Home / Knowledge / News / Textiles / Russian, Asian traders buy all the cotton at Uzbek fair
Russian, Asian traders buy all the cotton at Uzbek fair
15
Oct '11
Traders from Russia and Asian countries purchased all cotton at the 7th International Uzbek Cotton and Textile Fair held in Tashkent, the capital city of Uzbekistan, on 12-13 October.

In the absence of buyers from the West, 60 percent of cotton and textiles sold at the fair were bought by Asian traders, while the remaining 40 percent was procured by Russian companies.

It is for the first time that all the cotton sold at the Fair will be destined to non-Western countries, including Bangladesh, Japan, China, Pakistan, Singapore, Vietnam, Turkey, UAE, South Korea, Iran and CIS countries.

At the Fair, Uztsentrimpex, Uzbekistan's centralised company that coordinates the sale of cotton, signed contracts to supply about 600,000 tons of cotton valued at US$ 550 million. Last year, the volume of contracts singed was 650,000 tons.

The quantity of cotton sold at the Uzbek Fairs dropped drastically in 2007 to 650,000 tons from a peak of 1.7 million tons in 2006.

In 2008, European and the US firms began boycott of Uzbek cotton cultivated while using forced labour, including child labour. Some of the famous companies that have stopped buying Uzbek cotton include H&M, Wal-Mart, Burberry, Marks & Spencer, Gap, Levi's and Target. These companies have committed to maintaining the boycott until the Internationl Labour Organization (ILO) issues a statement confirming Uzbekistan's complete stoppage of use of forced child labour for harvesting cotton.

However, the boycott by Western companies has not significantly impacted the sale of Uzbek cotton, as they have been replaced by Russian and Asian buyers.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Apparel/Garments | On 23rd Mar 2017

E-retailers to pay up to 1% TCS under GST

E-retail marketplaces will need to deduct up to 1 per cent tax...

Textiles | On 23rd Mar 2017

Lanxess to expand chemical intermediates capacity

The Advanced Industrial Intermediates business unit of German...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search