Textile Market News

Turkey is poised to become a major cotton exporter, with shipments doubling in two years. This rise comes despite a decline in domestic cotton use, attributed to the February earthquake, inflation, and lower global apparel demand.

Cotton candy prices fell by 0.42 per cent, settling at Rs 62,220. This decline is linked to recent upward revisions in cotton production estimates by Indian organizations like Cotton Association of India (CAI) and Cotton Corporation of India (CCI). CAI expects production to reach 309.70 lakh bales this season, while CCI has already procured 32.81 lakh bales.

A recent survey by the International Textile Manufacturers Federation (ITMF) reveals a mixed bag for the textile industry. While the overall situation remains challenging, there are signs of cautious optimism.

India's polyester fabric market is experiencing steady growth, driven by its affordability and versatility. While the overall demand is projected for a Compound Annual Growth Rate (CAGR) of 3.24 per cent until 2029, recent trends offer a mixed picture for Q1 FY24-25.

In a move to strengthen India's position in the global textile market, the Ministry of Textiles has announced a significant upgrade of the country's textile testing infrastructure. This initiative comes amid rising concerns about sub-standard textile exports, particularly involving pashmina shawls and silk products, which have reportedly tarnished India's image as a reliable supplier.

Pakistan's cotton yarn exports to China are off to a strong start in 2024, exceeding $100 million in the first two months. This marks a 98 per cent increase compared to the same period last year, driven by a promising cotton harvest.

India's cotton yarn industry is showing signs of revival, with domestic demand expected to grow by 12-14 per cent in volume terms during the current fiscal year (FY24). This positive outlook comes courtesy of a report by ICRA, a rating agency.

Cotton candy prices fell slightly 0.13 per cent to settle at Rs 62,000 per candy. This drop is linked to increased production estimates from Indian organizations like Cotton Association of India (CAI) and Cotton Corporation of India (CCI),

Overall, cotton fabric exports for the first two months of 2024 exhibited a positive trend. Compared to the same period in 2023, export volumes grew by 9.32 per cent to reach 938 million meters, with a total value rising 10.24 per cent to $1.51 billion.

Mexico's Ministry of Economy is reassessing the anti-dumping duty placed on polyester filament yarn (PFY) imports originating from India and China. This duty, affecting PFY categorized under tax number 5402.33.01, was initially implemented in September 2021

Recent reports indicate a significant decline in demand for US cotton, leading to the closure of numerous mills across the country. Factors leading up to this downturn include changing trade deals, particularly NAFTA, which have disrupted the industry.

China's polyester product exports saw a decline in January-February 2024 compared to the same period last year. The total volume reached 1.8 million tons, down 18,000 tons year-on-year.