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Yarn sales drops significantly
12
Jan '09
Yarn sales in the local market have decreased significantly, mainly due to the depreciation of the currency against the US dollar. Also, over production of yarn and the current financial crisis, which has created slower demand, has had an effect on the industry.

Yarn stocks at the mills are increasing, Indian and Pakistan yarn is now being offered cheaper than the current raw material cost.

According to BTMA statistics, a total of 43 new spinning mills came into production in 2008 with 944'744 spindles versus 28 mills in 2007 with 442'848 spindles.

At present, the country has a total of 341 spinning mills with an annual production capacity of 1.6 million tons of yarn.

The total investment from this sector is 4.0 billion Euros; the average consumption growth of yarn in the country is more than 21 percent per year. Given the challenging macroeconomic effects, it might be possible that the steady annual consumption growth which was seen during recent years will come to a halt in 2009.

Bayer CropScience

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