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Nigeria is aiming at accelerating a sustainable increase in the production and processing of cotton.The cotton sector aims at increasing production by 20 per cent in 2018 as farmers are encouraged by better returns due to increasing cotton prices and improved yields.
At one time Nigeria’s textile industry created over 8,00,000 jobs, representing 25 per cent of the total number of jobs in the manufacturing sector.
There were 175 textile mills in the country during its golden era (i.e. 1985 - 1991) out of which today all but 27 of them have gone under.
Key challenges affecting the sector are lack of cotton lint, smuggling and counterfeiting, inadequate infrastructure, limited access to power and funding.
Funds needed by manufacturers to recapitalise have been hampered by the high interest rates charged on loans by financial institutions. The 30 per cent interest rate charged in Nigeria by commercial banks would appear as exorbitant when compared, for example, with the six per cent charged in China on loans given to textile manufacturers.
Globally power supply accounts for about 15 per cent of the production cost in the textile industry. In Nigeria it is almost 45 per cent.
Production of cotton lint which accounts for 40 per cent of the raw materials required in the textile industry has remained a critical challenge.
According to the Taiwan Institute of Economic Research (TIER), Taiwan’s composite index for the manufacturing sector increased by 1.25 from a month earlier to 11.70 to enter the yellow-blue light category, which ranges from 10.5 to 13 points.
The textile industry too was boosted by rising demand for functional textile products and improved from a blue light to a yellow-blue light in April.
TIER uses a five-color light system to describe economic activity, with red indicating overheating, yellow-red showing fast growth, green representing stable growth, yellow-blue signaling sluggish growth and blue reflecting a contraction.
According to TIER, three of the five factors that make up the composite index for the manufacturing sector moved higher in April. The sub-indexes for the general business climate, pricing and demand all rose from a month earlier in April. The growth in the three factors echoed Taiwan's strong export performance in April, when the country's outbound sales rose 10 percent from a year earlier to US$26.73 billion.
Janak Mehta is chairman of Asia Dyestuff Industry Federation (ADIF). ADIF, based in China, is an apex body and a conglomerate of dyestuff and pigment manufacturers of Asia. It was conceived to represent and promote the interests of the dyestuffs and colorant industry in this part of the world.
The basic function of the federation is to promote communication and exchange information among members, create opportunities and conditions for bilateral and multilateral co-operation for holding seminars, exhibitions etc for the development of the Asian colorant industry.
There has been a shift in the power-centre of the colorant manufacturing and consumer segments toward Asia.
Six Asian countries’ dyestuff associations have jointly established the Asia Dyestuff Industry Federation having its head office in China and regional office in India. The federation consists of industries and commercial associations of Pakistan, India, China, Korea, Taiwan and Hong Kong.
The formation of the federation will be helpful for importers and industries in the Asian region.
In his maiden address, Mehta, the newly appointed chairman, expressed optimism that with the support and co-operation of all stakeholders, ADIF would be able to perform its activities for the benefit of all concerned to usher in better days for the Asian dyestuff industry.
India’s woven fabric exports rose 17 per cent in April. During April, 134 countries imported woven fabrics from India, topped by Bangladesh and followed by UAE and Sri Lanka. The three together accounted for 30 per cent of total woven fabric shipped during the month.
Cote D’Ivoire, Croatia, Ethiopia, Nepal and Philippines were the fastest growing markets for woven fabrics, and accounted for close to two per cent of total export value in April.
Cotton fabrics were 51 per cent of woven fabric exports in April. Plain fabric exports accounted for 64 per cent of all types of woven fabrics exports in April 2018, up 14 per cent in volume year on year. Bangladesh, UAE and Senegal were the top markets for plain fabrics.
Denim fabric was the second largest woven fabric exported in April, with volumes increasing 18 per cent year on year and value up 9.5 per cent. Denim fabric was mainly imported by Bangladesh, followed by Egypt and Colombia. Denim exports to Bangladesh declined 44 per cent in value as against a year ago.
Shirting/suiting volumes surged 33 per cent while lungi and dhoti exports fell four per cent after a recovery in the previous two months.
Furnishing fabric exports doubled in April with the UK on the top followed by the US and UAE.
Morocco’s price index of industrial production decreased by 0.2 per cent in April 2018.
The decline in prices extended to the the clothing industry by 0.5 per cent, food industry by 0.3 per cent, pulp and paper industries by 0.8 per cent, metallurgy by 1.2 per cent, and non-metallic mineral products by 0.6 per cent.
Some industries saw a price increase in April: textile manufacturing by 0.7 per cent, leather and shoe products by 0.2 per cent, and cork and wood products by 1.2 per cent.
In March, prices of metallurgy increased by 0.7 per cent, pulp and paper industries by one per cent, and clothing and textile prices by 0.4 per cent. Wood and cork production prices each rose by 0.4 per cent in March.
There was an increase in the prices of fuel, meat, fruit, and vegetables in April, as the consumer price index climbed 0.3 per cent, after rising by just 0.1 per cent in March.
Morocco ranks seventh in the world’s list of fashion exporters. The country has high ambitions to foster this industrial sector in terms of quality, sustainability, technology and logistics.
The Indian economy grew 7.7 per cent year-on-year in January-March.The figure surpassed China’s growth rate of 6.8 per cent in the January-March quarter, confirming India as the fastest growing major economy.
India also reported 4.7 per cent growth in annual infrastructure output in April, signaling a recovery after it slipped to a three-year low of 4.2 per cent in 2017-18. Construction activity jumped to 11.5 per cent during January-March after a 3.9 per cent drop in the year-ago period.
The faster pace of growth in the latest quarter might also strengthen expectations of an interest rate increase.
India’s recovery could be threatened by higher global crude oil prices. India meets 80 per cent of its oil needs from imports. Higher oil prices have already pressured the rupee.
Alongside, rising global trade tensions due to the imposition of import tariffs by the United States could moderate global trade growth, tempering Indian exports.
However, growth is likely to get a boost from monsoon rains, potentially brightening the outlook for agricultural output. Monsoons deliver about 70 per cent of India’s annual rainfall and are the lifeblood of its economy, spurring farm output and boosting rural spending.
Economic growth could reach 7.4 per cent in 2018-19.
Angora rabbit fur is being used for sweaters, hats, gloves, and more.
Angora rabbits have long, soft fur. Most angora comes from rabbits on Chinese factory farms. The rabbits writhe in agony as workers tie them down and rip out their fur.
Brands like Calvin Klein, H&M, Marks & Spencer, Tommy Hilfiger, and Topshop have dropped angora wool from their clothing lines. So far more than 300 major retailers have banned angora.
Since then Chinese exports of angora have dropped steadily and are down 85 per cent.
Then there is mohair. Most of the world’s mohair comes from farms in South Africa. Shearers throw angora goats, cut off swaths of their skin, and cut conscious animals’ throats. Workers pick up goats by the tails, likely breaking them. One farmer dumped rams into tanks of cleaning solution and shoved their heads into the liquid, which would poison them if they swallowed it.
Workers punch holes in goats’ ears with pliers, causing the animals to scream. The goats bleat and roll around when they’re castrated without painkillers.
Like in the case of angora, the largest clothing companies in the world— Zara, Topshop, Gap, Banana Republic, Uniqlo, Esprit, Mango, Old Navy, Athleta, and H&M—have banned mohair.
German-based Bayer plans to take over US seeds group Monsanto. The deal would create the world’s largest integrated pesticides and seeds company but would limit the number of competitors selling herbicides and seeds in Europe.
Bayer’s move to combine its crop chemicals business with Monsanto’s industry-leading seeds business is the latest in a series of major agrochemicals tie-ups.
If Bayer does not close the deal by June 14, Monsanto could withdraw from the takeover agreement and seek a higher price.
It has already secured the go-ahead from key jurisdictions, including the European Union, Brazil and Russia. Apart from the United States, it still needs clearance in Canada and Mexico.
Bayer said synergies from folding Monsanto into its organisation would be about 300 million dollars below its previous target because it will have to sell more businesses than initially expected.
Bayer has a plan to create combined offerings of seeds and pesticides with the help of new digital farming tools, which include sensors, software and precision machines.
There are concerns the proposed acquisition could reduce competition in a number of different markets resulting in higher prices, lower quality, less choice and less innovation.
A merger would also reduce competition in the market for the genetic traits behind herbicide tolerance, which are typically licensed out to third-party seed companies.
Asia's major manufacturing hubs are facing a rocky ride from rising global trade tensions.
The biggest risk for China's manufacturing sector stems from a potentially crippling trade war with the United States. Forthcoming trade tensions could put pressure on trade and related supply chain activities. Investment decisions in potentially affected industries have been delayed.
New export orders for Chinese factories have fallen for a second straight month.
A full-blown Sino-US trade war will ripple through global supply chains, hurting economies from Europe to Mexico through to Australia and Japan.
Any stress on Japanese exports will put more pressure on the economy which contracted at the start of the year. Japan’s domestic business growth is slowing and only a modest pickup is seen in export orders.
Activity in South Korea, another major export hub, contracted for a third straight month as new orders continued to decline, prompting companies to cut staff at the fastest pace in almost a decade.
Taiwan’s factory growth slowed in May to a 22-month low for new orders.
India’s manufacturing sector grew at a softer pace in May, while rising inflationary pressures added to expectations that an interest rate hike is around the corner.
The Authentic Brands Group (ABG) has acquired the lifestyle brand Nautica from VF Corporation, which still includes The North Face or Timberland and Vans.
Nautica is now the group's largest brand, including Spyder. ABG's portfolio increases globally to almost 7 billion dollars in annual sales.
This acquisition brings it closer to its goal of achieving a retail sales split of 50 percent international and 50 percent domestic and reaching 10 billion dollars in annual retail sales by 2020.
Nautica's wholesale business, over 70 US retail stores, e-commerce and product development will be transferred to the operating company of Aeropostale, which is also part of the ABG Group.
It now works for both the clothing brand and Nautica. Aeropostale and Nautica together generate annual sales of approximately 2.4 billion dollars worldwide.
