The lean season for textile exports entered its second month of July. Export of yarns declined 10% to 42 million kgs. Major decline was seen in polyester yarn exports wherein the volume fell 41% to mere 1.7 million kgs. Cotton yarn export too declined 10%, whereas, viscose yarn export volume increased by 30%. However, the average Unit price realization increased 10 cents to US$ 3.14/kg. The realization for cotton yarn was at US$ 3.14/kg and that for viscose yarn was US$ 3.32/kg.

Among major destinations, Brazil was the major importer followed by Bangladesh and Korea. While exports to Brazil and Korea increased it declined in case of Bangladesh declined. A total of 5.3 million kgs of yarn was exported to Brazil at an average price of US$ 2.89/kg. Bangladesh and Korea imported 3.7 million kgs and 3.6 million kgs from India at an average price of US$ 3.03/kg and US$ 3.02/kg respectively.

YnFx PriceWatch reports, Crude oil price continued its uptrend in July 08 as compared to June. The WTI spot price averaged at US$ 136.81/barrel, an increase of 2.43% as compared to a month ago. Likewise, the European Brent price averaged at US$ 135.18/barrel. In Asian markets, the crude oil price averaged at US$ 131.78 / barrel CFR. Naphtha prices declined 0.4% to US$ 1163 per ton as compared to June level.

The Polyester Chain
Polyester Chain prices showed mixed trend in the month of July 08. 1.4D/38m PSF prices have increased across all the markets. Taiwan and Korea prices have increased by 7.68% to US$ 1.59/kg FOB. Polyester chip price also increased by 3.45% to US$ 1500/ton FOB Taiwan/Korea. In Asian markets, PTA prices increased by 0.9% to US$ 1170 per ton FOB Korea, whereas, paraxylene prices declined by 0.16% US$ 1603 per ton. The other raw material for polyester, MEG prices averaged at US$ 1086 per ton FOB Korea and Taiwan, a decline of 6% as compared to previous month. Ethylene prices increased 3.9% to US$ 1632 per ton FOB Korea.