Textile Cotton Fabric Exporter

4 November 2008 - Polyester prices further fell in the last seven days in China. Prices lost about 25% on the international market in October. Signs are however emerging since the start of the week in China of a recovery in demand for PTA and MEG which could announce an expected rebound in prices. The polyester pipeline may also suffer from general deflation in the coming period with production being further reduced in line with a new fall in prices.

4 November 2008 - US cotton trouser imports from China should be boosted by the removal of quotas effective from January 1st. Mexico-located plants could be the main victims of the end of quantitative restrictions after Chinese suppliers shifted to the higher end of the US import market in the last three years. Exporters from Bangladesh, Vietnam and Cambodia would not be seriously affected by the definitive end of quotas, after successfully reducing their prices and therefore gaining shares in the past years, as reflected by our statistical report.

3 November 2008 - Cotton prices further fell in the past week in New York, as the dollar's rebound triggered a new decline on commodity markets. US futures are now nearing four-year lows. There is still room for a further fall in physical prices if considering our 10-year graph. Prices plummeted in the last week in China while rebounding in Pakistan and staying unchanged in India.

3 November 2008 - Polyester intermediate prices further plunged in the last seven days in Asia, reflecting a lack of demand and falling raw material costs. A rebound in crude oil futures in New York however resulted in some pause in the decline of PTA and MEG prices by the end of last week. Major suppliers were forced announcing downward revisions for November contract prices. Spot market prices already decreased to much lower levels, however.

31 October 2008 - Pakistan's textile and clothing exporters surprisingly rose in September thanks to strong sales of cotton fabrics, knit apparel and towels. Exports of cotton yarns, woven clothing and bed linen remained relatively weak, however. The country is confronted with a severe energy crisis resulting in power shortages and surging production costs. The sharp decline in the rupee is however offering some more price competitiveness to domestic exporters, at least in the short term.