In 2006/07, world cotton consumption recorded its largest sustained growth rate in nearly 50 years. Between 2001/02 and 2006/07, world cotton consumption grew at an average compounded rate of 5.5 percent a year. Consumption had reached similar peaks in 1987/88 (5.3 percent) and 1967/68 (5.0 percent), but 2006/07 established a new record high. Since 2006/07, prospects for global income gains have slowed and world cotton consumption in 2008/09 is expected to fall about 1 percent from the year before, to 123 million bales.
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Uzbekistan cotton fibre is considered to be one of the best quality, and this is quite evident from the fact that the country has come up as the second largest exporter of cotton to the world market.
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The global economic turmoil has started taking its toll on exports from a lot of countries. Companies are going through a depressive phase due to a slump in orders and growth rates achieved in preceding years are a thing of the past.
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Twenty-eight representatives from leading garment brands came to Cambodia last week for a two-day meeting of the International Buyers’ Forum organized by the International Labour Organization (ILO) and the International Finance Corporation (IFC). The representatives stated they are recommending that their companies continue sourcing from Cambodia.
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Australian Wool Innovation released its strategic plan for the next three years, vowing to increase demand for Australian Merino, cut the cost of production and find alternatives to mulesing within two years.
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Brushing aside the notion that the current global financial crisis has brought an opportunity for the country to avail of, President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Fazlul Hoq said Bangladesh cannot avoid the shock of the turmoil if it prolongs.
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European Bangladesh Federation of Commerce and Industry (EBF), a newly-formed business association, was launched at the Chamber of Commerce and Industry of Brussels on Wednesday.
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Bangladesh should now focus on fashion and design to grab a greater share of the pie, the global apparel market.
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Bangladeshi Company would set up a Home Textile (weaving, dyeing) and related products manufacturing industry in Ishwardi Export Processing Zone with an investiment of US$ 23.74 million.
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U.S. textile and apparel trade increased in July, but the cumulative total for the first seven months of 2008 continues to lag behind the comparable 2007 period. U.S. textile imports rose to 1.7 billion (raw-fiber equivalent) pounds, 12 percent above June but 5 percent below July 2007.
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At its petrochemicals complex in Feluy, Belgium, Total inaugurated a demonstration plant intended to produce olefins and polyolefins from methanol.
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The textile and particularly the garment industry is booming in the state of Karnataka. It is home to the biggest garment manufacturers in India. The state also has a major share in the basket of textile and garment exports from the country. Now in order to provide a further boost and a thrust to the industry, the Karnataka government has come out with a new textile policy.
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Indonesia has a very promising textiles and garment industry. Though the growth rate is a little bit less compared to double digit growth rates achieved by its Asian counterparts like Vietnam, Bangladesh and India, it is slowly inching up its exports bit by bit.
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Bangladesh apparel-industry leaders yesterday unveiled an ambitious export target of US $ 25 billion and additional 2 million jobs in next five years, keeping well in mind the impacts of possible long-term recession following the recent global financial crisis.
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