The Indian Chamber of Commerce (ICC) has nominated Ajay Sardana as chairman of ICC National Expert Committee on Petroleum, Petrochemicals & Chemicals for 2026.

Ajay Sardana, president and head of corporate affairs at Nayara Energy has been nominated for the second year as chairman of ICC National Expert Committee on Petroleum, Petrochemicals & Chemicals for 2026.
With global experience, strong sustainability focus, and decades of industry expertise, he is expected to advance policy advocacy, innovation, and collaborative growth within the committee.

Sardana, president and head – corporate affairs at Nayara Energy, marks his fifth consecutive year as chairman/co-chairman of the Indian Chamber of Commerce (ICC) committee, “reflecting his consistent dedication to policy advocacy, sector development, and collaborative progress,” Nayara Energy said in a congratulatory message.

With an illustrious career spanning over three decades in the Industry, Sardana brings a wealth of experience and expertise to this role.

Throughout his career, Sardana has demonstrated a strong commitment to sustainability and innovation in the industry. His contributions have been recognised both nationally and globally, with prestigious awards such as the Most Influential Sustainability Leaders of India in 2018 and the PRIDE Award in Grasim.

“Humbled and honoured to be nominated for the 5th consecutive year as chairman/co-chairman of ICC’s National Expert Committees!,” Sardana said in a LinkedIn post. “I appreciate the confidence reposed in me and look forward to driving progress and excellence in our industry.”

Sardana’s international exposure includes tenures in Turkiye and Indonesia, providing him with a global perspective on the challenges and opportunities in the petrochemical sector. He holds a Master’s degree in Textiles from the Indian Institute of Technology, Delhi, and a Master’s in Business Administration from Singapore. He has also done one year leadership programme in Sustainability from WBCSD in collaboration with Yale University US.

Continuing in his role as chairman of the ICC National Expert Committee on Petrochemical Initiatives, Sardana will lead efforts to drive forward initiatives that promote sustainability, innovation, and collaboration within the Petrochemical industry.

Fibre2Fashion News Desk (RKS)

ICE cotton futures eased slightly but the movement was largely viewed as stable, supported by the USDA’s long-awaited weekly export sales report. The data reflected strong demand after a reporting gap caused by the US government shutdown, and the market is now attempting to stabilise amid continued uncertainty.

ICE March 2026 cotton futures settled at 63.74 cents per pound, down just 0.04 cent. Other contracts, including December 2025 and the March, May and July 2026 positions, also recorded losses. The December 2025 contract closed at 61.68 cents, down 62 points, after touching an intraday low of 61.24 cents. Price movements in other contracts varied between 5 points higher and 13 points lower.

ICE cotton futures remained largely stable, supported by a strong US weekly export sales report released after a shutdown-related delay.
March 2026 futures closed slightly lower at 63.74 cents, while December 2025 guided the curve with reduced trading volumes.
Net sales of 207,200 bales confirmed healthy demand.
Analysts expect prices to hold and possibly move toward 67 cents.

Market activity slowed, with volume dropping to 35,679 contracts, the lowest in four weeks, compared with 49,131 contracts in the previous session. The market is also approaching the first notice period for December, and this contract continues to influence the overall forward curve, according to traders.

ICE reported that deliverable No. 2 certified stocks were unchanged at 20,344 bales as of November 19.

The US weekly export sales report for the week ending October 2 (released November 21) confirmed strong demand. Net sales totalled 207,200 bales, comprising 199,000 bales of Upland cotton and 8,200 bales of Pima cotton. Shipments were reported at 165,000 bales, including 157,700 bales of Upland and 7,300 bales of Pima. Season-to-date (2025–26) commitments reached 4,537,100 bales, with 1,257,900 bales shipped so far.

Market analysts noted that this was the first weekly export sales report released in several weeks and the figures confirmed healthy demand. They added that cotton futures are likely to hold steady at current levels and could move toward the 67-cent range if strong demand persists.

The USDA had suspended the report during the 43-day US government shutdown, adding to market uncertainty in recent weeks.

Earlier in November, the USDA raised its cotton export estimate by 200,000 bales, increasing the total to 12.2 million bales in its WASDE update.

Other commodity markets were mixed, with CBOT soybean futures closing lower amid concerns over global demand.

Overall, government cotton updates continue to provide clarity but have not yet reversed the broader downward trend. Traders noted that bulls will need a clear and sustained demand boost—policy-driven or market-led—to trigger a meaningful price rebound.

This morning (Indian Standard Time), ICE cotton for December 2025 was trading at 61.94 cents per pound (up 0.26 cent), cash cotton at 61.74 cents (down 0.04 cent), March 2026 at 63.68 cents (down 0.06 cent), May 2026 at 64.93 cents (down 0.07 cent), July 2026 at 66.05 cents (down 0.06 cent), and October 2026 at 67.15 cents (up 0.04 cent). Some contracts remained unchanged, with no trades recorded so far today.

Fibre2Fashion News Desk (KUL)

According to *fashion.com/market-intelligence/texpro-textile-and-apparel/” target=”_blank”>sourcing intelligence tool TexPro, Europe supplied $***.*** million, accounting for **.** per cent of Hungary’s total apparel imports during January–August ****. This deep reliance on the region mirrors the broader shift across Central and Eastern Europe, where retailers and importers increasingly prioritise shorter lead times, predictable regulations and reduced logistical risks. With freight routes through Ukraine and the Black Sea still vulnerable, Hungary continues to favour established EU suppliers such as Germany, Italy, Poland, Slovenia, Romania and Slovakia.

Imports from the Asia-Pacific region reached $***.*** million, representing **.** per cent of Hungary’s trade. While China, Cambodia, Bangladesh and Vietnam have been expanding their presence, their combined share remains significantly lower compared to Western European markets, which typically source more heavily from Asia. The region’s modest gain from last year reflects competitive pricing and growing EU–ASEAN linkages, but Hungary’s geographic and logistical orientation keeps Europe firmly in the lead. Shipments from the Middle East totalled $**.*** million, making up *.** per cent of apparel imports.