v     Garments account for 80% of overall exports by Bangladesh - US$9.5 billion out of a total US$12.18 billion in export earnings in the financial year to June 2007, with forecasts that it will cross the US$11 billion mark this year. The Bangladesh Garment Manufacturers and Exporters Association is expecting to double apparel exports to US$18 billion by 2010.

v     A substantial share of the fabrics produced in China is being converted into garments in Vietnam, which is therefore a major exporter to the US with exports of $4.6 billion in 2007. But analysts believe these indirect exports of China would also decline in the coming months, leaving a larger part of the US market for countries like India to capture.

v     In 2007, China launched a series of policies, including subsidy to high quality cotton seed and policy insurance. According to the "Eleventh Five-Year Plan" (2006-2010), China plans to pick up the construction of high-quality cotton production base in Xinjiang Uygur Autonomous Region by investing CNY750 million, all of which have greatly enhanced the enthusiasm of farmers to plant cotton.

v     Viscose prices are heavily falling in China, as a result of a low level in demand and a new reduction in raw material costs. Filament prices are especially under pressure these days as inventories are surging in absence of demand. Staple fiber prices are still 20% above their level in the same period last year.

v     India produces about 28 crores of mulberry silkworm eggs per year. This production is met by three agencies namely, Private Licensed Silkworm Seed Producers (LSPs), State Departments of Sericulture (DOSS) and the National Silkworm Seed organisation grainages under the Central Silk Board (CSB). The share of these agencies during 2006-07 was 74.0 %, 15.4 o and 10.6 respectively.

v     Preliminary data suggests that world textile fiber consumption increased by 4.8% to a record 67.7 million tonnes in 2007. World cotton consumption expanded by 3.8% to a record 26.9 million tonnes in 2007, marking the ninth year of continuous expansion but the second year of a decreasing rate of growth.

v     Wool prices are now more obviously falling in Australia, mainly due to a lack of demand from China while available quantities are also much larger than previously anticipated. A rising Australian dollar is putting downward pressure on prices. Beijing is expected again closing down facilities around Lake Tai in Jiangsu and Zhejiang, therefore depressing demand from China's wool factories.

v     Bangladeshi apparel exporters set an export target for local RMG worth $11 billion in 2008, but, the attainment of this target depends on the pressure of gas at the industry level, said President of Bangladesh Textile Mills Association (BTMA) Abdul Hai Sarker.He said total investment in the country's Primary Textile Sector (PTS) is $5.25 billion, while the number of textile factories is more than 4,000.

v     According to a recent survey by China Cotton Textile Association across 17 provinces, nearly half of the textile companies surveyed want to quit and venture into other businesses and nearly 45% have started diverting export goods to the domestic market.

v     U.S. apparel imports declined in major categories in the first quarter of 2008. China lost market shares in nearly all categories under review while imports from Vietnam were surging at the same time. Bangladesh lost ground with woven shirts while making strong progress with trousers. Central America is back on the underwear market with also better results in man-made fiber categories.

v     EU's imports of polyester staple fibers steadily increased in the last three years. Shipments from Taiwan dramatically fell in 2007 after antidumping duties had previously been set on Taiwanese fibers. South Korea benefited from a sharp rebound as a result while PSF imports were surging from India.

v     U.S. apparel import prices generally raised in a large number of categories in the first two months of 2008, especially for wool and manmade fiber products. China further raised its prices in most important categories like shirts and trousers, leaving the lower end of the market to a surging Vietnam. India is more directly confronted with China although offering lower prices.

v     U.S. imports of cotton terry towels further rose in the last year with India surprisingly taking additional shares of the market. The final domination of a surging China now looks less evident, even with a removal of the U.S. quota at the end of the year. Imports from Pakistan continued slowly rising on the lower end of the market.

v     Spun yarn prices are falling across the board in China, in line with a lack of demand from downward textile and clothing industries. Prices were down about 200-600 yuan per ton depending on fibers. Spun viscose yarn prices were sharply down while cotton and polyester yarn prices less significantly fell. Yarn prices may further decrease in the near term.

v     Polyester intermediate prices were more stable in the last week of April in Asia. A new surge in crude oil prices to fresh record levels offered some support to spot markets for PX, PTA and MEG. May contract prices for paraxylene and glycol were also nominated at higher levels than in the past month. Demand from textile industry in China is still depressed by yuan's appreciation, however, pessimism is again dominating the polyester chain.