October 2009 recorded the most emphatic growth in spun yarn exports ever since the Global crisis set in 2008. However, this was much to the expectations given the low base of October 2008. Nevertheless, the positive aspect is that the almost all major segment of spun yarns recorded growth, excepting the few non-seasonal ones. During the month, export was valued at Rs.661 crore, up 12% from last year. The INR has appreciated against the US$ by about 1.4% during the same period. In terms of US$, the value increased 13% and volumes were up 24%. About 51 million kgs of spun yarn was exported valued at US$141 million in October 2009 as against 41 million kgs and US$125 million last year. The overall unit price realization averaged US$2.78/kg as against US$3.04/kg last year, implying a 9% fall. This has been a negative aspect of the overall trend.
The growth in spun yarn exports has even beaten the overall foreign trade trend. India's total exports fell 6.6% in October extending the decline for the 13th month in a row, but the downward trend has slowed down amid some revival in demand in overseas markets. According to official foreign trade data, exports in October were valued at US$13.19 billion, down from US$14.13 billion during October 2008. Imports too continued to fall at US$21.9 billion, down 15% in the comparable period. However, the markets attribute the uptick to revival of some demand in the overseas markets and hoped that the forthcoming Christmas festivities would further push Indian exports. Moreover, the US and other major markets are coming out of the recession and would help over exports to show a positive trend from January 2010.
PORTUGAL’S PROFILE AND TEXTILE AND APPAREL INDUSTRY
YnFx Yarn ExportWatch – Oct 09
ABOUT PORTUGAL
Portugal, officially the Portuguese Republic is located in southwestern Europe on the Iberian Peninsula. Portugal is the westernmost country of mainland Europe and is bordered by the Atlantic Ocean to the west and south and by Spain to the north and east. The Atlantic archipelagos of the Azores and Madeira are also part of Portugal.
Portugal is a developed country and has achieved the world's 19th highest quality-of-life, ac-cording to The Economist Intelligence Unit. It is the 14th most peaceful and the 13th most globalized country in the world. It is a member of the European Union (joined the then EEC in 1986, leaving the EFTA where it was a founding member in 1960) and the United Nations; as well as a founding member of the Latin Union, the Organization of Ibero-American States, OECD, NATO, Community of Portuguese Language Countries, the European Union's Eurozone, and also a Schengen state.
Crude prices spiked to a 12-month high in October supported by a news of economic recovery and healthy rally in stock markets. However, string dollar kept the rise in check as oil is pegged in US$. The US Futures averaged US$76.37 a barrel, gaining 6% from its September numbers. Europe Brent too increased 5% to US$73.56 per barrel. In Asia, prices averaged US$73.37 per barrel while naphtha prices averaged US$587.25 per ton CFR, up 5% compared to September numbers. India's crude oil import bill fell by 41% US$31.6 billion in April-September this year as international rates declined from a record peak. Asia's third-largest oil consumer imported 69.6 million tons of oil during the first six months of 2009-10 as against 64.84 million tons in the corresponding period of last year.
Polyester Chain Increased supplies from Middle East particularly, Saudi Arabia and Iraq sobered ethylene values in SE Asian markets, thus completely offsetting the positive influence of rising naphtha prices rise. Ethylene prices declined 4% to US$840 per ton FOB Korea. Paraxylene prices spurted US$15-20 a ton across markets in Asia and Europe. Paraxylene prices averaged US$902 per ton FOB Korea, up 2% as compared to previous month. PTA prices averaged US$836 per ton FOB Korea. As compared to a year ago level, prices have increased 13%. MEG prices rose a bit averaging US$708 per ton FOB Korea / Taiwan. Polyester chip prices increased marginally averaging US$1040 per ton FOB Taiwan /Korea.
