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

IntroductionThe efficient use of natural resources and the utilization of recoverable wastes are getting more and more important day by day since recovering wastes have both economic and environmental benefits. As the source material costs constitute the majority of the yarn production costs, decreasing raw material costs provide considerable advantages for spinners. Figure: Recycling of textile wastes from different sources. Textile wastes can be divided into two main groups: production waste

In the rapidly evolving landscape of retail, the e-commerce market has emerged as a dominant force, transforming the way consumers shop for goods, including textiles. As online shopping continues to gain momentum, the textile industry is faced with the challenge of adapting its supply chain solutions to meet the unique demands of the digital marketplace. Figure: Stitching the future: how textiles supply chains are evolving in the e-commerce age. The traditional textile supply chain, characteri

INSIGHTS Richemont's Q3 FY24 sales rose 8 per cent at constant rates to €5.6 billion, with strong growth in Asia Pacific and Japan. Europe's sales fell by 3 per cent, while the sales in Middle East and Africa increased by 10 per cent. Retail sales were up 11 per cent, but online sales dropped by 5 per cent. Nine-month sales grew 11 per cent at constant rates. Richemont, a leading Switzerland-based luxury goods conglomerate, has reported an 8 per cent increase in sales at constant exchange r