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Import prices of cotton & polyester plunge sharply
12
Feb '09
In the period Jan 30 to Feb 10, the import price of cotton continued moving southwards from all markets that supply cotton to Vietnam as a result of a slowdown in demand, informed an official source from MOIT.

Prices of cotton quoted from the US, registered the biggest drop and in the process fell by 12.1 percent to stand at US$1,447 per ton in comparison to the same period of the previous month.

Prices quoted by cotton suppliers from Mozambique also plunged by 9.5 percent to $1,340 per ton while cotton imported from Brazil dropped a nominal 1.2 percent to touch $1,591 per ton.

Moving on the same trends, import price of polyester in the week ended Feb 10, also descended sharply in almost all markets. Polyester imported from Indonesia was quoted at $1.52 per kg, down 8.4 percent compared to same period of Jan '09 and a fall of 28.5 percent when corresponded with the same month in 2008.

However, prices quoted by Korean polyester manufacturers witnessed a increase of 14 percent at $4.46 per kg, but at the same time import prices quoted by Malaysian producers dropped by 5.6 percent.

Fibre2fashion News Desk - Vietnam

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