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Yarn production magnifies in May
24
Jun '08
According to Customs Statistics, yarn output of China reached nearly 1.9 million tons in the month of May, showcasing a year-on-year increase of 12.8 percent. In the first five months of 2008, national yarn production came up to 8.34 million tons, a rise of 11.6 percent, however it experienced a fall of 9 percentage points.

From September 2007 to May 2008, total yarn output of the country reached almost 15.45 million tons, boosting by 11.7 percent, yet it fumbled 8.6 percentage points down.

The textile and garment exports generated revenue worth US $14.4 billion, last month, showing a yearly boost of 9.7 percent. From January to May 2008, China shipped textile and clothing worth around $66.2 billion, a year-on-year rise of 15.4 percent, but a drop of 0.2 percentage points.

From September 2007 to May 2008, China exported textile and apparel to various nations and accumulated nearly $128.4 billion of foreign currency. This shows a significant growth of 16.7 percent from the same time last year, but a decrease of 3.7 percentage points.

According to the industry insiders, decline in growth rate of textile production was mainly due to accelerated pace of yuan, rise in labor and raw material costs, lowered export tax rebate rates and slowdown in international economy. All these reasons have affected the textile industry negatively.

Last month, market average price of cotton yarn 32s was around 18,951 yuan per ton, a hike of 26 yuan or 0.1 percent from the previous month. The average price of polyester staple fibre was nearly 10,975 yuan per ton, observing a fall of 402 yuan or 3.5 percent from the previous month.

Fibre2fashion News Desk - China

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