The U.S. House took a major step in boosting employment
opportunities in earthquake-ravaged Haiti, passing legislation
to extend the country's trade preferences. Lawmakers in
textile-rich states said the bill could burden the domestic
textile industry. Most of the apparel produced in Haiti is
made from yarn from American textile companies, but that the
bill would change that and could allow Third World countries
to ship ``almost-finished'' products to Haiti, which in turn
could be sent to the United States duty-free.
Asia, the largest consumer of fibres in 2008, having
accounted for 73.2% of global usage, while Africa was ranked
seventh and Oceania and Central America trailing with 1.5% and
0.1% respectively, said in a report of Global and Regional
Trends in Textile Fibre Consumption, edition 2010.
India's cotton production and consumption have also been
forecast higher compared with last year, though there are no
changes from the earlier estimates. Indian production is now
estimated to be 5.19 tonnes (305 lakh bales) against last
year's 4.93 tonnes (290 lakh bales). Consumption is forecast
to rise to 7.54 tonnes (443.35 lakh bales) from last year's
7.21 tonnes (423.14 lakh bales).
Turkey's exports are expected to reach some US $111
billion in 2010, said Mehmet Buyukeksi, Chairperson of the
Turkish Exporters' Assembly (TIM). Turkey's major exports
items are apparel and clothing accessories, iron and steel,
pearls and precious stones, tobacco, mineral fuels and
cotton. The major export partners of the country are Germany,
the United States, Britain, France and Italy. Buyukeksi also
underlined the importance of the African, Latin American and
Far Eastern markets.
Bangladesh Knitwear Manufacturers and Exporters
Association (BKMEA) awarded 10 labour-friendly garment
factories. The winners are Aboni Knitwear, Iris Fabrics,
Interstoff Apparels, Grameen Knitwear, Ragadi Textile,
Viyellatex, Knit Concern, Fakir Apparels, Four H Lingerie and
Benetex Industries.
The global man-made fibre trade accounts for 60% of total
trade in textiles. India’s share in exports was below 3% at Rs.
15,767 crore ($3.42 billion) in 2008-09. Man-made fibre
exports have been growing at a healthy 12% annually over the
last five years in spite of global slowdown.
In recent years, China has overtaken the United States to
become Asean’s third-largest trading partner after Japan and
the European Union. The overall trade balance has shifted
slightly in China’s favour, although there are significant
differences among Southeast Asian countries’ trade balances,
said Thomas Kaegi, Head of Macroeconomic Research for the
Asia-Pacific region at UBS Wealth Management.
With domestic off take rising strongly in China, cotton
consumption is likely to rebound strongly next year. Cotton
Outlook, in its projections, sees Chinese consumption rising
to 9.65 million tonnes (567.74 lakh bales of 170 kg each) from
last year's 8.5 tonnes (500 lakh bales) and the previous
estimate of 529.41 lakh bales made in November.
İstanbul Textile and Raw Materials Exporters’ Union (İTHİB)
Chairman İsmail Gülle said they expect the textile sector’s
exports to increase by about 15% in 2010, indicating deferred
demand and depleted stocks as the driving forces behind this
rise. The textile sector might achieve $6 billion to $6.5
billion in exports by the end of 2010 by exporting $500
million in goods per month.
Overall, global cotton production is now projected to rise
to 22.36 tonnes (1,315.05 lakh bales) against the initial
estimate of 22.06 tonnes (1,297.52 lakh bales). Last year, the
production was 23.45 tonnes (1,379.47 lakh bales). World
consumption is now estimated to rise to nearly 24 tonnes
(1,411.64 lakh bales) from earlier estimates of 23.29 tonnes
(1,370.11 lakh bales) and last year's 22.42 tonnes (1,318.52
lakh bales).
Asean and China have gradually reduced many tariffs.
However, under the free-trade agreement — which was signed in
2002 — China, Indonesia, Thailand, the Philippines, Malaysia,
Singapore and Brunei will have to remove almost all tariffs in
2010. Asean’s newest members — Cambodia, Laos, Vietnam and
Myanmar — will gradually reduce tariffs in coming years and
must eliminate them entirely by 2015.
Major share of increase in global cotton production next
cotton season would go USA (31.44%) India 5.4%, Uzbekistan
11.11%, Turkey 31.59%, Brazil 16%, China 7.7%, and Egypt 23%.
In view of over 10% increase in world cotton production, world
cotton prices are likely to rule between 65-70 cents next
season.
Textile and garment sector of Vietnam has targeted to
generate over US $10 billion through its exports in 2010,
around 12% more than that of current year, said Mr. Le Quoc
An, Chairman of the Vietnam Garment and Textile Group (Vinatex).
The industry entrepreneurs are optimistic about achieving this
target as it has witnessed demand surge from two of its major
markets, US and EU.
In the 2010 budget, government of Indonesia has allocated
Rp 9 billion for modernization of old textile and leather
machineries in Small and Medium Enterprises (SMEs).
Modernization of machineries in these industries comes at a
time when there is tough competition in the local market due
to entry of cheaper textile and leather products from foreign
countries. This program was to help modernize at least 50 %of
the plants by the year 2014.
