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Intelligence21 Mar 2018Textile Economics Monthly Review.
Prices19 Mar 2018According to provisional figures provided by India’s Office of Textile Commissioner, cloth production in India increased 3.2% in 2017 thanks to a boost in cloth production among Power Looms. Mills, Hosiers and Hand Looms all had an annual drop in cloth production in 2017, and therefore held back growth. When it comes to Indian cotton, 68% of expected cotton supply has arrived in the Indian market so far, with the bulk of it coming from the Central Zone. 6.15bn kg is expected to be produced this 2017/18 market year (starting from October) up 7.3% relative to 5.73bn kg produced in the previous market year. According to figures provided by the United States Department of Agriculture, projected cotton supply in the US for this 2017/18 market year (starting from August) was revised downwards due to a downward revision in domestic production. Projected cotton demand, however, was revised upwards due to strong demand for US cotton coming from the external market.
According to India’s Cotton Association of India, 68% of the country’s expected cotton output for this 2017/18 market year (starting in October) was delivered to the Indian market
Prices12 Mar 2018The US Department of Agriculture revised down India’s cotton supply in February for this 2017/18 market year due to a downward revision in domestic production offsetting an upward revision in imports. Demand was also revised down by a relatively faster pace. Filament yarn production in India increased 3.3% in 2017 relative to the previous year, driven by a boost in polyester filament yarn production. A year-on-year drop in polypropylene and nylon filament yarn production held back growth this year.
Pricesfree5 Mar 2018According to provisional figures provided by India’s Office of Textile Commissioner, spun yarn production in India managed to increase marginally by 0.6% in 2017 relative to the year before. The increase in spun yarn production was driven mainly by a boost in the production of blended and cotton yarn production, which managed to offset the year-on-year drop in 100% non-cotton yarn production. Manmade staple fibre production in India, on the other hand, dropped 3.1% year-on-year due mostly to a drop in polyester staple fibre production, which managed to offset an increase in viscose staple fibre production. Acrylic and polypropylene also contributed towards the drop in manmade fibre output in 2017. There was an upward revision in China’s cotton supply for this market year in February, driven by an upward revision in domestic production. Demand remained stable relative to projections made in the previous month as domestic consumption is expected to make up the bulk of total demand.
Prices26 Feb 2018Chinese New Year celebrations ended last week, with manmade fibre prices appreciating in terms of yuan relative to the week before. China’s staple fibre production (polyester, viscose, acrylic and polypropylene) in 2017 until December increased marginally as a year-on-year increased in viscose staple fibre production offsets a year-on-year drop in polyester and acrylic staple fibre production. Polypropylene also contributed towards the increase in staple fibre production this year. America’s cotton trade surplus was revised downwards by the United States Department of Agriculture as a result of a downward revision in exports. Despite this, international consumers are still expected to play a dominant role as a market for US cotton producers.
Prices19 Feb 2018China is currently enjoying its own New Year holiday, welcoming in the Year of the Dog. Recorded fibre and yarn prices remained stable relative to the week before in terms of yuan but dropped in terms of dollar due to the appreciation of the US dollar against the yuan week-on-week. In China, latest figures provided by China’s National Bureau of Statistics show YTD chemical fibre production dropped marginally by 0.5% year-on-year in 2017 up to December, while yarn production increased marginally by 0.3% year-on-year. Figures provided by the United States Department of Agriculture show Brazil’s projected cotton exports were revised upwards for this market year in January.Total supply and domestic production remained stable relative to projections made in the previous month. Figures provided by the USDA in January also show that African cotton production is expected to obtain an expanding surplus this market year, thanks to a larger increase in production relative to the increase in cotton consumption driven mostly by production activities in Egypt.
Prices12 Feb 2018China’s CCINDEX has dropped marginally in terms of yuan and has faced a downward trend since the end of 2017 calendar year. Figures provided by the USDA show an upward revision in China’s cotton production and domestic consumption, and a downward revision in production deficit. China’s cotton trade deficit was also revised downwards due to a downward revision in imports relative to projections made in the previous month. Cotton prices in India have remained stable relative to the week before. Despite the downward revision in cotton production in January relative to projections made in December, cotton production is still expected to rise year-on-year thanks to an increase in harvest area, according to data provided by the United States Department of Agriculture and is expected to play a dominant role in the increase of India’s total supply year-on-year. Demand is also expected to rise as well, due mostly to a boost in domestic demand. The dollar price of exported yarns dropped due to the week-on-week fall in the INR against the dollar. The trend in the value of the INR has been positive against the dollar and negative against the euro since the beginning of 2017. Cotton prices in Pakistan have faced a downward trend since the beginning of 2018 but are still positive year-on-year. Like India, domestic production in Pakistan is expected to rise relative to the previous year due to an increased harvest area. Despite this, prices shot up towards the end of the 2017 calendar year due to the devaluation of the rupee against the dollar. Pakistan is expected to have a trade deficit in cotton, with more than a fifth of cotton supply expected to come from imports.
