Egyptian cotton exports increased during the third quarter of the agricultural season 2018-2019 to 510,200 metric quintals compared to 160,100 metric quintals during the corresponding period of the previous season, a rise of 218.8 percent owing to the increase of cotton production, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced.
Even though the trade dispute between the United States and China has moved away from escalation and towards reconciliation since the G20 meeting in June in Osaka, the consequences of this already year-long exchange of blows between two big players in the international cotton industry are clearly noticeable in the market. There are widespread insecurities in completing contracts in the international cotton trade. “Uncertainty is the new normal,” summed up Bremen Cotton Exchange in its Cotton Telegram of 16th July 2019.
Pakistan apparel industry is suffering with low productivity due to shortage of cotton yarn, high energy cost and heavy import duties on raw material. Chief Coordinator Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Ijaz A Khokhar on Friday talking to media appealed the government to abolish duties on yarn imports for encourage value addition, reduce cost of doing business and bridging gap between production and consumption.
The Indian technical textiles market has shown new trends due to the expansion of Indian market as the consumer spending is going through a fundamental shift. The increase in per capita income, strong demand for better lifestyle and high disposable income, have increased the per capita consumption in textiles and apparel market, benefiting the manufacturers, said Industry Affairs Committee of the PHD Chamber chairman Anil Khaitan.
