Page 16 - TEXtalks. March- April 2023

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Vietnam textile and garment

firms aiming for green production

to suit EU partners

Vietnam is following the footsteps of its main rival Bangladesh in going green as textile and garment firms in
Vietnam are accelerating their efforts to switch to green products in order to comply with the
requirements of its EU partners.

The EU is a major market for Vietnam’s apparel and textiles accounting for over $ billion in annual exports.
Le Tien Truong, the Chairman of the Vietnam National Textile and Garment Group (Vinatex) has said from
now onwards till 2050 the EU will formulate new rules on textile and garment products, with a
focus on green ones.

The Hanoi Textile & Garment Joint Stock Corporation (Hanosimex) and the Hansae group of the Republic of
Korea will be the first in Vietnam’s textile and garment industry to make a historic turning point with the
formation of a complete supply chain, from yarn-making, weaving, and dying to sew, particularly for recycled
products according to the Vietnam Plus.

Cotton and its constant

fluctuating rates

Spot rates of cotton finally started moving up at Karachi increasing by Rs300 per 37.324 kg to close at Rs
19,300 per maund on Thursday (April 06). The cotton market though remained steady throughout the week
but trading volumes did improve.

The rate of cotton in Sindh ranged between Rs17000 to Rs20000 per 37.324 kg. In Punjab, the rates were
between Rs18000 to Rs20000 per 37.324 kg. The rate of Phutti in Sindh was Rs 5500 to Rs 8300 per 40 kg.
The rate of Phutti in Punjab was Rs6000 to Rs8500 per 40 kg.

1001 bales of Rahim Yar Khan were sold at Rs18500 to Rs19800 per 37.324 kg, 400 bales of Haroonabad
were sold at Rs19000 per 37.324 kg, 1200 bales of Dherki were sold at Rs20000 per 37,324 kg, and 100
bales of Multan were sold at Rs19350 per 37.324 kg. Polyester Fiber was available at Rs 373 per kg.
The final data released by Pakistan Cotton Ginners Association states that Pakistan country produced 34
percent less cotton this year as compared with the crop yield last season. The final figures for the crop year
2022-23 reveal that the country produced 4,912,069 bales, the lowest in around four decades, of cotton
against 7,441,833 in the 2021-22 season, a year-on-year decline of 2,528,764 bales or 34pc loss.

March/April 2023