China To Import 3.3 Million Tonne Of Cotton This Year

China is expected to import more cotton this year as the domestic production of the crop is likely to be less than that required for its local consumption.

During the current Chinese cotton year, calculated from August to July, cotton production in China is estimated to be around 7 million tons compared to its domestic requirement of 10 million tons, according to Terry Townsend, Executive Director at International Cotton Advisory Committee (ICAC).

Speaking on the sidelines of World Cotton Research Conference in Mumbai, Mr. Townsend said China is likely to import about 3.3 million tons of cotton this year compared to its import of 2.7 million tons last year, a rise of 22.22 percent year-on-year.

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Ruddick Completes Sale of A&E Biz To KPS Capital

Ruddick Corporation announced that it has completed the previously announced sale to two newly formed affiliates of KPS Capital Partners, LP of all of the Company's ownership interest in its American & Efird business, for $180 million in cash consideration, subject to adjustments for working capital and certain liabilities, including under funded pension liability and foreign debt as previously disclosed.

Ruddick Corporation is the parent company of Harris Teeter, Inc., a leading regional supermarket chain with operations in eight states primarily in the southeastern and mid-Atlantic United States, and the District of Columbia.

Aerican & Efird (A&E) is one of the world's largest global manufacturers and distributors of industrial sewing thread, embroidery thread and technical textiles, produced from natural and synthetic fibers.

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Centre Gives Nod For Gulbarga Textiles Park

The Karnataka government’s proposal for setting up a textiles park at Gulbarga has been given a nod by the Central Government, the State Textiles Minister, Mr. R Varthur Prakash has revealed.

The Minister stated that the Centre would provide Rs. 400 million by way of assistance for setting up the park. He informed that the State has also urged the Centre to set up such parks in Bellary, Kolar, Belgaum, Tumkur, Chikkaballapura and Chitradurga.

Mr. Prakash said the State has met with good response at the Technotex 2011, an international seminar on technical textiles held in Mumbai, where Karnataka was a partner State.

He added that the State is likely to attract investments worth around five billion rupees. He further said that the State would provide a power subsidy of one rupee per unit to the industries setting up their units in textile parks of the State.

Presently, the State houses around 2,500 garment units in its textile parks, in addition to around 55,000 handlooms and 1.007 million powerlooms.

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East African Cotton Farmers Losing Out Due To Absence Of Business Link

Cotton farmers in east Africa do not gain from the high international cotton prices due to absence of a link between them and garment producers and designers in world’s leading fashion centres, African Cotton and Textile Industries Federation (ACTIF) Chairman, Jaswinder Bedi ,has said.

Speaking at the East African Cotton, Textile and Apparel (CTA) conference in Mombasa, the second-largest city in Kenya, Mr. Bedi said the absence of a link between the local Kenyan farmers and clothing manufacturers and designers is also a hurdle in the revival of Kenya’s domestic cotton industry.

While cotton prices prevailed at around Sh100 per kg in international market, farmers in Kenya fetched only around Sh20 to Sh65 per kg, he said.

He added that high cost of inputs prevents cotton production, as just pesticides alone constitute a one-third of the farmer’s input cost.

The conference organized by the Kenya Association of Manufacturers (KAM), Kenyatta University and ACTIF was aimed at enhancing the competitiveness of the cotton crop with the help of skill development, enabling legislation and innovation.

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Australian Namoi in JV with China state cotton firm

Australia’s Namoi Cotton Co-operative Ltd has entered into a 50-50 joint venture with China National Cotton Group Corp (CNCGC), a China state cotton firm, which will help the Australian firm market its produce across the globe through 2012-2017.

Namoi, Australia’s leading cotton processor, has registered loss this year in spite of the country witnessing record cotton production and high prices of fibre.

The current deal is expected to improve the balance sheet of the Australian cotton processor and place it in a better position to compete with other leading companies in the global cotton trade.

The Australian firm registered a net loss of US$ 58.5 million during the six months ended August 31, 2011, which it attributed to unparalleled volatility in cotton prices and increased cost of borrowings.

The Australian firm recorded loss in spite of the country producing a historic four million bales (4.4 bales = 1 ton) of cotton during the current year.

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Prices Of All Long Wool Types Surge

The wool market continued its upward trend at this week’s sale and the Cape Wools Merino indicator gained 3.9% on last week to close at R104,03/kg (clean) – an increase of 13% on the opening sale.

Supply concerns appear to be a major driving force with supplies in the main consuming countries currently at fairly low levels. The Australian market also saw an increase in prices.

The rand was slightly weaker against the US dollar, dropping 0.8% compared with last week’s average rate, trading at R7,95. It was 0.4% weaker against the euro at almost R10,95.

There was good competition from the various sectors of the trade and 96% of the offering of 10 369 bales was sold. Major buyers were Modiano SA (3 927 bales), Standard Wool SA (3 084 bales), Stucken & Co (1 189 bales) and Lempriere SA (1 014 bales).

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23rd Annual Conference for Textile and Apparel Importers

The United States Association of Importers of Textiles and Apparel (USA-ITA) and the American Import Shippers Association, Inc. (AISA) will host the 23rd Annual Textile and Apparel Importer Trade and Transportation Conference on Tuesday, November 8th, in New York City.

This year, the conference will feature top Obama Administration officials, Congressional leaders, USA-ITA and AISA leadership and counsel, and industry executives discussing transportation, sourcing, supply-chain logistics, and the recently passed trade legislation, among other topics.

The confirmed Administration speakers include: Kim Glas, Deputy Assistant Secretary for Textiles and Apparel at the U.S. Department of Commerce; John Leonard, Director of Textile Enforcement at U.S. Customs and Border Protection; and Gail Strickler, Assistant U.S. Trade Representative for Textiles at the Office of the U.S. Trade Representative.

The confirmed Capitol Hill speakers include: U.S. Representative Gregory Meeks (D-NY), Paul DeLaney, International Trade Counsel for the U.S. Senate Finance Committee; and Brock McCleary, Deputy Political Director for the National Republican Congressional Committee (NRCC).

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