India's prices falling, while Chinese prices surging
US
import prices are falling this year from a large number of origins. Although
quotas were removed on its products, China was not able cutting its prices on
average. Indian prices significantly fell by contrast, thanks to sharp decline
in the rupee. Vietnam, Indonesia and Pakistan also reduced their prices while Bangladesh did not follow the same trend.
Under pressure from the economic recession, US apparel
import prices are falling this year in a large number of categories. In the
first two months of 2009, overall unit values declined a mere 0.48%, reflecting
sharp differences between origins.
While prices rose 6.9% from China on average, compared with
the same period last year, they were down 12% from India thanks to the fall in
the rupee. Unit values of Indonesian shipments did not change while apparel
import prices were rising 5% from Bangladesh. In the cotton apparel categories,
average unit prices were up 2%, manly due to a rise in production costs in China. Average price of Chinese cotton apparel surged 19% at US borders, although unit
values fell in categories, which were freed from quotas as of January 1st.
Indian prices declined more than 9% by contrast while
Vietnamese prices were reduced by 3.2%. Bangladeshi apparel prices rose 4.6% in
cotton categories, probably due to the strength of the taka in the past year.
Source:
AEPC
Weekly
