Mar '08
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 18th Oct 2017
Sutlej Textiles adds American Silk Mills to its portfolio
Sutlej Textiles and Industries Ltd (STIL) has announced the...
Apparel/Garments | On 18th Oct 2017
Arvind to set up mega apparel facility in Gujarat
Arvind Limited, one of India’s largest textile to retail...
Textiles | On 18th Oct 2017
Cotton stocks accumulating everywhere outside of China
Global cotton stocks outside of China are expected to rise by nearly...
Interviews View All
Amit Jain
Shingora Textiles Ltd
‘In terms of fabric, the fastest growing category for us is a blend of...
Mandeep Nagi
Shades of India
Women value something that is unique and has a flavour of India
Anavila Misra
Anavila Collection
Fashion shows are also encouraging and highlighting sustainable fashion
New Delhi-based Jogindra Industries Private Limited provides an assortment ...
Established in 1956 with a small beginning, Embee today manufactures a...
MAG Solvics Private Limited was established in 1991 to design and develop...
Larry L Kinn
Suominen Corporation
Larry L Kinn, Senior Vice President - Operations Americas of Suominen...
Urs Stalder
Sanitized AG
Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...
Eamonn Tighe
Nature Works LLC
Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...
Vaanee Bhatia
Gritstones Clothing
<div>Delhi-based Gritstones Clothing offers quality and exemplary style...
Aditi Somani
Aditi Somani
Aditi Somani specialises in luxury fusion wear with international cuts and ...
Akta Adani
India Boulevard
India Boulevard is a San Francisco-based curated fashion marketplace that...
Recommended
news category
Related Categories:
Do you think the sustainability space has the needed tools and resources available for a business to lead change?
Yes No SkipActive Poll
Do you see sustainability as a route to business growth?
YesTotal Votes: 67
Do you think adopting a sustainable approach will be a profitable move for your business?
Yes No SkipActive Poll
Do you think the sustainability space has the needed tools and resources available for a business to lead change?
YesTotal Votes: 67
Do you want the world to know about your sustainability journey and your business’ environmental footprint?
Yes No SkipActive Poll
Do you think adopting a sustainable approach will be a profitable move for your business?
YesTotal Votes: 67
Thanks for your valuable feedback. Claim your free latest sustainability e-book.
Active Poll
Do you want the world to know about your sustainability journey and your business’ environmental footprint?
YesTotal Votes: 67
E-News Insight
Latest News Update in Your Mail Box.
