining production which began in 2007-08, AEPC report said. According to the Apparel Export Promotion Council (AEPC) release, Among factors contributing to the decline are the sluggish recovery from the global financial crisis and the world food price shock of 2008 which encouraged cotton farmers to substitute area to food grains and other competing crops. Reduc

The Cabinet Committee on Textile here on Wednesday decided to eliminate 5 percent customs duty on import of cotton yarn falling under chapter 52 of the Harmonized Tariff Schedule. Status quo would be maintained on export of cotton yarn and it has been decided that Cabinet Committee will keep the Yarn exports under review and would only take corrective measures if exports cross the level of 50 million kg per month. Federal Minister for Textile Industry, Rana M. Farooq Saeed Khan, presided over

The Centre today said it expects foreign investments to the tune of around Rs 25,000 crore in the textile sector over the next five years. "Around Rs 25,000 crore of foreign investment is expected to be made in the country over the next five years," Union Textiles Minister Dayanidhi Maran said after inaugurating the National Handloom Expo here. The minister hoped that the steps taken by the government would increase foreign investment in the country. He said steps are also being taken to set up

Same day deliveries are being offered by a brace of retailers online today in a last-ditch attempt to maximise full-price sales. Lingerie brand and retailer Agent Provocateur was offering a UK same day delivery service for all orders placed with its “personal shopping” team by 1pm today, with a guarantee that the merchandise would be couriered between 6 - 9pm this eveing. A charge of ?20 was being levied for the service, which was being offered in London, Manchester, Leeds and Glasgow. Net

John Lewis revealed this morning that sales from Sunday to Wednesday this week were up 27% on 2008 levels. Last minute gift sales in lingerie have been particularly strong, with designer lingerie sales up 115% driven by brands such as Stella, Myla and La Perla. Cold weather footwear has performed well due to the snow, with sales of snow boots trebling and wellington boots up 160%, and the company has sold a pair of slippers every two minutes. The Clearance starts online at 6pm today, and i

Shopper numbers were up over 6% in the three days from the 21-23 December compared to the same three days last year, according to Experian. On Monday shopper numbers were up nearly 48% on the 21st December last year, although the figures were distorted by the 21st being a Sunday in 2008. However on Tuesday and Wednesday traffic was down 8% and 4% respectively, affected adversely by the weather. Experian senior analyst Anita Manan said shoppers were making the most of Christmas Day falling

The European Union has decided to extend anti-dumping tariff on leather-capped shoes from Vietnam, and China, for an additional period of 15 months – till March 2011. The decision was voted for by EU ministers on Tuesday in Belgium’s Brussels City and will become valid from January 1, 2010. Accordingly, the EU will levy a taxation rate of ten percent on Vietnamese leather shoes, and 16.5 percent on the commodity from China. Deputy trade minister Le Danh Vinh said the duty extension woul

The extension will be effective from January 2010. The duties, of 16.5% on leather footwear from China and 10% from Vietnam, were originally imposed in 2006 with a promise that they would last just two years. However this is the second time the European Commission has extended the terms beyond that initial period. The European Footwear Alliance, which represents footwear companies such as Hush Puppies, Ecco, Gabor and Adidas, said it was “deeply disappointed” in the decision, which it calcula

About 4.3m people are likely to splash out an average of ?27.90 each and Boxing Day is expected to be the busiest day of the year for etailers. Last year consumers spend ?102m online on Christmas Day as retailers such as Marks & Spencer and John Lewis, along with pureplays such as Play.com and M&M Direct, launched their Sales. Last year’s online shopping trends are expected to be replicated, industry body IMRG said, bringing anticipated online sales growth in December of 14%, total

Billabong International Ltd says it has entered into a conditional agreement to acquire an interest in online board sports retailer, Surfstitch. The agreement will allow Billabong acquire a minority equity interest in Surfstitch, with options to acquire 100 per cent of the business. Billabong said the purchase price was not material and was subject to a confidentiality agreement. Source: WA Today