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Some of the emerging markets being focused by the textile and apparel makers
for last few years include South America, Japan, Australia and New Zealand.
“Entry into new markets is never easy and it is a long-term exercise. But
hopefully, last few years’ efforts will start showing results this fiscal year,” Mr.
Mehta opines.
Last month, chairman of Apparel Export Promotion Council (AEPC), Mr. A
Sakthivel proposed to the Union Minister for Commerce, Industry & Textiles Mr.
Anand Sharma to increase duty credit scrip from the present 3-4 percent to 5
percent for the non- traditional markets to reduce the dependency on the US and
the EU.
(Source Fibre2fashion - Apr 06, 2013)
Cotton continues winning spree
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Cotton prices on MCX posted gains for the sixth consecutive month in March
with a rise of around 2.3 per cent and a rally of around 15 per cent in the first
quarter of 2013. Rising demand expectations from China and lower arrivals in
the local markets acted as a supportive factor for prices. However, in the end of
March, prices came under pressure as investors were worried over fibre sale by
the world’s top two producers India and China. But, the Indian government did
not release stocks, while China released less quantity than expected. This led
cotton prices to once again move in upward.
MCX cotton April contract, which rose almost 12 per cent from its lows of
February, is trading at around Rs 19,000 per bale (1 bale=170 kg). In the
international markets, cotton prices touched an 11-month high of 93.93 cents per
pound in March and are trading around 88.20 cents per pound at present.
Lower supplies in the domestic markets and rising cotton prices have caused
concerns for the textile industry, which is demanding government to direct
Cotton Corporation of India (CCI) and National Agricultural Cooperative
Marketing Federation of India (Nafed) to offload the cotton stock to domestic
mills. However, the agriculture ministry is opposing the same as offloading
stocks may drag down prices their support prices.
According to Cotton Advisory Board’s (CAB) latest estimates, domestic cotton
production is pegged 330 lakh bales for 2012-13 season (October-September),
down 7 per cent from the previous year’s estimates of 355 lakh bales. Cotton
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