Global news roundup
The following is a round-up of apparel and footwear news from the world's local media. just-style has not checked these stories so cannot guarantee their accuracy.
- Vietnam's garment and textile exports have increased 25-30% a year in recent years, to reach US$15.6m. More opportunities for the sector are expected because of free trade agreements between Vietnam and other countries, including Japan. In the first six months of this year, Vietnam shipped $882m worth of garments and textiles to Japan, a 23.8% increase compared to the same period last year, accounting for 13% of the industry's total export turnover. VIETNAM PLUS
- Grasim Industries, a flagship unit of India's Aditya Birla Group, is planning to set up a US$500m production plant in Turkey. The facility is expected to produce 180,000 tonnes of viscose staple fibre (VSF) per annum. The raw material is used to make apparel and home textiles. The five-year project will also include a power plant and sulphuric acid facility, split into two phases. THE HINDU
- Bangladesh's exports grew 5.9% during the financial year ending June to US$24.3bn, falling short of the government's target. This is because of reduced demand for garments from Western markets, including Europe and the US. The total fell nearly 8.4% short of the $26.5bn target, according to the country's Export Promotion Bureau. For the next fiscal year, the government expects exports to reach $28m. REUTERS
- As cotton prices continue to increase, India's cotton output is forecast to fall short of estimates next season because of weak monsoons in the Maharastra, Gujarat and Andhra Pradesh cotton belts. Cotton for the coming season may be delayed by at least a month, according to the Cotton Advisory Board. Cotton prices soared to INR38,200 (US$687.4) a candy (355.54g) for Shankar-6 variety, which is one of the most used in the garment sector, up INR6,000 a candy. THE HINDU
An interactive databank with intelligence on the major apparel sourcing countries
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