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Spread between cotton & PSF increases
19
Nov '09
According to customs statistics, China imported 119,000 tons of cotton in October, an increase of 16,000 tons or 16.1 percent from the previous month, and a growth of 22,000 tons or 23.3 percent year on year.

China totally imported 1.197 million tons of cotton from January to October, down 672,000 tons or 35.9 percent year on year and in the current cotton year, the country imported 221,000 tons, a reduction of 4000 tons, or 2 percent.

According to the National Bureau of Statistics, China's yarn output registered 2.176 million tons in October, up 16.4 percent year on year and up 2.4 percent over the previous month and touched 19.428 million tons from January to October, an increase of 11.2 percent year on year.

China's exports of textile and apparel reached US $14.65 billion in October, down 12.5 percent year on year, the decline expanded 5.5 percent from the previous month and total textile and garment exports realized $136.29 billion from January to October, down 11.3 percent year on year.

In October, cotton yarn prices rose, due to exceptional increase in raw cotton prices. The average price of 32s cotton carded yarn was 19,074 Yuan per ton, up 375 Yuan per ton or 2 percent from the previous month.

In the same month price of polyester staple fibre averaged at 8,512 Yuan per ton, up 261 Yuan per ton, or 3.2 percent from the previous month. The spread between standard grade cotton and polyester staple fiber was 5,203 Yuan per ton, an expansion of 426 Yuan per ton over the previous month.

Fibre2fashion News Desk - India

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