The cotton harvest in India, the second-biggest producer and shipper, may be less than forecast if monsoon rains last longer than normal, according to the Confederation of Indian Textile Industry. Futures advanced.
Demand for cotton in China, the world’s largest buyer and grower, outstripped domestic production by 3.6 million metric tons in 2009-2010, widening a supply deficit, the China Cotton Association said today.
As a pharmaceutical salesman in Greece for 17 years, Tilemachos Karachalios wore a suit, drove a company car and had an expense account. He now mops schools in Sweden, forced from his home by Greece’s economic crisis.
Pickup trucks lined a stretch of gravel road where 150 farmers mingled between 7-foot tall cornstalks and shimmering soybeans to see which of their wealthy brethren would bid on a swath of Iowa’s richest cropland. This was a farm -- table-flat and 314 acres -- so coveted that it drew three times the usual land-sale crowd.
Pakistan’s textile shipments, which contribute 60 percent to the country’s total export earnings, may miss an industry target by 25 percent because of an energy crisis that has shut factories, a textile group said.
South Africa may lose at least 6,400 jobs in the textile industry next month when orders are issued to shut down 252 clothing plants, Business Report said, citing Leon Deetlefs, the compliance manager at the textiles bargaining council.