Cotton prices moving further lower on Tuesday after dull trading activity at cotton market. Falling cotton prices also impacted phutti (seed cotton) negatively, with Punjab quality being quoted between Rs2,700-2,900 and Sindh variety in the range of Rs2,700-3,300 per 40kg. Previously phutti prices were being quoted between Rs2,900-3,500 per 40kg.

Chinese companies are the major players in the world’s textile market and important customers in the cotton market are fast increasing their level of investment in Africa. They have been largely focused on large projects as textile production in China is today confronted with rising wages, higher energy bills and mounting logistical costs, as well as quotas on the import of cotton.

The wool market that used to make up 26 percent of New Zealand’s exports is now hoping to position itself as more sustainable than synthetic alternatives by capitalising on the growing worries regarding the shedding of microfibres into the world’s oceans. The wool sector of New Zealand is also seeking to increase its credibility regarding sustainability as it claims to receive an unfair ranking in LCA (Life Cycle Assessment) criteria.

The Economic Survey report 2017-18 has established that the implementation of Rs 6,000 crore package, announced for the apparel sector on June 2016, has provided an impetus to the exports of ready made garments (RMG) of man-made fibres.

The Rs 6,000 crore package for the apparel sector, implemented in November 2016, has helped exports of ready-made garments (RMGs) made of man-made fibres (MMFs) to increase by 16% over the comparable groups in less than a year, the economic survey said, adding that “the impact of the package increased over time and did not show any signs of attenuation.” 

Tirupur garment manufacturers to cut fabric processing cost are now increasingly shifting to Mysuru, neighbouring state preferring unauthorised fabric dyeing units, which have not adopted 'Zero Liquid Discharg'e (ZLD) in villages near Mysuru in Karnataka and other districts of the state, industry sources said.