Taiwan's
Exports of Polyester Fabrics remain strong
Taiwan's exports of polyester filament fabrics
did not decline in the past year thanks to a surge in
sales to countries where apparel production is rapidly
expanding, such as China, Vietnam or India. Averaged prices
rose in the last months after a jump in raw material costs
of Taiwanese weavers, as reflected by our series of tables
below. TOP
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Cotton
Market depressed by lack of Chinese buying
Cotton prices slightly declined over the past
week, actually reflecting a very low level in trading
activity. Buying from China did not take off yet and will
probably not be felt before the end of New Year holidays,
in three weeks. Global stocks are expected more strongly
falling than earlier anticipated, however, possibly giving
a boost in the arm to cotton prices. TOP
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Polyester
Prices may stop decreasing
Polyester prices may stop declining in China
after oil prices clearly rebounded over the past week,
offering some more support for polyester intermediate
prices. Paraxylene sharply rebounded in the last days
while PTA slightly recovered on the Asian market. Staple
fibers today gained 100 Yuan in China, as a result. TOP
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Strong
Correction in Wool Prices
A sharp correction in wool prices this week followed the
surge observed at the start of the year. Announcement
of a very large offering in the coming week immediately
depressed demand from buyers who preferred waiting for
a few more days. Supply concerns remain, however, and
prices should not dramatically fall at the end. TOP
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Spun
Yarn Prices in China
Spun yarn prices did not increase in the last two weeks
in China, although cotton and viscose fibers continued
rising. The weakness in demand in this period of the year
forces spinners in accepting lower margins. Polyester
spun yarns even declined after staple fibers prices were
sharply down. TOP
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US
Imports from China Surging in Quota Categories
US orders to China sharply rebounded in the second part
last year in categories still subject to quotas. US imports
from China surged in the first two weeks of 2007 as a
result, compared with their averaged level in the last
quarter of 2006. China's share of total US imports sharply
rose in the same restricted categories and quotas may
rapidly fill in 2007. Is a new quota crisis in sight?
TOP
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Crude
Oil's Rise limits Polyester's Decline
Oil prices further increased Wednesday in New
York, leaving room for higher naphtha and Paraxylene prices.
This new trend in petrochemical prices is offering some
support for PTA and MEG in Asia. Polyester staple fibers
further declined Thursday in China, nevertheless. TOP
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EU's
Denim Fabric Exports in January-September 2006
EU's exports of cotton denim fabrics further
decreased in January-September 2006 after already falling
in 2005. This decline reflects difficulties met by relocated
capacities in Tunisia, Morocco and Romania while European
suppliers faced a new setback on the Turkish market. TOP
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Latest
Regulations regarding Textile Trade
-
European
Union: Adjusted Quotas on textile products from China
after integration of Bulgaria and Romania. Textile Agreements
with Azerbaijan, Kazakhstan and Ukraine. Anti-dumping
duties on PSF from Belarus (expiration).
-
US
Trade Representative: Seeking Comments on Duty-Free
Quota-Free Access for Least Developed Countries.
-
Hong
Kong Trade and Industry Department: Revised Textiles
Notification Forms under the Textiles Trader Registration
Scheme.
-
US
Committee for the Implementation of Textile Agreements:
Adjusting textile limits on imports from Vietnam.
-
European
Union: Preliminary anti-dumping duties on PSF from Taiwan
and Malaysia. Anti-Dumping Reinvestigation of Polyester
Filament Fabrics from China.
-
US
International Trade Administration: Preliminary anti-dumping
duties on PSF from China.
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US
President: Proclamation Related to Certain Actions Under
the African Growth and Opportunity Act.
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US
Customs: 2007 Quota/Visa Requirements for Textile Apparel
from the Ukraine.
-
Hong
Kong Trade and Industry Department: China's Textile
Exports to the European Union and the United States
Subject to Provisional Administration.
-
China
Ministry of Commerce: Exports to Bulgaria and Romania.
Implementation of agreement with South Africa (new quotas).
-
US
Committee for the Implementation of Textile Agreements:
Vietnam - Adjustment of the 2007 Quota Period and Elimination
of Quota, and Visa.
-
US
International Trade Administration: Anti-dumping investigation
on PSF from China.
US Customs: Vietnam WTO Membership and Adjustment of
2007 Quota Period.
-
Hong
Kong Trade and Industry Department: Turkey's Safeguard
Actions on Mainland's Textiles and Clothing Products.
-
China
Ministry of Commerce: Implementation of Sino-South Africa
Textile Agreement.
US Committee for the Implementation of Textile Agreements:
Amendment of Limitation of Duty Free Imports - Apparel
made in Peru and Colombia from regional fabrics.
-
US
International Trade Administration: Monitoring Program
covering imports from Vietnam.
-
US
Customs: Additional Documents Requirements for Textiles
and Textile Products.
-
Hong
Kong Trade and Industry Department: The Mainland of
China - Issuance of 2006 Provisional Textile Export
Licenses.
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Cotton
Yarn Prices unchanged in India
Cotton yarn prices did not significantly move in the past
four weeks in India, although some qualities were slightly
down as indicated by our series of tables below. Continued
stability in cotton prices in the last weeks may explain
the current trend, our India Correspondent reports. Cotton
textile exports further increased in the April-September
period of last year, according to latest official data.
TOP
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US
Imports of Denim Trousers increasingly dominated by Asia
Competition between low-cost countries is clearly increasing
on the US denim jeans market. China continued threatening
Mexico as the top supplier on the men's segment, while
duty-free access supported sales from Central America
and Africa. On the women's market, however, Asia is clearly
gaining ground although supporting heavy transport costs
and import duties, that we below calculated and compared
with unit prices. TOP
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Viscose
Prices further increasing in 2007
Viscose prices again rose in the past weeks in
China as a result of tight supply. Consumption will continue
exceeding production in 2007 and prices may further increase
as a consequence. Better results are announced by viscose
producers in China and India after prices raised 10%-18%
in 2006. TOP
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EU's
Terry Towel Imports in January-September 2006
EU's imports of terry towels further rose this
year with shipments from China again surging, not surprisingly.
Prices did not really decline after unit value of Chinese
products stopped decreasing. Pakistan is still resisting
China's competition thanks to low prices but Turkey is
suffering, as indicated by our series of tables. TOP
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Wool
Prices climbing 15% in two weeks
Wool prices further surged this week with Australian
indicator up 15% since the start of the year. Demand from
China and supply concerns are boosting prices, triggering
worries about the reaction of downward processors if prices
would continue increasing. TOP
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Nylon
feedstock prices again rising in Asia
Nylon prices stayed unchanged over the past four
weeks in China, reflecting some weakness in demand from
downward processors while caprolactam prices further increased.
A lack of supply is behind this continuous rise in raw
material costs in the past months. TOP
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Turkey
will buy more US Cotton
Cotton markets were yesterday quiet, as New York
was closed for Martin Luther King Day. Chinese buyers
are expected buying Indian cotton in the short term while
Turkish spinners will turn to US origins after heavy floods
lowered domestic production last fall. TOP
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EU
imposes heavy duties on PSF from Malaysia and Taiwan
The European Union decided imposing heavy anti-dumping
duties on imports of polyester staple fibers from Taiwan
and Malaysia. Additional tariffs are ranging from 14.70%
to 29.50% and should now stimulate sales by Indian and
Indonesian companies on EU's market. TOP
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EU
Quotas on China may rapidly fill in 2007
China's clothing exports to the European Union
may rebound in 2007. Shipments already surged by the end
of 2006 with EU's quota fill rates finally reaching 80%-90%
in most categories. Licenses are being rapidly used in
China in the first days of 2007, in addition, with quota
prices reaching higher levels, as reflected in our series
of graphs below. Adhesion of Romania and Bulgaria to the
European Union should be followed by a rise in EU's quotas,
nevertheless. TOP
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Turkey's
Textile Industry is back on track
After dramatically suffering from the 2005 surge
in EU's imports from China, Turkey's textile industry
finally recovered, thanks to a stronger euro and also
due to EU quotas on Chinese products. Exports even surged
in the last months of 2006, from the low levels experienced
by the end of 2005. Textile and apparel production are
also recovering although relocation to low-cost countries
continued in the past year. TOP
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Spun
Yarn Prices in China
Yarn prices are no more moving in China, in line
with low market activity and more stable raw material
costs. Cotton and viscose prices continue rising while
polyester is declining. Yarn prices should stay unchanged
in the coming weeks, until after Chinese New Year holidays,
by the end of February. TOP
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New
consolidation on Cotton Market, but...
Cotton futures further fell Tuesday in New York,
in a new day of consolidation. Demand from China could
soon rebound on the international cotton market, however.
With import quotas in hands, Chinese buyers may rapidly
turn to foreign origins after prices plummeted in the
past days. TOP
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China
tries limiting US Quota Prices
US apparel imports from China may rebound this
year, after dramatically falling in 2006. With stability
back on the market, US orders placed in the last fall
may have been much larger than experienced a year earlier,
when the United States had just imposed embargoes. China
again reformed its quota allocation system in order to
avoid the same speculation in quota prices than at the
start of 2006. TOP
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Spandex
Prices are surging in China
Spandex prices are surging in China with 40D
rising far above 60,000 Yuan in the past days. The sudden
rebound in spandex prices may be explained by higher demand
from foreign countries in the past month and a new increase
in raw material costs. Last year's consolidation of the
global spandex market added to China's anti-dumping duties
are now leading to this sudden rebound in prices. TOP
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US
Quotas on Vietnam may be replaced by new procedures
Although US quotas are removed, importing Vietnamese
apparel could remain complex and hazardous. The US administration
began preparing its monitoring system to rapidly impose
anti-dumping duties on imports from Vietnam, if necessary.
In order to avoid such sanctions, Hanoi intends regulating
export quantities and prices under new procedures that
are considered ineffective and burdensome by Vietnamese
exporters. TOP
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EU
could double anti-dumping tariffs on Chinese Polyester
Filament Fabrics
The European Commission decided reinvestigating
imports of polyester filament fabrics from China. Although
Chinese fabrics were already subject to anti-dumping duties
since March 2005, imports continued surging. Average unit
price even fell in the last year and Brussels suspects
additional dumping. The procedure is a clear sign that
the European Union will strengthen its trade defense after
quotas are fully eliminated on Chinese textiles &
clothing, at the end of 2008. TOP
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Textile
City to be inaugurated next month in Karachi
Pakistan Textile City will be inaugurated next
month in Karachi; Minister for Textile Industry Mushtaq
Ali Cheema said here on January 25. TOP
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Central
Bank refuses R&D claims of textile exporters
The Central Bank are refusing the research and development
(R&D) claims asked by the leading textile exporters
in the light of clarification No. 23 issued by the State
Bank of Pakistan. TOP
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Karachi
Chamber sees textile exports in crisis
Pakistani Textile Exports is in Deep Crisis these
days; Abdullah Zaki Senior Vice President of Karachi Chamber
of Commerce and Industry said in a release here on January
23 during the first meeting of the Chamber's export sub-committee.
TOP
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APTMA
seeks more financial relief and tariff concessions
All Pakistan Textile Mills Association (APTMA)
held an extra-ordinary general meeting in Lahore on January
23 to keep on mounting pressure on the government for
getting more financial relief and utility tariff concessions.
TOP
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Textile
industry needs focus on value addition
The focus on value addition in textile industry
would enable the country to surpass the textile export
target of $14.50 billion in three years, Tanvir Ahmed
Sheikh. TOP
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Textile
sector to bond economic ties with Japan
The domestic textile sector might lose its competitive
edge, if it did not improve technology and human resource
and upgraded its machinery, especially in the weaving
sector. TOP
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Textile
exports register 4.33 pct growth
The latest data released by Federal Bureau of
Statistics showed that export of textile products in the
1st half of the current financial year posted a growth
of 4.33 percent. TOP
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Govt
invites proposals to setup carpet village
The proposal from carpet exporters on establishment
of Carpet Village at provincial metropolis has been invited
by the government of North West Frontier Province (NWFP).
TOP
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Textile
fair to generate $1 billion export orders
The textile exporters who participated in the Heimtextil
exhibition, largest home textile event held in Germany
recently are expecting to get foreign orders worth of
US$ one billion. TOP
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Textile
industry unable to achieve export target
The situation generated due to a number of complex issues
faced by the textile industry in the country, make it
hard to achieve the set textile export target in the current
fiscal year. TOP
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Cotton
spinners asks to allow cotton imports from India
The cotton spinners in country, to enable them
meet the shortage of around three million bales of cotton
has asked the federal government to allow cotton imports
from India. TOP
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NIBGE
organizes Intl. seminar on Bt cotton on March 4-6
The international seminar on Bt cotton for small-scale
farmers has been organized by the National Institute for
Biotechnology and Genetic Engineering (NIBGE) in Faisalabad.
TOP
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Textile
association condemns free cotton import export policy
The All Pakistan Textile Mills Association (APTMA) has
condemned the approach contrary to the free import export
policy and statement of the Ministry of Food, Agriculture
and Livestock. TOP
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Policy
makers bring change in interest rate into limelight
The policy makers on both the public and private
sectors brought change in interest rate into the limelight.
Analysts have pointed out that textile is not the only
sector to be affected by this phenomenon. It would influence
the cost of business through financial cost. TOP
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| Relief
package for textile sector may be announced soon
Textile sector relief package is likely to delay until the
last week of January when a ministerial meeting with Prime
Minister Shaukat Aziz in the chair would be held to consider
the possible relief measures to the industry. TOP
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PQA
to allot balance 550 acres for textile city
The Port Qasim Authorities (PQA) have agreed to provide
remaining 550 acres land for the project of Pakistan Textile
City, Karachi being planned on an area of 1250 acres after
the intervention of prime minister. TOP
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| The
cotton arrivals at the ginneries showing shortfall
The cotton arrivals at the ginneries across the country
till January 1 2007 is showing a shortfall of 1.45 percent
in the national production. The cotton arrivals have been
recorded at 11.082 million bales compared to last year’s
11.246 million; a press release of Pakistan Cotton Ginners
Association on January 07 revealed. TOP
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| Cotton
Yarn Prices in Pakistan
Cotton yarn prices slightly increased by the end of last
year on Pakistan's domestic market. Activity was however
extremely weak, mainly due to Eid Holidays. Spinners are
now waiting for a textile package from the government that
should boost exports in the current year. Raw material costs
did not really change with strong interest for Indian cotton,
our Correspondent in Pakistan reports. TOP
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Readymade garment exports rise
in Dec 2006
The ready-made garment (RMG) exports following the increasing
demand in the international market was up 15 percent during
December 2006 as compared to the same period last fiscal
year, industry sources said here on January 23. During the
month of December 2006, the exports from the sector stood
at $132.26 million as compared to $114.969 million during
the same period of the last fiscal year 2005.
The readymade garment exports also showed an increase of
$31.994 million or 32 percent against November 2006 during
which country's textile exports were recorded $100.266 million.
Further during the first half (July-December) of the current
fiscal year, the ready-made garment exports have increased
by around 3 percent while comparing to the same period of
the last fiscal year as exports stood at $691.928 million.
Ijaz Khokhar, chairman of the Pakistan Readymade Garment
Association (PRGMEA) pointed out the surge in not appositive
sign as the sudden increase in the value-added garments
had occurred only due to Christmas. But to get the actual
number and assess the situation of the textile exports,
the current figures should be compared with the next two
months figures as readymade garment is set to go down during
next two months owing to decreasing sales of textile item.
The situation generated due to the continued political turmoil
in Bangladesh, which further helped to divert foreign textile
orders to Pakistan, is also seen as the other reason to
the surge in the sector. TOP
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Relief
package proposed by NTSC to cost Rs 80-100 billion
The relief package proposed by the National Textile Strategy
Committee (NTSC) is expected to cost the government Rs80-100
billion; federal textile ministry officials say. The relief
package has been proposed for pulling the textile industry
out of current crisis and make its exports competitive in
the world market.
The NTSC has proposed to the government to provide relief
package to bring down the cost of value added textile exports
by about 11-12 per cent and of yarn by 3.5-4.5 per cent.
The relief demanded by the committee also includes 3-6 per
cent R&D support already extended to the garments (six
per cent), home textiles (five per cent), and grey cloth
(three per cent) exporters. The committee has proposed to
the government to suspend all provincial and federal levies
like social security fund, EOBI, education cess, etc till
the time the industry comes out of the crisis and becomes
competitive enough to compete with its regional competitors
like India and Bangladesh. The committee further suggested
that this benefit should also be passed on to the spinners.
The suspension of the levies will provide financial relief
to the manufacturers and exporters across the textile chain
of about 1.5-2 per cent of their total cost of exports.
Another concession made in the report calls for suspension
of turnover tax (one per cent on value-added and 1.5 per
cent on yarn). TOP |
