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Saturday, February 24, 2024

Middle East conflict will have limited impact in the short term

Speaking at the ongoing Taipei Innovative Textile Application Show in Taiwan, several exhibitors said the war crimes in Palestine by Israel will have a limited impact on demand in the short term. But they expressed that there could be an impact on crude oil and in turn prices of manmade fibers, which might affect consumer sentiment if prices of clothing increased.

A manmade fiber manufacturer said the conflict would have little impact on the textile and garment sector as the demand from the region is quite low as the population is small. Another fiber producer added that the developments in the Middle East would have a limited impact in the short term, but if crude oil prices fluctuated then it would impact the prices of fibers also.

“An apparel manufacturer said orders for 2024 would fully depend on the situation in the Middle East and demand from consumers,” media reports stated. One more fabrics and clothing producer stated that if prices of manmade fibers increased, it would delay the recovery of the global garment market, which has been shrinking since the start of this year.

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