China’s coal prices are rising due to tight supply, tighter emission standards and strong demand from the industry, with electricity prices rising by more than 30%. This has further increased manufacturing costs and selling prices. According to new regulations of the Chinese government, almost all factories in the country currently operate only 2-3 days a week. This situation is expected to continue until December 2021.
A new wave of COVID-19 at major ports such as Ningbo and salt pans shut down operations, causing a coal shortage. Imports from Australia, a major coal exporter, are monitored at these ports.
India’s apparel and textile exports will continue due to a variety of global factors, including rising demand during the festival season, especially in the western region, sanctions on China’s new rivers by the United States, the United Kingdom and the EU, and reduced production capacity. Expected to increase in months. Export share of China and Vietnam due to power outage and COVID-19.
Textile and garment units in China’s Jiangsu, Zhejiang and Guangdong provinces are affected by power shortages. These regions account for more than 30 percent of the country’s total apparel and textile production. In addition, textile exports from Xinjiang Uygur Autonomous Region are affected by labor issues.
Exports of cotton and cotton products from India continue to increase due to the high international cotton prices compared to the prices of Indian cotton. The US ban on cotton in the Xinjiang Uygur Autonomous Region further supports the demand for cotton from India.
Expected reductions in the area of cotton harvested in China, India and Pakistan could put further pressure on cotton prices. In addition, transportation and logistics costs are rising consistently.
Production and exports from Vietnam are depleted due to Vietnam’s social distance measures and labor shortages in COVID-19. Many buyers are expected to shift to new suppliers due to delays.
The monthly average of Indian apparel exports was $ 1.14 billion in the fourth quarter of 2020, but increased by 9.30% to $ 1.25 billion in the first half of 2021. Fiber2Fashion market analysis tool TexPro.. It is expected to rise another 20.02% in the second half of 2021 to reach $ 1.5 billion.
India’s textile exports increased 29.42 percent from $ 0.99 billion in the fourth quarter of 2020 to $ 1.28 billion in the first half of 2021. It is expected to grow another 14.18 percent to $ 1.47 billion.
Fiber2Fashion News Desk (KD)
This is why India’s apparel exports will increase in the coming months
Source link This is why India’s apparel exports will increase in the coming months