Wool prices falling in A$ terms, up in US$ terms
Wool prices again declined this week in A$ terms, after the Australian currency again rose. The large part of poor-quality wools on offer is also behind the weakness in demand. Prices slightly rose in US$ terms, however. TOP |
PSF prices down in India, POY up
Polyester prices in India this month have witnessed a mixed trend. While prices of PSF are lower than in March, POY prices were slightly higher. Prices of fully drawn yarns and draw textured yarns have remained almost unchanged, as indicated by our series of tables below. TOP |
Cotton prices fall again in New York
New York cotton futures again took another heavy fall yesterday despite an improvement to weekly US sales figures. The commodities markets in general were under pressure reacting to China 's announcement that it is to raise the key interest rate. Beijing tries to cool its economy and this could slow down imports of raw materials. TOP |
China concerned over unused quotas
China has confirmed it will not change the way it distributes EU and US quotas despite concerns that 20 per cent will be unused in 2006. Many companies have complained that their quotas are too small to meet client demand while many smaller producers are priced out of bidding. The latest round of auctions has seen prices increase as interest from the EU and US grows. TOP |
US-China and US-Vietnam Quota Fill Rates
The projections for China 's use of US quotas indicate no exhaustion before the end of the year as weekly growth rates remain steady. But with the possibility of larger orders, these could increase in the coming months. Vietnam 's use on the other hand is high with eight categories facing early exhaustion. TOP |
Falling cotton prices halted by modest rally
Cotton futures in New York yesterday rallied moderately to halt the recent trend in declining prices. Lower values from the previous day's lows attracted steady buying interest although the market remains concerned by China 's continued absence from trading. In addition, the Cotlook A index yesterday fell to a seven-month low. TOP |
Polyester prices frozen by Chinese holidays
Polyester prices are now frozen in China , ahead of May Day holidays. Buyers are possibly anticipating a decline in prices after raw material costs began diving from their recent highs. Crude futures further plunged yesterday and today, although remaining far above last year's levels. TOP |
US Apparel Import Prices: CAFTA vs China and India
US apparel import prices in January and February were slightly higher than last year. In a comparative analysis of three suppliers to the US market, our tables below show that the CAFTA bloc of countries was slightly cheaper than China , while Indian unit values increased. However, volumes from CAFTA declined nearly 15 per cent. TOP |
Latest Regulations regarding Textile Trade
- US Trade Representative: Eligibility of US imports from Chad as part of the African Growth and Opportunity Act (AGOA).
- US Committee for the Implementation of Textile Agreements (CITA): Special procedures for considering public requests for import safeguard measures on textile and apparel from Central America , Morocco and Australia .
- US Customs and Border Protection: Stage 4 opening for quotas filled in 2005.
- Hong Kong Trade and Industry Department: Results of EU/US textile quota transfer.
- Chinese Ministry of Commerce: Details of EU/US quota distribution.
- Hong Kong Trade and Industry Department: Imposition of quotas in Brazil and Colombia on Chinese apparel and textile. Official results from China of second auction round for exports to EU and US. Current list of US anti-dumping measures on Chinese products.
- US Department of Agriculture (USDA): Termination of Step 2 cotton subsidy program.
- US Customs and Border Protection: Special cotton import announcement.
- US Trade Representative (USTR): Refunds of CAFTA duties.
- US Committee for the Implementation of Textile Agreements (CITA): NAFTA short supply request for public comment.
- US Customs and Border Protection: Revision to import limits for textiles from Nicaragua and retroactive CAFTA benefits.
- European Union: Starting of an anti-dumping investigation of synthetic polyester staple fibres from Malaysia and Taiwan .
- Chinese Ministry of Commerce: Announcing the result of the second round of bidding for EU/US textile export quotas.
- US Customs and Border Protection: Stage 3 opening of China categories 332/432/632 and 620. Also, AGOA and ATPDEA short supply designation and CAFTA import limits from Nicaragua of certain textile/apparel products.
- European Union: Notification of provisional anti-dumping duty on leather shoes from China and Vietnam .
- US Trade Representative (USTR): CAFTA import duty refunds.
- US President: Confirming the implementation of CAFTA with Honduras and Nicaragua .
- International Trade Administration: Manufacturing grants for certain worsted wool fabrics.
- Hong Kong Trade and Industry Department: Details of mainland China quantitative limits for US/EU export and extension of spandex anti-dumping investigation. Also, Colombia 's imposition of quotas on Chinese textile/apparel imports. TOP |
Crude oil futures sliding after Bush eased environmental requirements
Crude oil prices are now falling across the board. US president Bush yesterday eased new environmental requirements that were boosting gasoline prices in the United States . Petrochemical prices continue slightly falling while polyester prices are wisely waiting for May Day holidays in China . TOP |
Italian sourcing of men's and boys' denim jeans in January
Italian imports of men's and boys' denim jeans in January have slightly fallen with China largely absent from trading following EU quotas. Bangladesh was top supplier and its market share has risen to nearly one quarter. Former leading suppliers continue to struggle while several Asian producers make an impact. TOP |
India 's denim suffers from excess capacities
India 's denim producers are now confronted with excess supplies after capacities were largely expanded in the past year. With competition surging from China and lower global demand, prices plunged in India and operating rates were significantly lowered. The threat of a new denim crisis forces largest groups to adopt a new strategy, combining integration into denim clothing production and sales of more specialty products, our India Correspondent reports. TOP |
US Imports of Blue Denim Fabrics fell in January and February
US denim fabric imports continued declining this year, reflecting lower denim apparel production in the United States . Shipments from China incredibly surged, however, with Chinese denim now dominating the import market. Imports from Mexico continued disappearing while Italy and Turkey are now facing serious difficulties on the US market. India , Pakistan and Brazil are also being eliminated. TOP |
EU ready to reduce dumping duties on Pakistani bed linen
The European Union could imminently reduce anti-dumping duties on bed linen imports from Pakistan . Average rate of duties could be lowered from 13.10 down to 5.8 percent. A proposal by EU's Commission is still subject to approval by EU's 25 country members. The cut in duties could be effective by mid-May. TOP |
Indian cotton could be boosted as textile industry grows
Cotton prices in India were only slightly higher last week due to moderate mill and spinner demand. Although stocks are sufficient for short-term needs, rising cotton production and textile mill expansion are being reported in several Indian states. The government is hoping to see more Bt cotton used as a result. TOP |
US sourcing of denim jeans in Jan-Feb 2006
US imports of men's and women's cotton denim trousers have fallen 11 per cent in volume during the first two months of the year. Imports from China decreased heavily while Hong Kong and Macau shipments surged. Bangladesh , Vietnam and Nicaragua were other origins favored by US buyers. Prices were stable. TOP |
Uzbekistan wants to increase its cotton exports
More cotton exports have been forecast from Uzbekistan as its government concentrates on increasing shipments of the fibre to earn more foreign money. This is a change from last year's announcement that the Central Asian state would commence to convert more of its cotton into finished products. TOP |
China 's T-shirt exports double in several markets
China 's T-shirt exports grew in the first two months of the year, doubling in several markets including Korea . Shipments to the US and EU were significantly lower than last year and consequently sales growth has slowed down compared with 2005 as a whole. In addition, importers paid more after unit values increased. TOP |
Sri Lankan apparel exporters to fight harder for contracts
Sri Lanka 's apparel industry has been told to fight harder in order to compete with regional giants, India and China . Although being singled out as a dynamic sector of the country's industry by the Sri Lankan Central Bank, the Board of Investment has told firms to elevate themselves. An improving economy could however be threatened by renewed violence. TOP |
China to continue importing cotton for years
Cotton prices were mostly unchanged in the last seven days in China . Although lower import prices are depressing domestic quotations, the huge gap between consumption and production in the current season should limit any decline in prices, however. China will continue importing large quantities of cotton in the coming years, a top official last week predicted. TOP |
US implements CAFTA rules of origin modification
The United States and three Central American countries have officially implemented a modification of the Central American Free Trade Agreement (CAFTA). El Salvador , Nicaragua and Honduras have accepted to use US or regional pocket fabrics in their apparel in return for a mix of import duty refunds and a change to the rules of origin on certain products. TOP |
Turkey 's textiles and apparel could recover in coming months
Turkey 's textile and clothing industries less dramatically declined in March, as a first sign of a possible recovery in the coming months. EU's quotas on imports from China added to a cut in Turkish VAT and a fall in the lira could boost textile and apparel exports in the near future. TOP |
Hong Kong 's February clothing re-exports significantly fall
Hong Kong clothing re-exports in February significantly dropped from one year earlier. There was a fall to all leading suppliers although shipments to mainland China were considerably higher. There was also 7 per cent reduction in prices paid by the top importers. TOP |
US Imports of Woven Shirts (340/640): Bangladesh increases market share
US imports of cotton and synthetic woven shirts (340/640) in January decreased overall as several suppliers, including China , shipped less. Bangladesh was leading supplier and saw its market share rise to 23 per cent. Together with Indonesia , Bangladesh reduced prices by 11 per cent. TOP |
Honduras and Nicaragua join El Salvador in CAFTA
The US government Saturday confirmed Honduras and Nicaragua have now joined CAFTA, the Central American Free Trade Agreement. This eases previous concerns that the 1 April target date would be pushed back to July. The US also confirms it is seeking to solve confusion over duty free access for CAFTA products containing inputs from other countries awaiting ratification. TOP |
Hopes of US duty-free access fading for Asian countries
The road to US duy-free access could be longer than expected for a series of emerging countries. While Pakistan could be refused preferential treatment for its textiles and apparel, chances of duty-free access for Bangladesh , Sri Lanka or Cambodia are progressively fading. With US mid-term elections looming and a new top trade negotiator in Washington , ongoing negotiations may be further delayed while implementation of already signed deals could also be longer than expected. TOP |
Textile industry witnesses satisfactory growth
Production of five out of seven sub-sectors of the Large Scale Manufacturing (LSM) sector went through slowdown in growth, and only two sectors managed to post marginal increase during the first six months of the current fiscal year. TOP |
Garments workers' training programme to be launched
The ministry of textile is planning to launch garments workers' training programme in garment factories. Syed Masood Alam Rizvi, Secretary Ministry of Textile,said here on April 26. TOP |
Textile entrepreneurs plan spinning units in Mauritius
The textile entrepreneurs in joint ventures are planning to setup spinning units in Mauritius to assist in development of textile industry. TOP |
Romania interested for joint venture in Textile sector
Romania is interested in joint venture with Pakistan in textile. This was disclosed by the members of Romanian trade delegation. TOP |
Pakistan switching over to industrial economy from agricultural
Pakistan is switching over to industrial economy from agricultural economy; for this the country needs to stress on the use of innovative technologies; Pakistan will focus on production of high-value added goods. TOP |
IGATEX Pakistan 2006 opens in Karachi
The International textile machinery exhibition IGATEX opened at Karachi Expo Centre on April 26. Over 500 exhibitors from 30 countries participated IGATEX exhibition. It is the largest exhibition of textile and garment machinery in Pakistan . IGATEX 2006 exhibition is an interesting meeting point for western textile machinery manufacturers and Pakistani textile operators.
IGATEX, is the prestigious International Textile, Garment Machinery and Accessories Exhibition in South Asia . A large number of trade delegates from all parts of the world converged on the exhibition. IGATEX Pakistan has gained massive repute on an international scale within four years and is widely recognized as the preferred showcase of the best in both textile and garment sectors.
Designed to be a truly international one-stop sourcing center, IGATEX Pakistan 2006 targets the all important local and international buyers from Pakistan , South Asian and Middle Eastern markets. Federal Minister for Textile Mushtaq Cheema praised the participation of all countries, particularly China and Turkey , which have remarkable presence in the exhibition halls at the IGATEX 2006.
Italian machines are well-known and much appreciated. In 2005 Pakistan had imported around 73 million worth of Italian textile machinery. Around 15 Italian textile machinery manufacturers have confirmed their participation in IGATEX as Italians are much interested to reap the benefit of the unique opportunity offered by Pakistan 's textile sector for its machinery exports. TOP |
Govt to provide free premises to foreign investors at garment cities
Federal Textiles Minister has announced that government would provide free premises to the foreign investors at proposed garment cities to start their business in ladies garments. This he said while talking to newsmen after speaking at the inauguration ceremony of IGATEX Pakistan 2006, the 5th International Garment, Textile & Leather Machinery and Accessories Exhibition at Karachi Expo Centre on April 25.
The minister said that premises would be given to the foreign investors for the period of five years, in the proposed garment cities to be established in Karachi , Lahore and Faisalabad . He said this would include land, infrastructure and other required facilities. Government has taken this initiative to attract foreign investors, he added. TOP |
Garment export target in risk
The target of garment exports in the current fiscal ending June 30 is in jeopardy due to the tough competition in the international market and increased costs in the country. Pakistan hopes to export garments worth over $3,000 million in the current fiscal; experts said here on April 24.
Exports of readymade garments currently stand at $1,993 million. Exporters have to fill the gap of $1,259 million in about three months which seems quite difficult. Though the exports ratio has increased in terms of value, its share in the country's total exports has shrunk to 7.7 percent from last year's 10 percent. Although exports of readymade garment grew 14 percent in July 2005-February 2006, the country's share in the international market has been declining.
The consistent efforts of the industry, coupled with assistance from the government, had resulted in market diversification and exploration of new trade avenues. Since the European Union (EU) countries are considered among the biggest markets, Pakistan 's exporters have been concentrating on them and striving to get further trade access in the region.
About 800 members of the Pakistan Readymade Garments Manufacturers and Exporters Association are engaged in exporting garments mainly to EU countries and also to the United States , Canada , the United Arab Emirates (UAE) and Japan . Pakistan is ranked 21st in the US market with a 1.7 percent share against India 's eight place and 3.4 percent share. Pakistan is 11th in the EU market with a 1.1 percent share against India 's eighth with a 3.4 percent share. TOP |
Participation in Federal Trade Fair will improve trade relations
Pakistan 's participation in the 26th Federal Trade Fair for home textiles and garments, held in Moscow may improve the trade relations between the two countries; Mustafa Kamal Kazi, ambassador of Pakistan in Russian Federation said here on April 19.
According to a press statement, the exporters of Pakistan and Russia could help improve the trade volume between the two countries. Mr. Kazi exchanged views with the Pakistani exporters regarding removal of trade barriers between the two countries. Mr. Kazi advised to the exporters to form a consortium for establishing a ware house in Moscow . He principally agreed to provide it subsidy in the next September fair 2006.
Pakistani textile exporters and manufacturers were present in large numbers in the fair. About 30 countries from South East Asia, East Europe , Baltic and the CIS states participated in the fair where varieties of home textile and garments products aimed at promoting economic ties at bilateral and regional levels were displayed. He is hopeful that this would help Pakistan to expand its business contacts with Russia and the East European states. TOP |
Govt to take steps to help textile industry
The government will continue to take all necessary steps to help the textile industry improve its performance as the sector accounts for 60% of the country's exports and 38% of its manufacturing; Prime Minister Shaukat Aziz said here on April 17.
Various initiatives taken by the Textile Industry Ministry to increase the export of textile and improve the productivity and competitiveness of the textile industry were discussed at a high-level meeting chaired by the Prime Minister.
The Prime Minister said that due to the substantial investment in the textile industry in the last five years it has registered significant improvement in upgrading and modernizing it. Shaukat Aziz appreciated the Clean Cotton Project launched by the textile industry ministry. He however emphasized the need to associate the provincial governments with it to create ownership so as to benefit cotton growers. He said the project can help facilitate value addition in the textile sector leading to increased foreign exchange earnings for the country.
The meeting also discussed at length various proposals put forward by the Textile Ministry for inclusion in the upcoming budget. The meeting was also attended by Dr. Salman Shah Advisor to PM on Finance, Mr. Abdullah Yousuf Chairman CBR, Syed Masood Alam Rizvi Secretary Textile Industry and senior officials. TOP |
FTA may affect textile exports: ADB
The addition of ten east European countries in the EU and free trade agreements (FTA) between the US and other countries involved in clothing exports may affect the gains from clothing exports in the country, officials from Asian Development Bank (ADB) said here on April 14.
Further sources said that due to imposition of antidumping duties on imports of bed linen and losing preferential access to the EU under Generalized System of Preferences (GSP), textile and clothing exports from the country to the EU is at a disadvantage. The exports from the country were also on disadvantage side as Bangladesh , Sri Lanka , and Vietnam continue to enjoy GSP concession. However EU's decision to reduce antidumping duty will help in raising exports of bed linen from the country. TOP |
Cotton association to export cotton directly
The disappointing role of Trading Corporation of Pakistan (TCP) has forced the Pakistan Cotton Ginners Association (PCGA) to export cotton directly through an export cell which will sell 2-3 lakh bales at initial stage, PCGA President Ch Azam Waraich said here on April 13.
The president further said that local buyers would not be eligible to purchase the stock at any rate as ginners have done their best to provide relief to the growers. The ginners purchased Phuthi at Rs 1,150 per maund from the growers when its support price was Rs 1,000. Further ginners timely made payments to the growers to save them from any embarrassment, but the TCP announced tenders when the ginners had a stock of 1.5 million to 1.6 million bales as cotton was being sold at Rs 2,600 in the local market on 1st March when all of sudden the TCP sought tenders on 16th March that upset the market prices. TOP |
