World’s major cotton supplying countries have been affected by extreme weather. Analysts have expressed the fear of a major disruption in the supply of the main raw materials of the clothing and textile sector in the coming days.The largest cotton producing country India has been severely affected by heavy rains and pest attacks. The production shortfall is so acute that India is forced to meet supply demand through imports.Figure: World’s major cotton supplying countries have been affected by e

Canada-China owned enterprise Big Dipper Textile Mills Ltd is set to establish a textile industry in Ishwardi Export Processing Zone (IEPZ) in Bangladesh. An agreement to this effect has been signed between the Bangladesh Export Processing Zones Authority (BEPZA) and Big Dipper Textile Mills Ltd at BEPZA Complex, Dhaka.The executive chairman of BEPZA and member (investment promotion) Ali Reza Mazid and chairman of Big Dipper Textile Mills Ltd Wong Jammy Kwok Chan signed the agreement on behalf o

The euro hit the lowest level against the US dollar in two decades, trading at 0.99 yesterday. Earlier, the euro dropped to under parity with the greenback in July beginning and has dropped by close to 12.8 per cent versus the US dollar this year as economies were hit by peak inflation. The exchange rate has been sliding since May 2021, when it was at 1.22.The exchange rate was 1.12 when the year started and 1.02 in August beginning.Yearly inflation stood at 8.9 per cent in July in the euro area

China’s value-added industrial output went up by 3.8 per cent year on year (YoY) in July and 0.38 per cent over the June figure. The country's retail sales of consumer goods rose by 2.7 per cent YoY last month. Other major economic indicators including the index of services production and fixed-asset investment, also posted YoY growth, National Bureau of Statistics (NBS) data showed.The steady economic recovery led to a drop in urban unemployment rate from 5.5 per cent in June to 5.4 per cen

Cotton yarn witnessed higher prices in north India’s markets today as demand improved substantially. Virgin cotton yarn was sold in Delhi and Ludhiana with gain of ₹5-8 per kg. Traders feel that higher cotton prices are also supporting yarn prices. Recycled yarn market in Panipat also noted better buying. Recycled yarn of higher counts also saw price rise.Delhi market witnessed upward trend as demand improved in last couple of days. Traders now expect better buying in states like Uttar Pradesh,

Suifenheport in northeast China has witnessed a 72.4 per cent year-on-year increase in China-Europe freight train services in the first seven months of 2022. The port, which is situated on the China-Russia border, managed 462 China-Europe train trips during the period.Around 47,133 twenty-foot equivalent units (TEUs) of goods were transported via Suifenheport, which is a rise of 95.8 per cent year-on-year, as per Suifenhecustoms in Heilongjiang province.Suifenhecustoms has been taking steps to s

The exports of textile and apparel from the United States went up by 13.10 per cent year-on-year in the first six months of this year. The value of exports stood at $12.434 billion during January-June 2022 compared to $10.994 billion in the same period of 2021, according to data from the Office of Textiles and Apparel, US department of commerce.Category-wise, apparel exports increased by 24.97 per cent year-on-year to $3.489 billion, while textile mill products rose 6.07 per cent to $8.945 billi

Novara™ system achieves 46% energy saving and 52% water reduction for polycotton durable water repellent (DWR) fabric finishing, achieving high performance even after 20 washesAlchemie Technology, the UK innovator of waterless, low energy, textile dyeing technology, has achieved huge energy and water savings using their Novara™ textile finishing machine to apply water and stain repellent to 280gsm polycotton twill workwear fabric.Using Alchemie’s NovaraTM single sided digital finishing process t

The textile industry in China posted stable revenue growth in the first half (H1) this year, according to data from the ministry of industry and information technology, which recently said textile firms with an annual main business income of at least 20 million yuan ($3 million) raked in 2.52 trillion yuan in revenue in the first six months of 2022—up by 5.7 per cent year on year (YoY).The total added value of these companies rose by 0.9 per cent YoY during the period.The combined sales of main

Around four out of five consumers (80 per cent) in the US say that they are less confident about spending, while 62 per cent of them believe that the county is currently experiencing a recession. Rising food prices are the biggest recessionary concern for 68 per cent of consumers, with nearly half (48 per cent) also concerned about food shortages.The new First Insight Report titled ‘The State of Consumer Spending: Inflation Fuelling Recession Fears’ revealed some profound changes in consumer sen