Fashion
EU Parliament greenlights CBAM update, SMEs get relief
The updated CBAM introduces a new de minimis mass threshold, exempting imports of up to 50 tonnes per importer per year from CBAM requirements. This replaces the earlier rule exempting only goods of negligible value. According to the EU, this change will relieve 90 per cent of importers—primarily SMEs and individuals—of reporting and compliance obligations while still covering 99 per cent of total CO2 emissions from CBAM goods such as iron, steel, aluminium, cement, and fertilisers, the Parliament said in a press statement.
European Parliament has approved CBAM reforms under the ‘Omnibus I’ package, easing compliance for SMEs by exempting imports up to 50 tonnes per importer annually.
The changes simplify authorisation, emissions calculation, and verification rules while retaining 99 per cent emissions coverage for some products.
The text now awaits Council endorsement.
For goods still covered by CBAM, the law simplifies key processes including authorisation of CBAM declarants, calculation and verification of embedded emissions, and financial liability requirements. The legislation also introduces safeguards and anti-abuse provisions to ensure that emissions coverage remains intact and that the threshold cannot be misused to avoid compliance.
The legislation must now be formally endorsed by the Council of the EU. It will enter into force three days after its publication in the EU Official Journal.
CBAM is the EU’s flagship tool to ensure a level playing field between EU-made products—which are subject to the EU Emissions Trading System (ETS)—and imports from non-EU countries. It is designed to encourage foreign producers to adopt more climate-friendly production methods. In early 2026, the European Commission is set to review whether the CBAM’s scope should be expanded to cover additional ETS sectors and consider measures to assist EU exporters of CBAM-covered goods facing carbon leakage risks.
Fibre2Fashion News Desk (KD)
Net sales of Upland cotton for the 2025–26 marketing year declined to 123,300 RB (running bales each weighing 226.8 kg), down 24 per cent from the previous week and 35 per cent below the prior four-week average. The slowdown followed the previous week’s strong rebound, when sales had climbed to 162,900 RB.
US cotton export sales weakened in the week ended April 30, with both Upland and Pima cotton posting lower demand and shipments, according to USDA.
Upland sales fell 24 per cent week on week to 123,300 RB, while Pima sales declined 47 per cent to 11,500 RB. Asian markets, led by Pakistan, India, Vietnam, and Bangladesh, continued to dominate US cotton buying activity.
Pakistan emerged as the largest buyer during the latest reporting week with purchases of 38,800 RB, followed by India (27,200 RB), Vietnam (18,800 RB), Indonesia (14,400 RB), and Bangladesh (9,100 RB). Reduced demand from South Korea partly offset the gains. The data also showed active switching activity between Asian buyers, including volumes redirected from Vietnam and South Korea.
New crop Upland sales for the 2026–27 marketing year totalled 48,400 RB, led by Guatemala (35,200 RB) and Indonesia (19,000 RB), while reductions for Vietnam limited overall growth. This was lower than the previous week’s 105,700 RB, which had been driven by strong buying from Turkiye, China, and Guatemala.
Export shipments of Upland cotton also softened. Weekly exports fell to 327,500 RB, down 15 per cent from the previous week and 1 per cent below the prior four-week average. Vietnam remained the top destination with 135,000 RB, followed by Bangladesh (29,600 RB), Pakistan (29,100 RB), Turkiye (27,700 RB), and China (20,400 RB).
Pima cotton exports also lost momentum during the week. Net sales for the 2025–26 marketing year declined to 11,500 RB, down 47 per cent from the previous week and 35 per cent below the four-week average. India continued to dominate buying activity with purchases of 6,700 RB, followed by Egypt (1,800 RB), Italy (800 RB), Thailand (600 RB), and Pakistan (600 RB). New crop Pima sales for 2026–27 were limited to 1,300 RB, all destined for Egypt, compared to 11,500 RB in the previous week.
Pima export shipments totalled 14,800 RB, down 17 per cent week on week, although still 52 per cent above the four-week average. Vietnam remained the leading destination with 8,400 RB, followed by India (2,700 RB), China (2,200 RB), Bangladesh (500 RB), and Colombia (400 RB).
Overall, the latest USDA data indicate that US cotton export demand moderated after the previous week’s recovery, with Asian markets continuing to dominate buying activity. Vietnam, Pakistan, India, Bangladesh, and Turkiye remained the key drivers of Upland exports, while India retained its position as the leading buyer of US Pima cotton.
Fibre2Fashion News Desk (KUL)
Canada’s total apparel imports stood at $*.** billion in January-February ****, down from $*.** billion in the same period last year, indicating slightly softer demand. China’s exports declined sharply to $***.** million, reducing its share to **.** per cent from **.** per cent a year ago, a significant drop in a short span, according to *fashion.com/market-intelligence/texpro-textile-and-apparel/” target=”_blank”>sourcing intelligence tool TexPro.
In contrast, other Asian suppliers strengthened their positions. Bangladesh emerged as a key gainer, with shipments rising to $***.** million and its share increasing to **.** per cent. Vietnam also expanded its footprint, accounting for $***.** million and a **.** per cent share. Cambodia continued its upward trajectory, reaching $***.** million and **.** per cent share. India recorded a marginal increase to $**.** million, with its share improving to *.** per cent.
The company posted net sales of $130 million for the quarter ended March 29, 2026, down 11.3 per cent year on year (YoY) from $146.6 million. However, sales increased 7.1 per cent sequentially from the previous quarter.
US-based Unifi Inc has reported improved Q3 FY26 profitability despite an 11.3 per cent YoY decline in net sales to $130 million.
The gross profit rose to $9.1 million from a loss a year earlier, while net loss narrowed sharply to $2.3 million.
Adjusted EBIT turned positive at $4 million, supported by cost reductions, operational optimisation and stronger Repreve product sales.
Eddie Ingle, CEO at Unifi said the company’s operational and cost restructuring measures were beginning to translate into improved financial performance. “We are pleased to report that the impact of our team’s hard work is beginning to translate into improved financial performance, highlighted by improved gross profit and debt reduction,” added Ingle.
Gross margin returns to positive territory
The gross profit improved significantly to $9.1 million compared to a gross loss of $0.4 million in Q3 FY25. Gross margin rose to 7 per cent from negative 0.3 per cent a year earlier, supported by multi-year cost reduction efforts and operational optimisation, Unifi said in a press release.
Net loss narrowed sharply to $2.3 million, or $0.12 per diluted share, from $16.8 million, or $0.92 per diluted share, in the corresponding quarter last year. Adjusted net loss improved to $3.8 million from $13.9 million in Q3 FY25, while adjusted EBITDA turned positive at $4 million against a negative $4.9 million a year ago.
Revenue from Repreve fibre products reached $38.2 million during the quarter and accounted for 29 per cent of total net sales, up from $34.3 million and 28 per cent share in the second quarter of FY26.
Unifi also generated $8 million in cash from operating activities during the quarter and $24.4 million during the first nine months of FY26. Debt principal stood at $94.9 million, while net debt was reduced to $68.4 million as of March 29, 2026.
Selling, general and administrative (SG&A) expenses declined 9 per cent YoY to $11.2 million, driven by continued cost-saving initiatives.
“These results were driven by the actions we have taken over the past several quarters to realign our cost structure and optimise our operations and give us confidence that we can generate stronger profitability and cash flow from a lower revenue base moving forward,” said Ingle.
The Americas segment recorded the largest improvement in gross profit due to cost reductions, partially offset by lower sales. Meanwhile, the Brazil segment faced import pricing pressure, and the Asia segment was impacted by lower sales volumes.
Innovation and sustainability focus continue
During the quarter, Unifi published its ‘Sustainability Snapshot’ highlighting progress in textile-to-textile recycling and launched Luxel, a linen-inspired easy-care performance yarn.
Looking ahead, the company expects the fourth quarter of FY26 to benefit from responsive price increases linked to petrochemical-related inflation.
“As we enter the fourth quarter and look towards the remainder of calendar year 2026, we are encouraged by the momentum we are seeing across our businesses,” Ingle said.
“Our innovative beyond apparel business is continuing to gain traction, which should help support improved financial results,” he added.
Fibre2Fashion News Desk (SG)
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