Entering fiscal 2009-10 export of spun yarn continued its unabated fall. During April 2009, exports declined 45% in terms of volume and 54% in terms of value in comparison with the numbers in the corresponding month a year ago. Nevertheless, some marginal improvement was seen in volumes compared to March numbers, particularly in manmade yarns. Only 42 million kgs of spun yarn was exported valued at US$104 million during April 2009 as against 76 million kgs and US$227 million last year. The overall unit price realization averaged US$2.50/kg as against US$2.98/kg last year, implying a 16% fall. The Indian Re has depreciated by almost 26% during the 12-month period.

About South Korea
Republic of Korea also known as South Korea is the fourth largest economy in Asia and the 15th largest in the world. It is also the second largest advanced economy in Asia, classified by the IMF and CIA. South Korea is one of the world's top ten exporters, and is a leader in technologically advanced goods such as electronics, automobiles, ships, machinery, petrochemicals and robotics, headed by Samsung, LG and Hyundai-Kia. It ranks 25th in Human Development Index rating in the world.

South Korea is strategically located at the crossroads of Northeast Asia. It is bordered by China to the west and Japan to the east, and neighbors North Korea to the north. It covers a total area of 100,032 square kilometers and has a population of almost 50 million, making it one of the most densely populated regions in the world.

Crude oil price gained in April 09 touching a 5-month high. The Europe Brent increased 7.9 % averaging US$50.1 per barrel during the month. Similarly, the WTI spot averaged US$49.56 per barrel, up 3.6 % while the Far East Asian crude averaged US$50.53 per barrel. However, oil prices were still 54% lower than last year and have lost US$90 a barrel from its all-time peak touched in July 2008.

Polyester Chain
Polyester prices continued to increase strongly in the Chinese local market due to high raw material cost and strong demand from downstream market. Increase in cotton yarn prices was also supporting the hike in polyester prices. 1.4D PSF prices increased by 15% averaging US$1.28 per kg, whereas, PFY averaged US$1.22 per kg, up 5% compared to a month ago level