INSIGHTSThe 2023-24 forecast indicates a downturn in the global cotton industry with production dropping to 112.4 million bales due to reductions in key regions.Consumption is reduced to 115.9 million bales, affected by decreased supplies in major markets including India and China.Furthermore, US exports are anticipated to hit an 8-year low at 12.3 million bales.The global cotton industry is facing significant reductions in both production and consumption according to the 2023-24 outlook of the

INSIGHTSGlobal cotton benchmark values have fluctuated over the past month, generally remaining close to the figures seen a month ago.The NY/ICE December contract tested high values but recently regressed to levels near those seen a month ago.The A Index exceeded $1 but settled at 96 cents/lb.Cotton prices in China, India, and Pakistan experienced variations.Global cotton benchmarks moved higher and then lower over the past month. Current values for most prices are near those posted one month ag

INSIGHTSThe total profits of industrial enterprises in China above the designated size reached 3,943.98 billion yuan between January and July this year—down by 15.5 per cent year on year (YoY).The profit of the manufacturing industry was 2,769.42 billion yuan during the period—down by 18.4 per cent YoY.The textile industry's profit fell by 20.3 per cent YoY in the period.The total profits of industrial enterprises in China above the designated size reached 3,943.98 billion yuan between Janua

INSIGHTSThe upcoming ITMF Annual Conference 2023 in China will host over 500 industry representatives from across the textile value chain.Under the theme 'Digitalisation & Circularity – Megatrends Shaping the Textile Industry', the conference aims to explore the evolving textile landscape.The event is co-hosted by CNTAC and the Shaoxing Municipal People's Government.The International Textile Manufacturers Federation (ITMF) Annual Conference 2023 is set to host international indus

INSIGHTSThe international trade in goods and services in China in July this year exceeded 3.77 trillion yuan, or $526.5 billion, according to official data released recently.Exports of goods were worth nearly 1.83 trillion yuan and imports crossed 1.44 trillion yuan, resulting in a surplus of 385.5 billion yuan, the state administration of foreign exchange said.The international trade in goods and services in China in July this year exceeded 3.77 trillion yuan, or $526.5 billion, according to of

INSIGHTSCotton harvest in Brazil has advanced, but prices remain firm in the first half of August.The stability in price is supported by international valuations and the dollar's appreciation against the Real.Many sellers were absent from the Brazilian spot market.Between July 31 and August 15, the cotton price in Brazil rose by 4.11 per cent.Despite the progress of both the harvest and processing of the new crop in Brazil, cotton prices remained firm in the first fortnight of August. This w

INSIGHTSChina's foreign trade expanded by 0.4 per cent year on year (YoY) to 23.55 trillion yuan in the first seven months this year. It totaled 3.46 trillion yuan in July, and domestic experts feel it is expected to maintain steady growth despite a challenging external environment.The country's general trade rose by 2.1 per cent to 15.41 trillion yuan during the period.China's foreign trade expanded by 0.4 per cent year on year (YoY) to 23.55 trillion yuan ($3.29 trillion) in the fi

INSIGHTSMethane emitted from animals accounts for most of the climate change impact from virgin animal-based fibre production, according to a report by the Fashion Industry Charter for Climate Action.For raw silk, producing the leaves to feed the silkworms was the highest contributor of climate impacts, compared to the subsequent sericulture and reeling processes.Methane emitted from animals (enteric fermentation and manure) accounts for most of the climate change impact from virgin animal-based

INSIGHTSHigh inflation and elevated interest rates continue to put pressure on the stock prices of ports and terminals companies, UK-based Drewry Financial Research Services has said.Supply chain congestion has normalised, bringing the container dwell times down to pre-pandemic levels, lowering the storage-led income and thus contracting overall revenue, it noted.High inflation and elevated interest rates continue to put pressure on the stock prices of ports and terminals companies, according to

INSIGHTSThe US international trade deficit was $87.8 billion in June 2023, down $4.0 billion from May; exports increased by $0.4 billion, and imports decreased by $3.6 billion.Retail inventories for June were $783.9 billion, up 0.7 per cent from May and 5.4 per cent from June 2022.Wholesale inventories were $908.0 billion, up 1.7 per cent from June 2022.The US’ international trade deficit was $87.8 billion in June 2023, down $4.0 billion from $91.9 billion in May. Exports of goods for June were