PR Resource – Muarateweh.net

Every day we hear about problems faced by the textile industry in Pakistan, with high cost and low prices offered by buyers.

I have been working as a buyer in a sport apparel company in New Jersey for three years and before that I was an assistant buyer for a home textile importer for almost two years. I have worked with many companies from various countries.

My experience with Pakistan’s businessmen is that many are not good salesmen (exceptions are there). They don��€™t know how to get better prices for their product. We buy huge quantities of apparel from Nepal, India, Sri Lanka and Bangladesh but their salesmen are tough negotiators as compared to Pakistanâ€�¢s.

If I tell a Pakistani salesman that I am getting X prices from his competitor in Pakistan, then this gentleman will immediately reduce his prices by five to Ǫ per cent, without even giving second thoughts. In fact I was just bluffing and the salesperson falls into my trap. (continue reading…)

(Muara Teweh via Fibre2Fashion) Pakistan Apparel Forum (PAF) has urged the Government to discontinue export of cotton as soon as possible, if they want to save the crumbling apparel industry of the country.

The demand of cotton from domestic enterprises is much more than the total cotton produced in Pakistan and on top of it if the authorities allowed export of cotton, there is bound to be shortage, resulting in increased prices of cotton, the brunt of which ultimately will have to be borne by the garment producers.

In 2007- 08 the total production of cotton in Pakistan was around 12.6 million bales, whereas annual requirement was nearly 15.5 million bales. As a result, the country has to import lint worth Rs 50 billion yearly to meet the shortfall of approximately 3 million bales. (continue reading…)

Chennai: What does one do when production is not enough to meet export obligations? Buy from another country and meet them?

This is precisely what the Kenyan trade is doing – buying Indian tea to fulfill its export commitments. The Kenyan tea industry is currently suffering from lower production.

According to statistics available, its tea production during January-May is down by 36.8 million kg (mkg) at 134.6 mkg. The production has been affected by drought and political tension witnessed during the beginning of the year.

Kenya is one of the top two tea exporting nations along with Sri Lanka. “It cannot be seen faltering on its commitments since unlike India, it totally depends on exports. It also has export targets to meet,” says Mr Ullhas Menon, Secretary-General of the United Planters’ Association of Southern India. (continue reading…)

GENEVA (Muara Teweh via Reuters) – Egypt will resume exporting rice at the beginning of September, reversing a temporary export ban, and could sell up to 1 million tonnes in foreign markets during the coming crop year, Egypt’s trade minister said on Monday.

“We are going to continue exporting at the beginning of September,” Rachid Mohamed Rachid told Reuters in an interview on the sidelines of a World Trade Organisation meeting.

Exports could reach 1 million tonnes in the 20Ǩ-2009 crop year, he said.

Egypt had previously banned exports of rice until April 2009 to hold down prices on the local market, where inflation hit 20 percent in June.

Rice prices have risen this year as countries from India to Vietnam slapped bans on exports to hold down inflation. (continue reading…)

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AFP Photo: Residents struggle to remove crude oil in Taean, about 170km southwest of Seoul. South Korea’s worst-ever oil spill reached the country’s southwest coastline on Saturday, polluting beaches and threatening valuable sea farms, witnesses and officials said
(AFP/Kim Jae-Hwan)

NEW YORK (AFP) – Wall Street enters the home stretch of 2007 in an upbeat mood as investors brace for a meeting of the Federal Reserve which is widely expected to yield a third straight cut in US interest rates.

The market generally cheers interest rate cuts and most economists are calling for Fed policymakers, led by chairman Ben Bernanke, to reduce US borrowing costs by a quarter percentage-point on Tuesday. (continue reading…)