Cotton
market still waiting for China's demand
Cotton prices slightly declined in the past week in New
York, reflecting a lack of activity. Demand from China was
reported disappointing in the prior week, putting pressure
on Friday prices. Physical markets were also dull in the
past week with prices however falling in India. Higher demand
was reported in Pakistan but prices stayed unchanged. TOP
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EU
announces China and Vietnam shoe dumping duty
The European Union's Trade Chief Thursday announced anti-dumping
measures on imports of Chinese and Vietnamese leather shoes.
A progressive duty has been proposed which could begin in
April. The recommendations will need to be agreed by member
states. In a further move, Peter Mandelson also urged EU
retailers not to pass the increased cost onto customers.
TOP
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Wool
prices further rallying in Australia, down in South Africa
Wool prices were again up this week, mainly thanks to sales
of high-quality fine wool in Newcastle, Australia. Prices
nearly gained 18 percent in seven weeks, in A$. This sharp
rebound could continue in the near term if Chinese buyers
finally accept the new price level. TOP
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Demand
falls on cotton markets
Demand on the world's cotton markets yesterday was largely
weak. Cotton prices yesterday closed slightly down in New
York whilst remaining unchanged in India and Pakistan. Futures
in China however tumbled today. TOP |
Cotton
prices rally
Cotton prices in New York rallied yesterday following a
weaker session on Tuesday. Nearby Futures are expected to
remain within a range of between 55.60 and 58 cents per
pound. Pakistan was again stronger yesterday with ginners
encouraging panic buying. In India, trading remained steady
but firm. TOP
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Texworld
denim exhibitors react to China's competition
Over 700 textile and apparel exhibitors attended the 18th
Texworld trade fair in Paris this week. International buyers
sought out latest Spring/Summer collections as well as latest
ideas for the Autumn/Winter collections whilst denim producers
spoke of rising costs as well as seeking new innovations.
TOP |
US
Imports of T-Shirts - 2005 Review
US imports of T-Shirts for 2005 declined in the men's category
whilst sales in the women's category increased. Shipments
from China surged during the first half of the year. However,
embargoes took effect in July. The US market continued to
be dominated by Mexico, Honduras and El Salvador. Asian
suppliers were stronger and matched China for price. TOP
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US
Home Textile Imports in 2005: China vs. India and Pakistan
US imports of home textile products in 2005 favored Pakistan
and China. India has largely been squeezed out by the two
and is planning to step up production in 2006. Despite performing
well last year, several Pakistani mills are looking to move
into Bangladesh and Sri Lanka. This would see the companies
profit from lower production costs. TOP |
Latest
Regulations regarding Textile Trade
-
US Customs: MOU with China/FAQs. China Stage 2 Opening
for Quotas Filled in 2005. New Label Requirements for
Socks.
- US
Committee for the Implementation of Textile Agreements:
Interim procedures for requests under the CAFTA-DR.
- Hong
Kong Trade and Industry Department: Management of export
licenses and quotas in mainland China.
- China
Ministry of Commerce: Distribution of textile quotas
to the EU and the US.
- US
Customs: Exclusion from quota of certain knit to shape
garments.
- US
Committee for the Implementation of Textile Agreements:
Short supply request (certain 100 percent cotton fabrics).
- US
International Trade Administration: Woven Cotton Boxer
Shorts (Probable Effect of Modification of NAFTA Rules
of Origin).
- Hong
Kong Trade and Industry Department: Implementation of
PN and TTRS Requirements to the EU Market.
- China
Ministry of Commerce: List of Textile Products Subject
to Interim Administration to be exported to the EU.
- US
Committee for the Implementation of Textile Agreements
(CITA): Seizing of mis-described and misclassified ramie
fabric shipments from China. Also, adjustment of import
limits from Vietnam plus public comments sought re:
domestic supplies of certain fabrics under the CBTPA.
- US
Customs: Entry of China's embargoed products. Results
of February China staging.
- Hong
Kong Trade and Industry Department: European Union Commission
Directive announcing the use of textile fibre elastomultiester
for labeling purpose.
- US
Customs: Entry of China's embargoed products. China
2006 Visa and Elvis Clarification.
- US
International Trade Commission: Modification of NAFTA
rules of origin re: Woven Cotton Boxer Shorts.
- European
Union: Confirmation of no loop-hole for a company trying
to escape dumping duties by changing names. Also, clarification
of origin for spun yarns from Swaziland. TOP
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Brazil's
textiles and apparel ready for world market
Brazil could become a major player on the international
market, although threatened by surging competition from
China. Already taking advantage of a fully-integrated cotton
industry, Brazil is also investing in a huge polyester project
to develop its man-made fiber textile and apparel industries.
The country also has very large textile groups, that are
ready to make further progress on the global denim market.
TOP
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EU-China
Quota Fill Rates and Prices
Quota use for EU imports of Chinese apparel and textiles
are continuing to rise at high levels. The rates are increasing
at such a rhythm that, if continued, could lead to early
exhaustion of quotas. And, despite slowing down recently
for China's New Year, issued export licenses are already
over 10 per cent. In addition, exporters are also wary over
possible EU anti-dumping moves in the post-2007 period,
should prices continue to fall. TOP
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Korea's
polyester filament fabric exports rebound in US
South Korean dyed polyester filament fabric exports to the
US rebounded in late 2005 despite flagging sales to other
markets. Shipments to leading markets remained weak for
the year but increased slightly during November. Unit values
were higher than one year previous and seemingly have discouraged
overall sales performance. TOP
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China
accepts limiting apparel exports to Brazil
China has agreed to limit 60 per cent of its apparel and
textile exports to Brazil over the next three years. The
deal, currently being signed in China, is more comprehensive
than agreements last year concluded with the European Union
and the United States. Textile groups in Brazil have welcomed
the move hoped to alleviate pressure on domestic producers.
TOP
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US
Imports from China sharply rebound in January
US apparel and textile imports have commenced the year with
a bang in several categories. Increases in January have
risen as high as several thousand per cent in some product
ranges compared with the same month in 2005. However, there
is a fall in categories previously embargoed with shipments
significantly lower than 12 months ago. TOP
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US
Apparel Import Prices: China vs. India, Pakistan, Bangladesh,
Indonesia and Vietnam
Faced with significant price cuts and runaway shipments,
leading Asian suppliers to the US were unable to match China's
volume increases during 2005. Embargoes on certain Chinese
categories did not lead to countries such as Pakistan and
India substantially increasing shipments. TOP
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India's
Reliance raises polyester prices
Reflecting higher volatility these days, oil prices yesterday
plunged in a few minutes before partly recovering. The market
is still dominated by Iran nuclear issue while larger inventories
should actually depress prices. In India, Reliance Industries
raised all petrochemical prices, including polyester. TOP
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EU-China
Quota Fill Rates and Prices
Chinese apparel and textiles are slowly and gradually arriving
at European ports. Fill rates are still at low levels although
indications from China suggest this could rapidly change
in the coming weeks following China's return from New Year
celebrations. In addition, the EU has announced it is unlikely
to retain quotas after 2007 but could use other methods
to restrict cheap imports. TOP |
20
textile units ready to shift to Bangladesh
More than a dozen textile units have finally decided to
shift their production units to Bangladesh in an aggressive
move to cut their production cost, which they say is almost
half of that of Pakistan. Representatives of different textile
associations claimed about 20 units of bed linen, readymade
garments and knitwear had finalized plans to shift to Bangladesh
and it could take a month or two to set up or acquire any
of the already running units in Bangladesh.
The
plans were discussed with the Bangladeshi consul-general
in Karachi and also with senior officials of his country
during Prime Minister Khaleda Zia’s recent visit to
Pakistan; said a senior textile industrialist. Some of the
members have already visited Bangladesh individually and
in groups, and they have enough study to initiate production
there with initial investment. TOP |
Sops
offered to Pakistan affect textile sector adversely
Pakistan’s share of international apparel and clothing
markets has been adversely affected owing to the sops in
tangible and intangible forms like subsidiaries, low interest
loans and others offered to textile sector by neighboring
countries, China, India and Bangladesh.
Bangladesh
is fast threatening to overtake Pakistan by rapid progress
on the textile front through its achievements over the years.
The country has set up over 4.5 million spindles, about
50 percent that of Pakistan, and is producing almost all
the raw materials itself. China also offers several incentives
but a more tangible one would be an unrealistic exchange
rate triggering huge capital formation in the textile sector.
TOP |
Cotton
production likely to decline 15 percent
Cotton production is likely to decline around 15 percent
this season as phutti arrivals at ginning factories in February
fell by 13.74 percent when compared with the arrivals in
same period of last year. TOP
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PM
instructs for land allotment to textile industrialists
Prime Minister Shaukat Aziz has issued directives for early
handing over of the remaining 500 acres of land to the managing
board of Textile City at Karachi and has instructed the
board to start the procedure for land allotment to potential
industrialists without any delay. TOP |
EU
asked to cut tariffs for textile exports
Pakistan has asked the European Union (EU) to cut tariffs
for Pakistan's textile exports preferably during the financial
year 2005-06. TOP
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Rationalization
of duty drawbacks exposes vulnerability of textile sector
The rationalization of duty drawbacks in Pakistan last year
has, as a matter of fact, exposed vulnerability of the textile
sector further. TOP
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Textile
exporters look to move operations abroad
Pakistani textile exporters are looking to move their operations
to Bangladesh and Sri Lanka due to high manufacturing costs
in Pakistan. TOP
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Cotton
transactions take place despite static prices
Karachi Cotton Association (KCA) saw another day of price
stability as cotton price stayed at Rs 2525 per maund on
February 1. TOP |
Tie
up with France to promote garment industry
The garment industry of the country along with France has
decided to formalize collaboration and cooperation for exchange
of knowledge in skills and promotions of business, Secretary
Commerce Asif Shah said here on February 13. The agreement
was signed between Secretary Commerce Syed Asif Shah of
the country and Chairman of the French Federation for Ready
to Wear Women Garments Jean-Pierre Mocho, in the presence
of the major French textile and garment associations at
the residence of Pakistan's Ambassador in Paris.
The agreement will help in creating a program for the development
of School of Fashion Design into a modern international
fashion-marketing institute of the country, which could
support and prepare garments industry for the international
market, Asif further added. The foundation has been laid
by the agreement for institutional co-operation among the
technical institutions and garment industries of the country
and France, Commerce secretary further added. TOP |
