Korean cotton imports rise

06 May '06

3 min read

Korea's total cotton imports for marketing year (MY) 2006/07 are forecast at 285,638 metric tons (mt), a 13,601-mt increase from MY 2005/06.

The positive import sediment can be attributed to 118,000 new spindles expected to come on-line in January 2007 providing a boost to Korea's declining cotton processing infrastructure.

The US share of the MY 2006/07 Korean cotton import market is expected to fluctuate between 40 percent and 46 percent owing to relative price competitiveness and consistent quality.

I. Situation and Outlook

Korea's total cotton imports for marketing year (MY) 2006/07 are forecast at 285,638 metric tons (mt), a 13,601-mt increase from MY 2005/06.

The positive import sediment can be attributed to 118,000 new spindles expected to come on-line in January 2007 providing a boost to Korea's declining cotton processing infrastructure.

The US share of the MY 2006/07 Korean cotton import market is expected to fluctuate between 40 percent and 46 percent owing to relative price competitiveness and consistent quality.

In CY 2006, cotton yarn imports are expected to increase to 191,000 mt to supplement reduced domestic cotton yarn production. With increasing apparel consumption the overall Korean domestic textile market will see slight gains.

In calendar year (CY) 2006, Korea's textile exports are expected to decrease in response to high oil prices, and the appreciation of the Korean won against the US dollar while Chinese textile exports continue to challenge Korean exports globally.

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