South India’s cotton yarn prices remained stable today despite a fall in the prices of the natural fibre. According to trade sources, demand was not supportive, and regular but limited buying was unable to support market sentiments. Fearing losses, buyers were discouraged after cotton prices fell. Disparity and unstable market conditions are the main causes for concern for the value chain.The Mumbai market was stable as buyers remained absent. “Handloom owners were not interested in buying as th

China’s exports of textiles, apparel and clothing accessories increased to $273.246 billion in the first ten months of the current year, registering a growth of 6.64 per cent year-on-year. The latest monthly data released by the General Administration of Customs of China shows that the country’s garment exports grew by 6.4 per cent in the same period.Garments and clothing accessories exports reached $147.586 billion in the first ten months, which was 6.4 per cent higher than the same period of l

Europe’s apparel imports from China have been falling since July-September 2021, but the pace of decline increased in April-June quarter of this year. The trend is reflecting the economic challenges faced by Europe due to the Ukraine war after the disastrous pandemic. The imports came down to $6.089 billion in Q3 2022 from $11,326 billion in Q3 2021.Europe’s imports from China of $11.326 billion in the July-September 2021 quarter were the highest in the last six quarters. They spurted in April-J

China’s fabric exports to the US have been declining since June 2022. Monthly exports came down to $78.897 million in September this year. It is believed that the country is losing market share due to the US’ ban on cotton originating from Xinjiang. However, China’s exports to Australia have remained stable, reaching $18.312 million in September 2022.The monthly exports of fabrics from China to the US was worth $120.755 million in June 2022, which slipped to $110.803 in July, $93.408 million in

There has been a dramatic shift in global raw leather exports. India’s exports have dropped drastically, and Australia’s exports have also suffered a loss in the last six years. The same trend continued for these countries during the current year. However, their loss has become China’s gain as its exports of the product rose during the current year.India’s leather exports were at $885.526 million in 2017 which came down to $449.727 million in 2021. The outbound shipment was at $311.601 million i

The ITMF Start-up Awards were presented by the International Textile Manufacturers Federation (ITMF) for the first time at the ITMF Annual Conference 2022, held in Davos, Switzerland. The event was co-hosted by Swiss Textiles and Swiss Textile Machinery.In 2022, the ITMF Start-up Awards were granted to seven start-ups that had applied to present their product and service innovations. Next to an innovative business idea, the criteria applied by the jury comprised aspects like criteria for busines

The Regional Comprehensive Economic Partnership (RCEP) will help raise Asia-Pacific income by nearly 0.6 per cent by 2030—close to $245 billion a year—and create 2.8 million jobs annually, according to a report, which said due to previous free trade agreements (FTAs) among many member countries, some commodities like textiles and garments have already benefited from low tariffs.The report on RCEP’s impact on the shaping of supply chains in Vietnam was recently released by the National Centre for

The Association of Southeast Asian Nations (ASEAN) and China officially launched negotiations for the upgrade of the ASEAN-China Free Trade Area (ACFTA) at the 25th ASEAN-China Summit at Phnom Penh recently. The upgrade negotiations are aimed at ensuring that ACFTA further deepens and broadens ASEAN-China economic ties and to post-pandemic economic recovery.The ACFTA is ASEAN’s oldest FTA among its dialogue partners.The upgraded ACFTA will cover digital economy, green economy, supply chain conne

Starting from December 1, 2022, China will extend zero-tariff treatment to 10 least-developed countries. The country has taken this step, as a win-win outcome, in its endeavour to promote an open global economy while also helping the least-developed nations to accelerate their growth, as per the customs tariff commission of the state council.The zero-tariff treatment will be applicable to 98 per cent of taxable import items from the 10 least-developed countries, including Guinea-Bissau, Lesotho,

The Regional Comprehensive Economic Partnership (RCEP) will help raise Asia-Pacific income by nearly 0.6 per cent by 2030—close to $245 billion a year—and create 2.8 million jobs annually, according to a report, which said due to previous free trade agreements (FTAs) among many member countries, some commodities like textiles and garments have already benefited from low tariffs.The report on RCEP’s impact on the shaping of supply chains in Vietnam was recently released by the National Centre for