US
Quota Report: Cotton Underwear (352)
US Imports are clearly declining this year in category 352
(cotton underwear) with Central American countries losing
market shares in addition. China is already pushing very
hard in anticipation of next year's removal in US quotas
while Thailand continues taking advantage of its quota-
free access to the US market.
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Panic
is spreading ahead of quota abolition
Less than six months before abolition of quotas, panic is
spreading all over the world with an increasing number of
producers and exporters requesting a delay in textile liberalization.
US textile lobby try this week putting pressure on the US
Congress although US administration already rejected any
claim to postpone the quota phasing-out.
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Polyester
prices boosted by a lack of supply
More than a rise in demand from textile producers, a lack
of supply is now boosting polyester and raw material prices
in the Far East. While stocks are falling, production of
staple fibers and filament yarns is being reduced by electricity
shortages in China.
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EU's
Cotton Denim Imports in 2001-2003
EU's cotton denim imports sharply fell in the past year,
with India, Pakistan and Brazil losing substantial shares
in the market, in addition. Turkey's shipments less dramatically
fell, reflecting stronger Italian demand. Brazil and Pakistan
continued proposing the lowest prices.
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Cotton
prices again plunging in the past week
Cotton prices once more plunged in the past week in absence
of demand from China. A sharp rise in global production
is still forecasted by experts although weather conditions
could turn less favorable in the coming months. Rain began
excessively pouring in China while drought is reported in
certain cotton areas in India.
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China
and India will lose EU's tariff reduction under the GSP
treatment
China's and India's textile and apparel exporters
will lose most of EU's GSP treatment, effective from 1 January
2006. EU's duties will be effectively raised, as a result,
in order limiting the surge in imports in the post- quota
period.
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Polyester
prices under pressure, as cotton prices are falling
Polyester prices did not change in China in the
past week while slightly rising in India and Pakistan for
July delivery. Demand for polyester staple fibers could
be depressed by the current fall in cotton prices. Crude
oil and polyester intermediate prices rebounded in the past
seven days.
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Cotton
yarns: slowdown in EU's imports in the first half
EU's imports of cotton yarns are relatively weaker
this year after rising 13% in volume terms in 2003. Pakistani
shipments are even declining due to higher price levels,
while imports from Syria are no more surging. India could
take advantage of the removal in quotas by the end of the
year after reaching EU's limits in the past years.
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US
Import Analysis: Cotton Sheets (Category 361)
US imports of cotton sheets continued sharply rising
in the January-April period although prices also increased.
Shipments from China already surged ahead of next year's
quota-free access. China and Pakistan could threaten India
and Thailand in the post-quota period, as indicated by our
statistical report.
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30%
growth in hosiery, knitted garments exports
Arshed Javed Sandal, the PHMA regional chairman,
said that hosiery and knitted garments have exported up
to US$ 1.5 bn during the last fiscal year. The exports showed
30% growth as compared to year 2002-2003. Total textile
exports from Pakistan exceeded with an increment of 12%
and touched the mark of US$ 8.50 bn.
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Faisalabad
Textile City Projects approved
The board of directors of Punjab Small Industries
Corporation (PSIC) has approved the Textile City Project
at a meeting presided by Punjab Industries Minister Muhammad
Ajmal Cheema.
The
minister was informed that so far, 375 plots measuring 112
acres have been allotted at the Sundar Industrial Estate
site and more were still to be allotted. The minister ordered
starting of development work at the site immediately for
completion within a year. He said that provision of international
standard facilities should be ensured in Sundar Industrial
Estate.
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12%
growth in textile exports
The ministry of commerce has reported 12 per cent
growth in textile exports during the fiscal year 2003-04.
Official
figures compiled by the ministry of commerce showed that
exports of primary commodities registered no growth during
the last fiscal year. However, growth was registered in
exports of leather, chemical and pharmaceutical products
as compared to previous year while exports of engineering
and surgical goods showed decline.
Similarly,
the exports of sports items also registered a decline of
7.7 per cent to $309.5 million against $335.2 million in
the previous year. The fall in exports of these products
was attributed to high input costs which rendered these
goods less competitive in international market.
Product-wise
analysis of the statistics showed that exports of textile
manufactures, which constituted 65.9 per cent of the total
exports, stood at $8.089 billion during the year as against
$7.224 billion the previous year, showing an increase of
12 per cent.
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Balochistan
showed remarkable progress in cotton production
Balochistan province showed remarkable progress
in cotton production recording an output of 98,000 bales
of cotton during the current season...
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Govt.
Aims for 15m bales cotton output by 2010
The government is therefore, determined to accelerate
the cotton research and development process necessarily
required for a quantum jump in cotton production and for
the qualitative improvement matching the industrial requirements...
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PSF
yarns and fabrics demand to grow
The demand of polyester blended yarns and fabrics
are continuously showing an increasing trend in the domestic
and international markets, according to a half-yearly report
of Ibrahim Fibres Ltd...
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EU
agrees to review duty on bed linen
In order to review the 13.1 per cent punitive duty
imposed on bed linen, the European Commission will have
to once again carry out investigations after seeking quotations
from cooperative companies or exporters to the European
market...
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Cotton
production achieves set target
Cotton crop registered a production of 10.061 million
bales achieving the set target of the production for 2003-04.
The targets of cultivation and production of cotton for
the current year was set at 2.995 million hectares and 10.06
million bales.....
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Continued
fall in cotton yarn prices in China and Pakistan
Cotton yarn prices are again falling, in line with
lower cotton prices. Demand from yarn processors was partly
suspended and orders were cancelled in major producing countries,
in anticipation of lower prices. Spinners are confronted
with relatively large stocks of yarns produced with expensive
cotton fibers. |
EU
Quota Report: very difficult situation in view for traders
EU's importers may expect very serious difficulties in this
last year with textile quotas. As of 1 July, quotas were
more than 50% filled in a large number of categories. In
addition to the impact of enlargement to ten new members,
the European Union also refused implementing the carry forward
provision this year while also insisting that controls will
probably continue beyond the end of the year to cover products
that were shipped in 2004 but will arrive at EU ports in
2005.
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US
Quota Report: Cotton Knit Shirts
US Imports are no more rising in key-categories 338 and
339 (cotton knit shirts, including T-Shirts and sweatshirts),
with less quota pressure than in past years as a consequence.
Vietnamese exports could be rapidly confronted with a US
embargo before being depressed by surging competition from
China in the next year. Other countries benefiting from
US quota-free and duty-free access in 2003 could also face
more difficulties in 2004.
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Turkey's
textile imports could continue surging in the quota-free
era
Turkey's textile imports surged in the past two years and
continued sharply rising in the first part of 2004. Imports
could be further boosted by the removal in Turkish quotas
in less than six months. China, India and Pakistan should
benefit from rising demand as Turkish apparel producers
will try reducing their costs in order to maintain exports
in the free- quota world. |
