Textile Briefs International

1.  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.

2.  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.

3.  ZDHC has launched its first project in Africa aimed at strengthening capacity in Ethiopia’s textile and apparel industry.

4.  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.

5.  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.

6.  Indonesia’s industry 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 ministry.

7.  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.

8.  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.

9.  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.

10.  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 Programme.

11.  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.


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