Prices were severely dented with Merino types and descriptions
depreciating well over 100ac, as wool auctions re-commenced this
week in Australia after a three-week recess. Prices of
crossbreds too dropped 50ac during sales week 6 of the current
wool marketing season.
The Export Promotion
Bureau (EPB) of Bangladesh has set a US$ 37.44 billion export
target for fiscal year (FY) 2020-21, 13% higher than the
expected export receipts to reach US$ 33 billion by the end of
the current fiscal year, 2019-20.
ZDHC has launched its
first project in Africa aimed at strengthening capacity in
Ethiopia’s textile and apparel industry.
According to official
data, China's industrial textile industry has witnessed a
significant increase in production, sales, profits and exports
during the first five months of the year, due to soaring demand
caused by the COVID-19 epidemic.
The Chinese Ministry of
Industry and Information Technology released data showing that
the main textile firms in China reported a decline of 16.4
percent in revenue since a year earlier to set at a total of
USD39.91 billion in the period from January to June.
ministry pushed back the deadline to achieve its import
reduction target by a year, as the COVID-19 pandemic has
battered the productivity and demand of industries, according to
After many years of
engagement and preparation, the Better Cotton Initiative (BCI),
a global not-for-profit organisation, together with the United
Nations Industrial Development Organisation (UNIDO), has
announced the launch of a BCI Programme in Egypt.
The European Union
plans a €90 million grant for one million Bangladeshi readymade
garments workers for the next three months who have either been
laid off or will lose their job permanently due to the Coronavirus pandemic.
The Indian textile
ministry recently opposed the final findings of the Directorate
General of Trade Remedies (DGTR) recommending the imposition of
anti-dumping duty (ADD) on nylon multifilament yarn.
The Central Bank of
Nigeria (CBN) will fund 1.6 million farmers in the 2020 wet
season to help raise farm output. The apex bank will also
finance the farmers under its 10 Focal Commodities Intervention
The Sri Lankan
government is being urged to modernise the country's garment and
the textiles industry following the economic damage caused by
the coronavirus pandemic. The recommendation is contained in a
report, 'COVID-19 & Beyond - The impact on the Labour Market of
Sri Lanka', which also calls for the establishment of a
comprehensive social security system.