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Import prices of cotton & yarn decline sharply in March

21
Mar '09
The Ministry of Industry and Trade reported that the import price of almost all raw materials meant for textile and garment production, declined sharply in the first half of March 2009, especially that of cotton and yarn.

During the period, prices of cotton continued their journey in moving southwards and stood between US $500-1,310 per ton. The import price from the US was $1.283 per ton, down 4.7 percent, when compared with the first fifteen days of February.

Cotton import prices from the US, in the first fifteen days in March were also down 20 percent year-on-year while prices of cotton shipped from UK fell by 17.1 percent, from the same time last year to, $1,310 per ton.

In the same trend, the price of polyester yarn also declined from all supplier countries. Polyester yarn imported from Indonesia fell by 4.7 percent y-o-y to $1.74 per kg and that from Malaysia by an awesome 34.2 percent to $1.18 per kg.

According to the local experts, the local textile and garment manufacturers are following a trend of importing the materials in small volumes, because the fear that, prices of almost all raw materials will keep falling in the coming time.

Fibre2fashion News Desk - Vietnam


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