INSIGHTS The global shipping container fleet has experienced a 1 per cent increase, reaching 51.4 million TEU, with expectations of a 2.3 per cent growth in 2024. This growth is attributed to rising trade and disruptions in crucial maritime routes, including the Red Sea and Panama Canal. These disruptions have led to longer voyage times and inventory challenges. The global shipping industry is poised for growth, with an anticipated increase in the pool of shipping containers due to expanding

INSIGHTS China's goods trade achieved a $608 billion surplus in 2023, the 2nd highest on record, according to the State Administration of Foreign Exchange. The current account surplus hit $264.2 billion, with a 1.5 per cent surplus-to-GDP ratio, considered reasonable. This growth is credited to ongoing economic recovery, leading to quarter-by-quarter trade expansion. China's trade in goods yielded a substantial surplus of $608 billion last year, marking the second-highest level on record, as

INSIGHTS Research in Spain is focusing on a recycling pathway that transforms fabric waste into materials and lactic acid. The RECIMAP project, receiving funding from the EU, is working on the selective separation of cotton and polyester blends through the synthesis and use of ionic liquids—a more environmentally sustainable alternative to traditional solvents. Research at the Plastics Technology Centre (AIMPLAS) in Spain is focusing primarily on an innovative recycling pathway that tra

Red Sea-Suez Canal crisis may severely impact global trade of textiles and apparel. Many retail brands are continuing to face prolonged disruption on their supply chain as shipping companies continue to avoid the Suez Canal. There will surely be a domino impact for next several months. At this point, unfortunately it is almost unpredictable how the overall situation will unfold in the weeks to come. A very close watch is required even after several months have passed, as no solution is in sight

INSIGHTS In January 2024, the global supply chain saw a reduction in spare capacity, with the GEP Global Supply Chain Volatility Index indicating a move towards a tighter landscape. Disruption in the Red Sea led to higher transportation costs and increased safety stockpiling. Improvements in demand and robust supply conditions hint at a stronger 2024. In January 2024, there was a significant shift in global supply chain conditions, with a notable reduction in spare capacity across global supp

To get rich production of cotton crops, needs to ensure early cultivation of cotton Cotton is one of the most important fiber and cash crop of India and plays a dominant role in the industrial and agricultural economy of the country. Agriculture experts have advised farmers to ensure early cultivation of cotton crops to get bumper production. Figure: The farmers should also use approved varieties of cotton including FH-333, CKC-6, CKC-3 and Hataf-3 as these varieties have sufficient resistance

INSIGHTS Vietnam's textile-garment sector is targeting an export turnover of $44 billion this year—up by 10 per cent YoY. The sector's exports last year reached $39.5 billion—down by 10 per cent YoY. The extended producer responsibility clause, the EU's carbon border adjustment mechanism and the trend of 'sustainable fashion' are some of the challenges this year. The textile-garment sector in Vietnam is aiming for an export turnover of $44 billion this year—up by 10 per cent

INSIGHTS There's has been a decline in the use of recycled materials in the economy since 2018, despite increased interest in the circular economy, Circularity Gap Report 2024 reveals. It identifies policy, finance and employment as key areas for improvement. Deloitte's partnership with Circle Economy Consulting aims to help organisations embrace circular practices. Since 2018, the majority of materials entering the economy are new, with the proportion of secondary, recycled materials steadil

INSIGHTS Indian textile and chemicals businesses may not be immediately hit due to the Red Sea crisis due to either better ability to pass on higher costs or a weaker trade cycle, CRISIL Ratings has said. The home textiles sector's mid-teen margins can absorb higher freight rates now. A prolonged strife can hit the profitability and working capital cycle of exporters. Indian businesses in the textile and chemicals sectors may not be immediately affected due to the ongoing crisis around the Re

Textile Raw Material Price Item Price Unit Fluctuation Date Crude Oil WTI 75.19 USD/Barrel 2.42% 2024-1-24 PX 1036 USD/Barrel 0.48% 2024-1-24 Crude Oil Brent 80.06 USD/Ton 1.91% 2024-1-24 PTA Buy 5876 RMB/Ton 0.79% 2024-1-24 PTA Sell 750 USD/Ton 0% 2024-1-24 MEG Buy 4582.5 RMB/Ton -0.38% 2024-1-24 MEG Sell 540 USD/Ton 0% 2024-1-24 CPL Buy 13650 RMB/Ton 0.74% 2024-1-24 CP