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Chinese textile bandwagon to fuel yarn exports
23 Feb '10
2 min read
Pakistani yarn exports will keep rising as China is reducing its yarn production due to high costs. As per textile experts, yarn exports will see further increase in coming years.
Traditionally, as a country's per capita income grows above $2,000, those countries seek cheaper cotton yarn sources, since labour cost affects the production of low value-added products. China's per capita income is already above $3,000 and is the largest yarn producer and consumer in the world.
With more than 100 million spindles, China's yarn production is over two fold than that of India, which occupies second place in the list of largest yarn producers. This year, China has stopped operating 12 million spindles, which is equivalent to the total number of spindles installed in Pakistan. Out of these 12 million in Pakistan, only 10.5 million are working.
Apart from reducing the number of operational spindles, Chinese government has decided to prefer sowing food grains against cotton. So, the country is turning area under cotton into food grains and is becoming world's largest cotton importer.
Following the increase in yarn exports, this year, clothing industry of Pakistan had to pay international price for cotton yarn, on account of which the government imposed quota on yarn exports. However, the prices of yarn witnessed further rise as the spinners reduced production instead of selling it at low prices.
Traditionally, as a country's per capita income grows above $2,000, those countries seek cheaper cotton yarn sources, since labour cost affects the production of low value-added products. China's per capita income is already above $3,000 and is the largest yarn producer and consumer in the world.
With more than 100 million spindles, China's yarn production is over two fold than that of India, which occupies second place in the list of largest yarn producers. This year, China has stopped operating 12 million spindles, which is equivalent to the total number of spindles installed in Pakistan. Out of these 12 million in Pakistan, only 10.5 million are working.
Apart from reducing the number of operational spindles, Chinese government has decided to prefer sowing food grains against cotton. So, the country is turning area under cotton into food grains and is becoming world's largest cotton importer.
Following the increase in yarn exports, this year, clothing industry of Pakistan had to pay international price for cotton yarn, on account of which the government imposed quota on yarn exports. However, the prices of yarn witnessed further rise as the spinners reduced production instead of selling it at low prices.
Fibre2fashion News Desk - India
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