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ITMF/ICAC/ICA: collaborative action for cotton and textile sectors

The loss of demand resulting from the corona pandemic and the preventative measures that are being applied throughout the world affects the cotton and textile sectors from end to end. It is essential for each trading partner to be mindful of each other’s position.
The associations BCI (Better Cotton Initiative), CICCA (Committee for International Co-operation Between Cotton Associations), ICA (International Cotton Association), ICAC (International Cotton Advisory Committee) and ITMF (International Textile Manufacturers Federation) are unified in promoting a common set of values and shared commitment to safe trading and contract sanctity across the global cotton community. This joint challenge is to ensure that fair and equitable trade practices govern the commercial relationships throughout the cotton and textile supply chains.
The associations want to encourage that all those engaged in the cotton and textile value chains jointly and collaboratively commit to:
•    take actions that are considered and designed to contribute to the recovery of the cotton and textile sectors in 2021 and beyond,
•    communicate, collaborate and be responsive to the needs of their counterparties,
•    continue to respect the trade rules that govern the sectors,
•    recognize and publicize positive behaviors. Identify and call out negative, counter-productive commercial behaviors.
The strong sense of community in the cotton and textile world will continue to be a source of strength.

 

Source:
dfv media group
More information: ITMF ICAC cotton textile industry

ITMF: deep impact of the corona-pandemic on the global textile industry

East Asia was hit first by the corona-crisis, is also recovering first from it. Orders in East Asia dropped visibly less (-28%) than in all the other regions (-40% and more). Especially China and Korea were able to contain the epidemic successfully. In the last few weeks, most Chinese textile companies have ramped up production significantly. Likewise, off-line retail stores have reopened, and consumption is picking up again in East Asian countries.
Between April 16-28, 2020, the International Textile Manufacturers Federation (ITMF), Zurich/Switzerland, has conducted a 3rd survey among ITMF Members and affiliated companies and associations about the impact the Corona-pandemic on the global textile value chain, especially on current orders and expected turnover in 2020. In total 600 companies from around the world participated.
Companies in Europe are expecting turnover in 2020 to be down by 22%, a figure significantly better than the -33% reported in the 2nd survey. Companies in East Asia are expecting turnover to be down by 26%, which is close to what was reported in the 2nd survey (-24%). Companies’ turnover expectations in South East Asia and South Asia on the other hand have deteriorated significantly. These regions were hit later by the Corona-pandemic and hence the full impact was felt with a delay. Compared to 2019, expected turnover for 2020 is down by 38% in South East Asia and  by 31% in South Asia.
Turnover expectations in Africa, South America and North America have not changed much since the 2nd survey.
The most important challenges at the moment are securing enough liquidity, supply chain disruption and uncertainty.

 

Source:
dfv media group
More information: ITMF Statistical Data