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The Russia – Ukraine war to weigh on local textile sector

2022/4/12

The Russian – Ukraine war just in the time of the recovery of the global economy and supply chain from the severe fallouts of the Covid-19 has started affecting the country’s textile sector.

Current price of cotton in international markets

For instance, in the international markets, the cotton is sold between $1.35 per pound and $1.36 per pound on 4 April, which was between $1.20 per pound and $1.21 per pound in the international markets.

Even before the Russian-Ukraine war, the price of the key textile raw material had surged in the international market for pent-up demand following the reopening of economies after the pandemic-led lockdowns.

Because of the drought in some cotton-growing regions in the US, petroleum price hikes in the global markets, and the high volume of cotton purchased by China pushed up the price of the white fibre by 9.09% in the past month.

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