Home / Knowledge / News / Textiles / Row continues between spinners & cotton exporters
Row continues between spinners & cotton exporters
10
May '11
With a view to alleviate the financial burden endured while acquiring the raw inputs, the textile factory owners are still pushing their demand for stopping cotton exports.

In spite of efforts to restrain it, the ongoing row between the private sector spinning and weaving firms and the cotton exporters continues to outdo the textile industry.

The Federation of Cotton Exporters (FCE) has inked an amicable deal with the domestic spinning and weaving manufacturers to stop accepting fresh export contracts till first part of June. This contract allows the domestic firms to procure cotton at the export price excluding the setup fees.

Owing to government's disregard to meet their demands to halt cotton exports and waive import duty, the domestic spinning and weaving firms have ceased operations at their factories.

An exceptional rise in cotton prices coupled with a declining yarn supply has badly hit all the spinning and weaving firms in Egypt, and seems to have hurt the private sector, the most.

However, the FCE while firmly contesting the demands of the ailing firms has forewarned that halting exports before executing all the predetermined commitments would create major issues for traders and may cause the country to lose global export markets.

Halting exports would prove a real disaster for the sector, FCE said and added that, the move would greatly tarnish Egypt's reputation in the global cotton market, and if the industry once loses a client it would never be able to get him back.

A dwindling export market would induce the domestic cultivators to abandon cotton cultivation and to take up other profitable crops. Further, a memorandum has been handed over to the Prime Minister by the FCE detailing the serious legal, economic and agricultural consequences of fulfilling the demands of the spinners and weavers.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 27th Mar 2017

NYCEDC announces $51mn package for NYC garment industry

New York City Economic Development Corporation (NYCEDC), in...

Apparel/Garments | On 27th Mar 2017

Fynd raises $500K Series A funding from Venture Catalysts

Fynd, an online to offline (O2O) e-commerce fashion marketplace, has...

Apparel/Garments | On 27th Mar 2017

India's fashion market to touch $30 bn by 2020: Report

The fashion market in India is estimated at $70 billion in 2016, with ...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eamonn Tighe
Nature Works LLC

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

Kai Poehler
Voith Paper GmbH & Co. KG

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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