April Edition 2007 - Textile News & Updates Newsletter

International News Wool Prices down in Australia, South Africa and New Zealand Spandex Prices further raised in China Spun Yarn Prices in China Yarn Prices on the International Market US Apparel Imports from Cambodia in 2006 Viscose Prices more rapidly rising in China Tavex-Santista Ambitions on Global Denim Market India Nylon Filament Industry Struggles with Excess Supply Latest Regulations regarding Textile Trade Polyester Prices would stop falling in Asia US Duty-Free Access for Bangladesh and Cambodia still far away Polyester Intermediate Prices on the Asian Market US Home Textile Imports in 2006: China vs. Pakistan and India Full Trade Liberalization would harm US Textile Industry, official study confirms Yarn Prices on the International Market Indian Cotton Prices are stabilizing Denim Fabric Prices in Pakistan Local News Govt likely to waive off import duty on water jet looms Textile circles oppose government criticism against industry Textile industry leaders lose hopes of getting incentive Sapphire Textile Mills maintains financial health Cotton market’s condition obtained firmer Delay in textile package hampers machinery import Seminar organized to discuss problems faced by textile industry TDAP to organize textile expo in Groundbreaking ceremony of Pakistan Textile City performed Rise of electricity tariff affects textile industry Textile exporters were asked to explore new and non-traditional market Over 80,000 job opportunities to be created Export of textile products grows by six percent BTMA to participate International Textile Asia 2007 Need for industrial parks emphasized
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Wool Prices down in Australia, South Africa and New Zealand Wool prices this week declined in Australia, South Africa and New Zealand, under larger supply than expected. A fall in the US dollar also depressed demand. Continued drought in Australia may however reduce available quantities in the coming months. TOP	Spandex Prices further raised in China Spandex prices were again raised in China after stabilizing for two weeks. Operating rates are still very high with a lack of supply for the fine denier yarns. Prices may however stabilize in the short term before possibly declining in the second part of the year. TOP
Spun Yarn Prices in China Cotton yarn prices were stable or slightly declined in the past two weeks in China, depending on markets. Viscose yarn prices further climbed in line with higher raw material costs while spun polyester yarn prices stayed the same. China's cotton yarn imports were unchanged in the first two months of the year after sharply rising in 2006. TOP	Yarn Prices on the International Market Cotton yarn prices are again rising on the international market with Indian yarns even surging 5-20 cents per kilo, as illustrated by our series of price tables below. Yarn prices are boosted by a sharp increase in cotton prices in India and a new fall in the US dollar. Viscose yarn prices are stimulated by a new jump in staple fiber costs. TOP
US Apparel Imports from Cambodia in 2006 US apparel imports from Cambodia surged 33% in the first two years without quotas. The Kingdom is however threatened by neighboring Vietnam that is now enjoying a quota-free access to the US market. Cambodia could however keep its market shares on the cotton knit apparel market, where its industry has built a strong position. TOP	Viscose Prices more rapidly rising in China Viscose prices were more rapidly increased in the past two weeks in China. Far from decelerating after a 15-month continued rise, viscose prices are being boosted by stronger demand with viscose fibers increasingly popular in the PRC. Raw material costs are also rising at the same time, including wood and cotton pulp prices. TOP
Tavex-Santista Ambitions on Global Denim Market Global denim leader Tavex-Santista will buy additional denim capacities in Mexico in order to attack the North and Central American markets. The new group will focus on authentic and premium segments in the coming years, according to the just released strategic plan for 2007-2011 that is available for download here. Loss-making Tavex will also implement a drastic cost-cutting program. TOP	India Nylon Filament Industry Struggles with Excess Supply India's nylon industry is confronted with a low level in consumption and excess capacities, our India Correspondent reports. Domestic nylon makers are weakened by surging competition from China where production costs are much lower. Exports are being depressed, as a result, while imports from China may further rise in the short term. Nylon filament prices are stabilized at current levels that are below released. TOP

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Latest Regulations regarding Textile Trade - US CITA: CAFTA-DR Short Supply - Correction. - US Customs: ABI Programming Update for Haiti HOPE Act of 2006. - US International Trade Administration (ITA): Textile and Apparel Products from Vietnam: Import Monitoring Program; Public Hearing. - China's Ministry of Commerce: Announcement on the Second Negotiated Bidding of Textiles Exported to EU and the USA. - Hong Kong Trade and Industry Department: Performance of Enterprises for the Second Round Allocation of Provisional Quantitative Limits for Textile Exports. - US President: Implementing changes in CBTPA (HAITI) and AGOA. - US International Trade Commission (USITC): The Economic Effects of Significant U.S. Import Restraints: Fifth Update. - US CITA: to implement the Haitian Hemispheric Opportunity through Partnership for Encouragement Act (HOPE). Final Procedures for Considering CAFTA-DR Short Supply Requests. - US Customs: Implementation Information on the Haitian Hemispheric Opportunity through Partnership Encouragement Act of 2006 (HOPE). - European Union: Transitional Measures in the sector of Flax and Hemp Grown for Fibre in Bulgaria and Romania. - Vietnam's Ministry of Trade: Circular on Guidance on monitoring of textile and garment exports to the US market. - Hong Kong Trade and Industry Department: Unit of Measurement in the China's Administration and Textile License Issuing System. - European Union: AD-Duties on PSF import People's Republic China, Saudi Arabia, Belarus and the Republic of Korea. - US ITC: Effect of Duty-Free, Quota-Free Access to U.S. Market for Imports from Least-Developed Countries. - US ITA: Tariff Rate Quota for Imports of Certain Worsted Wool. - US President: To Implement the CAFTA-DR With Respect to the Dominican Republic and for Other Purposes. - European Union: Notice of the impending expiry of certain anti-dumping and countervailing measures: Polyester textured filament yarn (PTY). - Hong Kong Trade and Industry Department: The Mainland of China / Notice Concerning Adjustments to Unit of Measurement in the Administration and License Issuing System of Provisional Textile Export Licenses. - Hong Kong Trade and Industry Department: Proposal in United States for Amending the Standard for the Flammability of Clothing Textiles. TOP
Polyester Prices would stop falling in Asia Polyester prices slightly declined in the past week in Asia, being depressed by continued weakness in Chinese demand. Textile plants are progressively returning to full production, however, and demand for polyester fibers is expected being much stronger after currently high inventories will have been digested. China's plants may try raising spot quotations in the coming days. TOP	US Duty-Free Access for Bangladesh and Cambodia still far away Under a WTO's agreement, the United States is committed to offer duty-free and quota-free access to the poorest countries, including Bangladesh and Cambodia. U.S. textile industry just requested to exclude from benefits apparel exporters in the two countries. Two solutions are being offered, including exclusion of apparel from the list of eligible products and strong rules of origin. TOP
Polyester Intermediate Prices on the Asian Market MEG prices last week rose US$5 in Asia while PTA prices stayed unchanged. With crude oil now falling below US$60 and new PTA capacities currently added in China, polyester intermediate prices are not expected significantly rising in the short term. Demand from polyester producers remains very low, in addition. TOP	US Home Textile Imports in 2006: China vs. Pakistan and India China and Pakistan gained additional shares of the US home textile market in the past year with India facing more difficulties, by contrast. The removal in quotas offered strong opportunities for low-priced sheets from Pakistan, but India successfully fought on towels' market. China combined quality and quantity with its shipments surging, as a result. TOP
Full Trade Liberalization would harm US Textile Industry, official study confirms US textile industry would be harmed by new trade liberalization, according to a U.S. official study. Removing current rules of origin on US duty-free apparel imports would dramatically depress US textile exports that are also protected by very high tariffs on apparel imports from Asia. Surging 43% in 2005-2011 without any radical change, US apparel imports would not be further boosted by a full removal of quotas and tariffs, the US International Trade Commission (USITC) however estimated. TOP	Yarn Prices on the International Market Spun yarn prices are climbing on the international market, in line with higher cotton prices in India and a global jump in viscose fiber prices. Prices generally rose between 5 to 15 cents on India's export market, as reflected by our series of tables including pure cotton yarns, compact cotton yarns, viscose ring yarns, and viscose open end yarns, polyester/viscose yarns from Indonesia and viscose yarns from China. TOP
Indian Cotton Prices are stabilizing Cotton prices further rose in the past seven days in India with domestic quotes gaining 100-200 rupees, except for a stabilized Shankar-6. Export quotes more significantly increased, as they were boosted by a new fall of the US dollar. TOP	Denim Fabric Prices in Pakistan Denim fabric prices have been raised in the last two weeks in Pakistan, following the slight rise in cotton and cotton yarn prices. Demand from foreign countries is slowing down as a result. Competition from China is progressively increasing with cotton fabric exports declining. We below publish our first table of denim prices in Pakistan, by qualities and destinations. TOP
Govt likely to waive off import duty on water jet looms The federal government, to enhance the domestic share in women fashion garments in the international market and encourage production. TOP	Textile circles oppose government criticism against industry Textile circles have strongly opposed the latest government criticism against the textile industry and termed it as a media trial of the industry by the ministry of finance and planning commission. TOP
Textile industry leaders lose hopes of getting incentive The textile industry leaders have lost hopes of getting a second incentive and concessions package; the next budget in due in June and there are fears of closures and default on payment of bank loans. TOP	Sapphire Textile Mills maintains financial health Sapphire Group of company’s constituent member Sapphire Textile Mills Ltd has maintained its robust financial health as evidenced from liquidity ratio, long term debt to equity ratio and high breakup value of share. TOP
Cotton market’s condition obtained firmer On the cotton market, firmer conditions obtained as ginners are patient despite delivery on imports; market sources said here on March 26. The spot rate was up Rs 25 to Rs 2600 while in ready prices ranged between Rs 2350/2700. Cotton in pipeline from abroad hung like sword of Damocles over ginners who had to stay in pressure from buyers and kept prices attractive for the buyers. TOP	Delay in textile package hampers machinery import The domestic importers and industrialists are not importing any textile machinery due to the delay in announcing proposed textile package by the government, industry sources said here on March 29. The package was primarily aimed to fix the textile machinery import at zero-rating duty, bringing about the decline by 34 percent in the textile-related machinery during July-February of the current financial year. TOP
Seminar organized to discuss problems faced by textile industry A seminar titled 'The Elimination of Textile Quotas and Pakistan-EU Trade' was organized by Social Policy and Development Centre (SPDC) at a local hotel here on March 14 to discuss different problems faced by the textile industry. TOP	TDAP to organize textile expo in The primary agency of government, Trade Development Authority of Pakistan (TDAP) is organizing a single-country textile exhibition in Nairobi from August 31-September 2, 2007, industry sources said here on March 28. The event will be exhibited by various textile industry products including upholstery, towels, curtain cloth, ceramics, sports goods, carpets and rugs, textile and made-ups, yarn, cotton and cotton fabrics, synthetics textiles, wooden, plastic and glass furniture, wooden and brass handicrafts and many others. However, special incentives are being offered to the companies, which will be participating in the event, by the government. TOP
Groundbreaking ceremony of Pakistan Textile City performed The groundbreaking ceremony of Pakistan Textile City was performed by Prime Minister Shaukat Aziz here on March 21; sources said here. Sindh Governor Dr Ishratul Ibad Khan, Chief Minister Dr Arbab Ghulam Rahim, federal ministers Mushtaq Ali Cheema, Babar Khan Ghauri, Syed Safwanullah, Ghaus Bux Mehar, provincial ministers including Adil Siddiqui and city Nazim Mustafa Kamal were also present on the occasion. The Prime Minister said that it was the first ever problem-free textile-specific industrial estate in the country. TOP	Rise of electricity tariff affects textile industry Pakistan Textile industry is in a fix with rise of electricity tariff. Government has recently increased the electricity tariff by 10 percent. This act will affect most industries of the country including the textile. The All Pakistan Textile Mills Association (APTMA), along with Pakistan Hosiery Manufacturers Association, Pakistan Association of Industrial Traders and Lahore Chamber condemned this law here on March 26. They say that the textile industry is already facing problems of extra cost in unscheduled breakdowns, load shedding, and machinery damages due to low voltage. This increase in tariff will add to its predicament. TOP
Textile exporters were asked to explore new and non-traditional market The textile exporters were asked to explore new and non-traditional markets to increase their exports; Federal Minister for Textile Industry Chaudhry Mushtaq Ali Cheema said in the office of Pakistan Textile Exporters Association (PTEA) here on March 21 after attending the 9th meeting of the Board of Directors (BOD) of Faisalabad Garment City Company (FGCC). He said that majority of the textile exporters were focusing on traditional markets in spite of tough competition that has already made their rate of profit thin. He mentioned the huge Russian markets and said that its textile imports were 17 billion dollars. He said that a textile exhibition would be held in Russia by the end of this month and urged exporters to visit it and explore this huge unexplored market. He said regarding new package for textile industry, as such there was no need of any new package. However, Textile Ministry was duty bound to take care of all stakeholders and facilitate the industry. TOP
Over 80,000 job opportunities to be created Over 80,000 job opportunities would be created after the establishment of Pakistan Textile City near Port Qasim; Sindh Governor Dr Ishratul Ibad has expressed the hope here on March 21. He was speaking at the ground-breaking ceremony of the project at Governor House. Prime Minister Shaukat Aziz, Sindh Chief Minister Dr. Arbab Ghulam Rahim, Federal Tourism Minister Nilofar Bakhtiar, provincial minister Adil Siddiqui and elite of the city were present. He said creation of the textile city would not only help earn valuable foreign exchange but also enhance exports of value-added textile products. He termed the project a milestone in moving the country towards economic progress and prosperity. He was of the view that thousands of people would indirectly benefit from the project. The Governor said that Karachi was emerging as economic hub in the region due to positive economic and investment-friendly policies of the present government. The governor paid rich tributes to City Nazim Karachi Syed Mustafa Kamal for improving the city’s infrastructure, claiming that he had laid a network of overhead bridges and underpasses. He continued that Mustafa Kamal had transformed Karachi into a modern city in a short span of time. TOP
Export of textile products grows by six percent The export of textile products grew by six percent in the first eight months (July-February) of the current financial year compared to the corresponding period of the last year; the latest statistics of textile exports showed on March 20. The export of textile products also depicted a growth of 6.27 percent in February 2007 to $788 million as against $742 million in February 2006, while it also grew by 3.19 percent compared with preceding month of January, when $764 million worth of textile products were exported. The figures suggest that export of various items in textile category showed mixed performance with some posting growth while few falling down in the period under review. The government in August 2006 gave a major textile package of over Rs 25 billion to the textile industry to support the country’s textile exports, which are under severe pressure since the dismantling of quota regime on January 2005. TOP
BTMA to participate International Textile Asia 2007 The non-profit making organization, British Textile Machinery Association (BTMA), in collaboration with UK Trade and Investment (UKTI) will participate in the international Textile Asia 2007. The International Textile Asia 2007 Exhibition, one of the most promising and enduring Exhibition to be held for the third successive year at the Karachi Expo Centre from March 18-21, 2007 is the official event of the Federal Ministry of Textile Industry. Alen Little, director BTMA, will be representing the Association at the exhibition and Ather Moeen Khan, senior trade and investment officer at the British Deputy High Commission, will be representing the UKTI/British Deputy High Commission. UK Trade & Investment is the UK Government organization that supports companies in the UK doing business internationally and overseas enterprises seeking to set up or expand in the UK. TOP
Need for industrial parks emphasized The need for industrial parks with investment in common energy generation and distribution and one window facilities has been emphasized by the government with a view to overcome the low productivity syndrome while reducing the cost of doing business. Minister for Textile and Industry Mushtaq Ali Cheema held a meeting of all relevant ministries and organizations here on March 11 to streamline the deteriorating condition of the textile sector and formulate recommendations for submission to Prime Minister. The meeting was attended by ministries of finance, food, agriculture and livestock, ministry of industries, production and special initiatives, science and technology, petroleum and natural resources, commerce, planning division, central board of revenue, board of investment, State Bank of Pakistan, Wapda, Enercon, Navtec, Tusdec, TDAP, higher education commission, and Pakistan central cotton committee representatives. TOP

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