Rise in global yarn production seen by nearly 30 percent during the first quarter of 2017 while on a year-on-year basis it increased by 1.9 percent. The increase in global yarn output was mainly due to 31.8 percent increase in Asia.
In North and South America yarn production increased by 13 percent and 3.5 percent, respectively. Europe could not maintain its upward trend, instead showing a slight decline of 1.2 percent quarter-on-quarter in yarn production, according to the latest figures from the ITMF.
In Asia yarn output improved 2.1 percent year-on-year while in South America it declined by 4 percent and rose by 0.6 percent in North America. In Europe yarn output increased by 1.6 percent year-on-year, the ITMF report said.
On the other hand, global fabric production dropped by 15 percent in January- March 2017 compared to the previous three months, with the most significant decrease by almost 17 percent in Asia. The year-on-year global fabric output has improved by 1.9 percent during the three month period.
Asian production increased by 2.6 percent and South Americaâ€™s output improved by 2.2 percent. Europeâ€™s fabric output fell by 8.7 percent year-on-year.
Global yarn inventories decreased in Q1 2017 by 6.6 percent quarter-on-quarter with decrease of 6.3 percent in Asia, while in South America inventories dropped by 10 percent.
During the quarter, production of global yarn inventories continued to decrease with the annual percentage change of 1.9 percent. Asian yarn stocks increased by 2.8 percent compared to 2016, while European yarn stocks fell by 9.5 percent and South American stocks plunged by 41 percent.
Worldwide fabric stocks plummeted by 7.8 per cent quarter-on-quarter in the first quarter of this year mainly due to a sharp 34.7 percent drop in South American stocks while in North America it declined by 0.8 percent. But in Asia, the fabric stocks witnessed an increase by 0.6 percent.
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