Buyers welcome Bangladeshi products

Millions of fashion-conscious residents of North-Eastern states in India are excited to learn about recent duty-free access facilities accorded to Bangladeshi products, including textile items, which will not be flooding in the North-Eastern markets, as Bangladeshi products are cheaper in price and much superior in quality, comparing to those manufactured in India. Bangladeshi textile products already remain much ahead of the products manufactured in India, because of superior craftsmanship in Bangladeshi factories.
Moreover, Bangladesh updates the latest trend and design almost on a daily basis, keeping eyes on the international market. That has possibly placed Bangladesh in the leading position as textile product exporters in the world.

U.S. Cotton Market

After bouncing off support near 93 cents/lb and rising to levels above 108 cents/lb, December futures prices were pulled lower alongside a wide range of equity and commodity prices as the outlook for economic growth in many developed countries turned more pessimistic.  A Index prices also moved lower, declining from over 116 cents/lb to less than 109 cents/lb.  In the most recent trading, prices have rebounded somewhat, but remain lower than they were a couple weeks ago.  Weak demand continues to be a feature of cotton markets, and the uncertainty posed by a darker macroeconomic outlook poses questions regarding the potential for demand growth in 2011/12.  

Due to the slowdown in demand throughout the cotton supply chain that began last spring, the USDA lowered world consumption estimates for the second straight month.  At 115.2 million bales, the current estimate for world consumption in 2011/12 is 1.6 million bales below its July level.  The consumption figure for 2010/11 also declined, falling 1.0 million bales from 114.9 to 113.9 million.  The most significant reductions to 2010/11 consumption estimates were for India (-500,000 bales), Bangladesh (-300,000), Mexico (-200,000), and Turkey (-100,000). Consumption forecasts for 2011/12 were lowered for many of the world’s largest spinning countries; both Chinese and Indian consumption figures fell 500,000 bales, Pakistan’s figure dropped 200,000 bales, Turkey’s declined 100,000 bales, Bangladesh’s dropped 250,000 bales, and Mexico’s was lowered 100,000 bales.

Egyptian Cotton Farming Revival

The ministries of Agriculture and Trade and Industry are hoping to revive the local cotton industry with a combination of incentives, aid for farmers and technological developments.

Pierre de Fermat’s Last Theorem Celebrated

Pierre de Fermat’s Last Theorem Celebrated With A?Purchasing clothing Google Doodle

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Urban Outfitters URBN Could Fall from Support Level

Urban Outfitters Inc (NASDAQ: URBN) closed Friday's trading session at $28.43. In previous year, the stock has hit a 52-week low of $28.10 and 52-week high of $39.26. Urban Outfitters (URBN) stock has been showing support around $27.80 and resistance in the $29.60 range. Technical indicators for the stock are Bearish and S&P gives Urban Outfitters (URBN) a positive 4 STARS (out of 5) buy rating. For a hedged play on Urban Outfitters (URBN), look at the Sep '11 $27.00 covered call for a net debit in the $25.63 area. That is also the break-even stock price for this trade. This covered call has a duration of 82 days, provides 9.85% downside protection and an assigned return rate of 5.35% for an annualized return rate of 23.79% (for comparison purposes only). A lower-cost hedged play for Urban Outfitters (URBN) would use a longer term call option in place of the covered call stock purchase.

Apparel Giants teaming up

2Tone Apparel has teamed up with Coast To Coast Football to provide the official sports apparel line for the youth divisions of Coast To Coast flag football as well as the Travel Team. 2Tone Apparel will provide one shirt for every registered Coast To Coast youth and travel player, helping to decrease the registration fee for the families. Over 2,500 shirts will be supplied.

With a founding mission of wanting to start a youth football league that the entire community could get something out of, May has grown Coast To Coast Football drastically over the last three years and it is now the largest youth flag football league in Arizona. Now, Coast To Coast Football manages over 1000 players each of their three seasons (Fall, Winter and Spring) and has added more youth divisions as well as adult leagues for both women and men.

Over the years, May has developed relationships with members of the community and youth football coaches looking for a place to showcase their teams and build a competitive and fun environment for everyone involved. One of the relationships developed was with 2Tone Apparel owner, Gerald Turner, who, as a coach and parent, saw the strength in May’s Coast to Coast Football league.

Beginning with the Fall 2011 season, 2Tone Apparel has teamed up with Coast To Coast Football to provide the official sports apparel line for the youth divisions of Coast To Coast flag football as well as the Travel Team. 2Tone Apparel will provide one shirt for every registered Coast To Coast youth and travel player, helping to decrease the registration fee for the families. Over 2,500 shirts will be supplied.

“We greatly appreciate this donation from 2Tone Apparel,” said May. “Both Coast to Coast and 2Tone Apparel believes that this partnership will provide something additional to the league families. It will be a win-win for everyone in the end.”

American Apparel replacing board members

(Reuters) - Clothing chain American Apparel Inc (APP.A) negotiating to replace two of its six board members, Bloomberg said, citing three people involved in the discussions.

FDI surge for Bangladesh

DHAKA - Foreign funds targeting Bangladesh have surged more than sixfold over the past year, as South Korean and Chinese investors in particular seek to capture some of the growth in the country's textiles and services sectors - raising hostility from local interests keen to protect their turf.

More clothing makers are producing in the U.S. again, finding the investment pays off

Studies show consumer attitudes toward goods made in America are improving. And though large, $30 million-plus apparel businesses used to have to move production offshore to stay competitive on price, some companies even larger than that are finding they can produce here at home with only a minimal price difference passed on to shoppers.

The high-tech rebirth of Canada's textile industry

Robert Berger is working on something deeply futuristic: a hybrid of window shade and solar panel. It not only lets light in or out, it also powers your household gadgets.

25 more textile parks get Centre's nod

The Centre has given consent to 25 new textile parks, Rita Menon, secretary, Union ministry of textiles told reporters on the sidelines of the National Garment Fair organised by the Clothing Manufacturers’ Association of India (CMAI) on Monday.

Menon said the government had received 55 applications. At present, the 40 existing textile parks generate more than Rs 29,000 crore a year. She said during the 12th five-year plan, the government may increase the size of the Technology Up-gradation Fund (TUF) by 25 per cent. Under the TUF scheme, the government will give more incentives to the processing sector.

“We will have our first advisory committee meeting for this particular TUF programme towards the end of June,” said Menon. “I am very enthusiastic about it and I think it will exceed the growth rate of 20 per cent in 2011-12 and with the sort of policy we have got into place, where we are virtually going to offset the cost for consultancy and incubation. We expect technical textile to pan out with our eight centres of excellence and a lot of money and commitment that the government has put in.”

About the new neutral fibre policy, she said the government has to deal with many sub-sections and therefore, it has been delayed.

On the 20 per cent growth target for the technical textiles, Menon said the government would provide all possible support, including financial support, to companies in this field.

India, Russia ink pact to boost apparel, textile industries

India and Russia have signed a pact to boost investment and trade in textile industries in both the countries.

A memorandum of understanding (MoU) was signed here on Tuesday by the Apparel Export Promotion Council of India (AEPC) and Russian Union of Entrepreneurs of Textiles and Light Industry.

The MoU also stipulates the promotion of textile trade, participation in fairs and exhibitions, transfer of technology and exchange of know-how in textile manufacturing and processing.

A four member Textile Communication Committee, consisting of members from both the countries, is to be set up to follow up on its decisions.

India’s Ambassador to Russia Ajai Malhotra said the MoU formalises a mutual desire between Indian and Russian business partners to boost trade and investment cooperation in apparel and textiles.

He said the Indian apparel industry was famous worldwide for high quality and price competitiveness of its products, and annually exports $11 billion worth of goods.

Malhotra said that Indian companies last year exported about $120 million worth of garments to Russia, which was only 2 percent of Russian garment imports. He said there was huge scope to increase Indian garment exports to this country.

“The signing of the MOU and understandings reached here between the partners imply that this figure would be enhanced several folds in the years ahead,” the ambassador was quoted as saying in an e-mailed Embassy press-release.

Ahmedabad to host two-day international textile meet next month

The two-day event, known as 'International Textile Summit 2011', is being projected as an opportunity for the textile industry in the country to create a single platform for sharing information.

"We did a survey across the country and found that the entire value chain of textile industry didn't have a platform to portray itself. Which is why, we have initiated this event in partnership with Ministry of Textiles in order to bring the entire textile industry in a single place. Since such an event is being conducted for the first time, this year it will be an exercise to build awareness among players," said Abhishek Majumdar, director, Blue Events.

Among other things, the event will see sessions on cluster development, technical textiles, Technology Upgradation Fund Scheme (TUFS), and ginning to spinning value chain.

China Hijacked apparel industry

2010 had but one country winner: China. With its share of the US market surging towards 40%, and FOB prices beginning to rise, David Birnbaum asks why, and how, the country continues to maintain its dominance. The answer, it seems, is that everyone else competes to make the easy stuff, leaving China to mop up the profits elsewhere.

Excise Duty on Ready-made Garments not Acceptable to Manufacturers

Garment manufacturers and retailers across India observed strike on Friday, protesting against the proposed mandatory excise duty of 10 per cent for all branded ready-made garments and textile made-ups in the Union budget for 2011-12.

 South India Garment Association also protested in Bangalore saying the levy will ruin the industry.

According to the budget, ‘branded apparel’ is any garment which has the name, label, tag, logo or any identification mark, thus brings all apparels under the excise duty net.

Sri Lanka Apparel Industry Growing Fast

The apparel industry will continue its growth momentum and is expected to end the year by recording a growth of four percent. The industry is really booming except for a few hiccups, Sri Lanka Garment Buying Offices Association President J D R Sylvester said. A sum of Rs 40 million allocated from the consolidated fund per year was spent to promote the local apparel industry in the past and this money will be diverted to the new image building campaign this year.

Turkey to favor Pakistan for GSP+ status in EU

KARACHI: Director General Turkish Foreign Trade Undersecretariat on Monday said that regarding GSP+ in EU, Turkey gave its full support to the case of Pakistan’s trade—despite the fact some members of WTO had concerns over it.

Industrialists and FBR Pakistan fail to resolve tax issues

KARACHI, March 21: The manufacturing sector is in stress as negotiations between the Federal Board of Revenue and the industry over the recent amendments withdrawing parts of zero rated status of five major export sectors failed to yield results.

IFAI Updates Members Conditions after Earthquake

Mr. Kikuko Tagawa, executive director of Industrial Fabric Association International Japan, has been collecting information from IFAI members impacted by Friday's earthquake and tsunami that have devastated several areas of Japan. So far, no IFAI members in Japan have reported serious damages or loss of life. IFAI President and CEO Stephen Warner has been receiving many emails and phone calls from people in the industry and staff regarding Tagawa’s status as well as that of the members of IFAI Japan.

Japan earthquake will affect Chinese Silk industry

After the intensive earthquake on March 11, Japan has closed its ports and airports. Japan is one of the biggest market for Chinese Silk. The People's Republic of China is the world's largest silk producer. In 2005, it accounted for 74 percent of the global raw silk production and 90 percent of the world export market.