Home / Knowledge / News / Textiles / Textile industry hit by unduly high lint prices
Textile industry hit by unduly high lint prices
11
Mar '08
Textile companies of Zimbabwe are facing a near collapse as a result of soaring prices of cotton lint and high duty imposed on imported raw materials and inputs.

The consequences are so threatening that not only will there be a massive loss in jobs but also a failure in tapping valuable export markets.

Unless Government seriously considers a discounted lint price and a relaxation on duty for imported raw material, the situation is unlikely to change.

Lint prices have surged from Z$6 million a kilogram to Z$15 million. Experts believe that considering the industry requirement of 48,000 tons per year, the increase in prices is bound to elevate the cost of production by more than Z$100 billion.

A recommendation has been made to the Government for providing a subsidy to the textile industry through marketing companies like Cottco which will enable spinners to buy lint at affordable prices and remain competitive in the international market.

In an exclusive interview with Fibre2fashion, Mr T Gutu, Chairman of Textiles Manufacturers Association of Zimbabwe stated, “The reason behind rising cost of cotton in Zimbabwe is two-fold. Our exchange rate is fixed by the state, and we have a hyper-inflationary economy. Increasing price is therefore an inevitable trend. In addition, the international price of lint has appreciated with the devaluation of the US dollar, and hence in real terms commodity prices will follow suit.”

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Lee Cooper

Apparel/Garments | On 28th Mar 2017

CCI clears FLFL proposal to divest Lee Cooper

The Competition Commission (CCI) of India has approved the proposal...

Textiles | On 28th Mar 2017

Bardoli CEFC to benefit south Gujarat MSMEs

India’s first common engineering facility centre (CEFC) at Bardoli,...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
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