INSIGHTS ICE cotton prices rebounded for the second consecutive day as market sentiment improved, attributed to better demand at lower prices and no significant geopolitical issues. The July contract settled at 82.42 cents, seeing further gains in today's session. Market dynamics were influenced by a weaker dollar and slightly lower crude oil prices. ICE cotton bottomed out and gained for the second day in a row yesterday. Better demand at lower price levels after a steep fall was expected. T

INSIGHTS From January-March 2024, China's exports of textiles, garments and accessories rose to $65.910 billion, a 2.00 per cent increase from previous year. This growth included a 1.4 per cent rise in garment exports and a 2.6 per cent increase in textile products. China's textile imports also grew by 12.3 per cent, reaching $2.698 billion during the same period.

INSIGHTS The US CPI-U rose 0.4 per cent in March 2024, matching February's increase. Apparel prices climbed 0.7 per cent over the month and 0.4 per cent year-on-year. Excluding food and energy, the all items index rose 0.4 per cent. The all items index increased 3.5 per cent over 12 months, with the energy index up 2.1 per cent, marking its first annual increase. US’ consumer price index for all urban consumers (CPI-U) rose by 0.4 per cent in March 2024 on a seasonally adjusted basis, a

INSIGHTS About 5.45 billion tonnes of road cargo was transported in China in January and February this year—up by 7.8 per cent YoY. The country's waterways transported some 1.4 billion tonnes of cargo—an increase of 10.2 per cent YoY. The Zhejiang province saw the sharpest YoY rise in road cargo, while the Shaanxi province topped in terms of YoY waterway cargo growth. The road and waterway freight volume in China saw steady growth in January and February this year, according to da

INSIGHTS ICAC forecasts growth in global cotton sector for 2024-25, with anticipated increases in production, consumption and trade. Weather is a critical factor influencing production trends. The cotton-producing area is expected to rise by 3 per cent, production by over 2.5 per cent, and consumption by 2.9 per cent, with trade projected to grow nearly 4 per cent. The International Cotton Advisory Committee (ICAC) has projected increases in the cotton-producing area, production, consumption,

INSIGHTS In 2023, the European Union recorded a €38 billion (approximately $40.9 billion) trade surplus, a stark shift from 2022's €436 billion deficit, as per Eurostat. This turnaround was due to a 16 per cent decline in non-EU imports, notably in energy products (34 per cent) and manufactured goods (21 per cent), driven by lower prices and volumes. The European Union (EU) recorded a trade surplus of €38 billion (approximately $40.9 billion) in 2023, according to the latest da

INSIGHTS Asia's economy is projected to grow by 4.5 per cent in 2024, with a significant contribution to global GDP at 49 per cent. Trade and investment recovery, alongside digital trade growth and key trade agreements, are expected to bolster the economy, despite challenges in employment and income growth. Inflation pressures are forecast to ease. Asia’s economy is estimated to grow about 4.5 per cent in 2024, according to the latest Asian Economic Outlook and Integration Progress repo

INSIGHTS In January, Germany's import prices fell by 5.9 per cent YoY, with energy prices dropping 27.7 per cent. Excluding energy, imports were down 2.5 per cent. Consumer goods rose by 0.3 per cent YoY. Export prices decreased by 1.3 per cent, despite a slight monthly increase. Energy exports dropped 22.9 per cent YoY, but consumer goods exports rose 0.6 per cent. In January 2024, Germany reported a notable decrease in import prices, marking a 5.9 per cent reduction compared to January 2023

INSIGHTS China targets a 5 per cent economic growth for 2024, planning to create over 12 million urban jobs and keep urban unemployment around 5.5 per cent. The strategy includes adhering to proactive fiscal and prudent monetary policies, with a deficit-to-GDP ratio set at 3 per cent, increasing the government deficit by 180 billion yuan ($25 billion) from 2023. China has set an economic growth target of approximately 5 per cent for 2024, according to a government work report that was recentl

INSIGHTS Global merchandise trade may modestly grow in early 2024 after underperforming in 2023, as per WTO Goods Trade Barometer. With a current index of 100.6, a slight recovery is expected, though geopolitical tensions pose risks. Q3 2023 saw a 0.4 per cent quarterly and 2.5 per cent yearly trade decrease, contrasting with slight increases in export orders. After a year marked by underperformance, early indicators suggest global merchandise trade might see modest growth in the opening mont