The second month of fiscal 2009-10 continued the past 12-month legacy of disappointment. During May 2009, exports declined 41% in terms of volume and 48% in terms of value in comparison with the numbers in the corresponding month a year ago. Nevertheless, it was a marginal improvement over April growth rates. Only 42 million kgs of spun yarn was exported valued at US$107 million during May 2009 as against 71 million kgs and US$207 million last year. The overall unit price realization averaged US$2.55/kg as against US$2.91/kg last year, implying a 12% fall. The Indian Re has depreciated by almost 24% during the 12-month period.

About Turkey
Turkey, officially known as the Republic of Turkey is located strategically with the potential to serve as a hub for the European Union, Africa, the West Asia and the region. It is a Eurasian country stretching across the Anatolian peninsula in western Asia and Thrace (Rumelia) in the Balkan region of southeastern Europe. Turkey is bordered by eight countries: Bulgaria to the northwest; Greece to the west; Georgia to the northeast; Armenia, Azerbaijan and Iran to the east; and Iraq and Syria to the southeast. The Mediterranean Sea and Cyprus are to the south; the Aegean Sea and Archipelago are to the west; and the Black Sea is to the north.

The population of Turkey stood at 71.5 million based on the 2008 Census. It has an average population density of 92 persons per km². The proportion of the population residing in urban areas is 70.5%. People within the 15–64 age group constitute 66.5% of the total population, the 0–14 age group corresponds 26.4% of the population, while 65 years and higher of age correspond to 7.1% of the total population.

Crude oil price gained handsomely in May 09. Europe Brent increased 14% to US$57.32 per barrel. While WTI spot price averaged US$59.29 per barrel, up 20% as compared to a previous month numbers. Far East Asian crude oil averaged US$ 57.46 per barrel, up 14%. Naphtha prices in Asia increased 8% averaging at US$491 per ton. However, as compared to last year, naphtha prices were still lower by 53%.

Polyester Chain
Polyester market showed uptrend in the month of May 2009. PSF prices rose in the last week of the month after successive declines in the past few weeks. 1.4D PSF averaged US$1.30 per kg in China.