Spun yarn exports accelerated in December 2009, reflecting a revival in global economy. The most positive aspect of December numbers is the positive increase in unit value realization after several months of decline. And this happened despite stronger INR against the US$. During the month, exports aggregated Rs.695 crore, up 39% from last year. With INR appreciating 5.6% during the same period the value in terms of US$ increased 47% and volumes up 45%. About 53 million kgs of spun yarn was exported valued at US$149 million in December 2009 as against 36 million kgs and US$101 million last year. The overall unit price realization averaged US$2.82/kg as against US$2.9/kg last year, implying an increase of 1.3%. It was also higher than the realisation a month ago by about US cents 11 per kg on an average.
The growth in spun yarn exports was in line with overall foreign trade trend. India's shipments increased over 9% in December, marking a positive growth for the second month in a row
Sri Lanka, in ancient times was known by a variety of names: ancient Greek geographers called it Taprobane and Arabs referred to it as Serendib. Ceilão was the name given to Sri Lanka by the Portuguese when they arrived in 1505, which was transliterated into English as Ceylon. As a British colony, the island was known as Ceylon, and achieved independence under the name Dominion of Ceylon in 1948. In 1972, the official name of the country was changed to "Free, Sovereign and Independent Republic of Sri Lanka”. In 1978 it was changed to "Democratic So-cialist Republic of Sri Lanka".
Year 2008 began on a very pessimistic note with prices starting at lower points for most commodities and with gloomy Global economic scenario. Oil prices were at below US$40 a barrel. The US$ was also weak against major currencies. However, as event unfolded and financial packages and plans steered the way for faster economic recovery, the year ended on an optimistic note. December was one of the best months in 2009 for most economies and brisk demand supported prices. Crude prices were inching towards US$80 a barrel, almost doubling from where it entered the year.
Crude oil prices doubles in 2009 The USA Futures averaged US$74.92 per barrel in December 2009, up 90% from the corresponding month of 2008, However, it was marginally lower than November average. Europe Brent averaged US$74.76 per barrel. In Asia, crude oil prices averaged at US$74.21 per barrel, up 80% from last year. Naphtha prices too gained handsomely in line with crude prices and increasing demand from derivatives.
