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          Following a few weeks of uncertainty and mixed sentiment, the Australian wool auction market this week finally relented to a weakening price versus demand scenario. Prices for all types and descriptions across the Merino offering faltered somewhat and falls of varying degrees occurred, the Australian Wool Innovation said in its Wool Market weekly report. however, the crossbred and carding sectors bucked the trend and stayed relatively firm around the established basis, said the report for the week ending May 26.

          A two-day module on financial literacy was organised for Philippines’ weaving community, who significantly contributes to the country’s economy. The module offered lessons and workshops in product costing, money management, standardisation, scheduling, inventory management and accounting. Handloom woven products have an important place in country’s exports. 

          Asian Textile Machinery Expo (ATME) India will be the first ever exhibition on textile, garment machinery and related services in New Delhi, capital of the second largest textile exporter country, India. The exhibition will take place from November 24-27, 2017 and is being conceptualised with a strong belief in the Indian government's Make in India scheme.

          Hosiery major Dollar Industries Limited registered a turnover of Rs 906 crore for the FY 2016-17 as against Rs 830 crore during the previous year of FY 2015-16, as per the audited financial result, recording a revenue growth of 9.15 per cent. Revenue for Q4 FY17 was Rs 282 crore, witnessing a growth of 23.24 per cent as against Rs 229 crore for Q4 FY16.

          Cotton Association of India (CAI) has retained its earlier estimate of cotton crop for 2016-17 crop year beginning October 1, 2016, at 340.5 lakh bales of 170 kg each. The projected balance sheet drawn by the CAI, in its April estimate, projects total cotton supply for the season at 410.50 lakh bales while domestic consumption is pegged at 300 lakh bales.

          Russian regions, especially Ivanovo and St. Petersburg, are turning out to be the main players in driving forward both the light industry (as the Russian textile and apparel industry is called) and fashion. The Ivanovo region, located in the European part of the country, accounts for 80 per cent of the entire Russia’s cotton fabric manufacturing.