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.
Almost 10 years ago, Priviet Sportive SL was losing business to Chinese suppliers. These days, the Spanish clothes designer is snatching orders back as falling wages at home let it produce garments at a lower cost.
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.