COTTON YARN EXPORTS DECLINE IN APRIL, AVERAGE REALIZATIONS REMAIN STEADY
YnFx Yarn ExportWatch –
April
08
Yarn exports from the major ports of India were at US$55,973 ton declining by about 7% due to decline in Cotton and PV yarn exports. This was after a 19% jump in exports in March. The rupee again strengthened in April, moving below Rs 40/US dollar and thus shrinking margins.
43,428 tons of cotton yarn was exported in April, lower by 10% while PV yarn exports further declined 27% to 1,823 tons. Polyester yarn exports which had declined in March by 29% reversed its trend and increased 27%. Viscose yarn exports increased at a rate of 7% after jumping 43% last month and were at 3,348 tons. PC yarn exports increased 11% to 3,391 tons. Of the 111 tons of Dyed yarn exported, 45 were Viscose dyed and 39 were PV dyed.
Average realized price for cotton was steady at US$2.98/kg while the average price of viscose yarn declined 8 cents to US$3.78/kg. PC and Polyester yarn prices averaged at US$2.47/kg and US$2.71/kg. PV yarn average prices however increased 15 cents to US$3.11/kg.
COTTON PRICES IN THE MONTH OF APRIL WEAKENS AFTER RISING TO RECORD HIGHS
YnFx PriceWatch – April 08
Amid the food and energy crises, crude oil in April reached out to new records. Europe brent averaged at US$108.96/barrel increasing 5.6% from March's level. An ongoing investment boom in commodities along with speculation, a weakening dollar, supply disruptions in Nigeria and the North Sea, and a peak season for Crude oil demand have all compounded into high crude oil prices. Naphtha prices reaction has been mixed. Far East Naphtha price, averaged at US$951/ton increasing 7.8% over March prices.
Polyester Chain Ethylene, one of the major feed stocks in the polyester chain increased by 12.90% in April on the back of last months steep increase in paraxylene prices. In March, Paraxylene prices increased 12%.
