We’re used to outsourced labor from the U.S. to India, but later this year, Indian textilers Alok Industries will reverse the course. The Mumbai-based textile manufacturer, which counts Wal-Mart and Macy’s among its clients, has announced plans to open a mill in the U.S., citing energy savings. Arun Agarwaal, Alok’s CEO, told the press that the U.S.’s high cotton production was part of … [Read more...]
Cotton Production Will Drop, But Still Exceed Consumption
May 21, 2013 by
The U.S. Department of Agriculture (USDA) has made its first cotton forecast for 2013-2014: Global cotton production will continue to exceed consumption, but production will decrease and consumption will rise. For the fourth season in a row, the world will produce more cotton than it uses, but production will drop 3% to 117.8 million bales, its lowest in three seasons. 70% of the world's … [Read more...]
U.S. Cotton Prices Fall 4.8% in April
May 3, 2013 by
After rising 4.6% in March, U.S. spot cotton prices did an about face in April, and fell by 4.8%, or about four cents per pound. The 7-market average U.S. spot price for upland cotton increased to 79 cents. Prices finished April 4% below year-ago levels. The past month has seen increased supply from rising global cotton stocks combined with softening demand due to style trend shifts toward … [Read more...]
Price Soars for India’s Cotton Yarn; Spinners Suffer As Orders Decline
April 28, 2013 by
Recent upturns in the price of cotton yarns from India could squelch exports from that country and take a bite out of its GDP. Fears of the economic damage caused by higher cotton yarn prices swept through the offices of yarn spinners, apparel exporters, and the Indian government, as they all looked for a solution to the problem. "We are losing our competitive edge in the fabric market due … [Read more...]
Cotton Falls As Speculators Exit Market
April 24, 2013 by
Cotton futures prices fell to a two-month low Tuesday, with spot prices down more than 12% from their high reached in March. Investors are liquidating long positions before the spot contract expires, and taking profits after a recent uptick pushed prices to a one-year high last month. The July contract was most active, closing down 1.05 cents to 85.10 cents per pound. In late session trading … [Read more...]
Peru’s Cotton Farmers Need Modernization, Not Subsidies
April 17, 2013 by
A fragile economy, plummeting exchange rates, and growing costs of labor have kept Peru from becoming major players in the textile and clothing export game, according to a statement from the Asociación de Exportadores (ADEX). The association’s president, Varilias Juan Velasquez, said that cotton exports are essential to the sector’s progress. He called the effect of government attempts to … [Read more...]
Indian Leader Calls for Yarn Price Controls
April 16, 2013 by
Ramagopalan, the leader of the Indian religious and cultural organization Hindu Munnani, has reached out to the Indian central government to encourage them to create a high-level committee charged with fixing the price of yarn. The committee would be tasked with implementing protectionist measures to protect the textile clusters in Tirupur. According to Ramagoplan, recent price moves have made … [Read more...]
U.S. Cotton Prices Rise 4.6% in March
April 9, 2013 by
U.S. spot cotton prices increased by over three cents in March, a gain of 4.6%, bringing its year-to-date rise to almost $.13 per pound. The 7-market average U.S. spot price for upland cotton increased to over $.83. Prices are 1% below year-ago levels. A pickup in demand from China and, more recently, South Asia, continues to put upward pressure on prices, as has a shortage of rainfall … [Read more...]
Guest Editorial: Tommy Horton. Volatility May Be Theme Of 2013 Cotton Crop
April 4, 2013 by
Guest editorials are a new feature at Sourcing Journal. We hope they bring you valuable information and an interesting reading experience. If you are interested in writing a guest editorial, or if you wish to contact the author, please email us. Tommy Horton is the editor of Cotton Farming Magazine. He has edited the magazine for 14 years, and he also worked in the communications department of … [Read more...]
Cotton Prices Looking Like 2008
March 29, 2013 by
Cotton prices are up 18 percent for the first three months of 2013, but fell Thursday as investors took profits before the long weekend. The gain is the biggest in two years, with prices up 6 percent for March alone. The rally was spiked by a USDA report forecasting a 20 percent fall in planted cotton acres this year. The report was widely expected to produce the jump in buying. Prices topped … [Read more...]
NEW Report From Sourcing Journal and TradeCard Helps Brands and Retailers Implement Sourcing Strategies in the Americas.
