To highlight the importance of this global commodity in generating jobs and maintaining economic stability in less developed countries, the United Nations General Assembly declared October 7 as World Cotton Day in 2021.Cotton represents so much more than just a commodity. This natural fiber is a life-changing product worldwide that sustains 32 million growers (mostly women) and benefits over 100 million families across 80 countries (North America, Europe, Asia-Pacific, South America, and Middle

Germany imported home textiles worth $3.297 billion during the first half (H1) of 2022. China remained its top supplier with shipment valued at $910.958 million (27.62 per cent), even as its share declined by 38.30 per cent from $1.475 billion in H1 2021. Turkiye, Poland, Netherlands and Pakistan were among the top five supplier countries.Turkiye exported home textiles worth $353.726 million to Germany in January-June 2022, amounting to 10.73 per cent of the latter’s total imports, according toF

The US imported industrial textiles worth $807.835 million in the second quarter (April-June) of this year, the highest in more than two years. Increased imports of industrial textiles show improvement in industrial activities in the world’s largest economy. The country’s imports of industrial textiles were valued at$2.941 billion in 2021.US’ imports of industrial textiles increased in the second quarter compared to $720.832 million in the first quarter of the current year, according toFibre2Fas

India’s jute and mesta production is expected to decrease to 100 lakh tons in the current kharif season 2022-23 as the sowing area has shrunk, according to the government’s latest estimate. The country produced 103.17 lakh tons of jute and mesta last year. The government data reveals that the production of the two crops has been stagnant for years.India may miss its jute and mesta production target this year, which was set at 105 lakh ton, the Union ministry of agriculture said in its first adva

United Nations Conference on Trade and Development (UNCTAD)and World Customs Organisation (WCO) have signed a memorandum of understanding (MoU) to boost customs modernisation by enabling interoperability between UNCTAD’s Automated System for Customs Data (ASYCUDA) programme and various WCO projects.Secretary-general Rebeca Grynspanand her WCO counterpart Kunio Mikuriya signed the agreement on October 4, updating the two organisations’ previous agreement from 2013, according to a press release by

China’s e-commerce logistics index in September 2022 has increased to 108.1 after a decline seen in August. The recent surge in the country’s e-commerce logistics index pushes it close to the 108.9 mark in February 2022, according to a joint survey by the China Federation of Logistics and Purchasing (CFLP) and e-commerce giant JD.com.Several logistics indexes have bounced back after a boost in business operations and market demand. “The rebound can be attributed to the steady recovery of househo

Cotton yarn prices continued to follow downtrend in south India. Tiruppur registered a drop of ₹30-40 per kg in cotton yarn as Tamil Nadu’s spinning mills slashed prices to align with cheaper cotton. Traders said that weavers’ demand improved slightly at lower prices. The prices of cotton yarn may further fall which may support trading activities.In Tiruppur market, cotton yarn lost ₹30-40 per kg as mills have reduced their selling prices in the beginning of this month. Mills are adjusting yarn

UK-based Worn Again Technologies has completed its latest funding round, raising £27.6 million to support the construction of an innovative textile recycling demonstration plant in Winterthur, Switzerland. The latest investment round brings the company’s total raised funding to £42.9 million, representing its most successful funding tranche since its founding.“We are extremely happy with the results of this funding round, which was our most successful so far. As such, it demonstrates the strengt

The International Monetary Fund (IMF) is downgrading its global economic growth forecast, its managing director Kristalina Georgieva recently announced in an address to students in Washington, DC’s Georgetown University campus. “Overall, we expect global output as a result of all this [multiple shocks] to shrink between now and 26, 2026 by $4 trillion,” she said.IMF estimates that one third of countries around the world would experience, at least, two consecutive quarters of contraction this yea

Economic growth in China is expected to moderate to 3.3 per cent this year, amid restrictions related to the COVID-19 pandemic and tepid consumer demand, according to a new report by the Asian Development Bank (ADB).China’s economy is forecast to grow 4.5 per cent in 2023, according to the recently released Asian Development Outlook (ADO) 2022 Update.The COVID-19 pandemic continues to weigh on consumer confidence in China. External trade is projected to moderate in the second half of 2022, as de