Yarn exports increased 22% in 11 months: textile sector
KARACHI: The Value-added Textile Sector has disputed the claims of spinners that 20 percent of spinning units have closed down saying that the exports of yarn during the period of July-2009 to May 2010 is to the tune of 588.3 million tonnes as compared to 11 months period last year, showing an increase of 22 percent.
Coordinator Value-added Textile Forum, M. Jawed Bilwani in a statement on Monday said that export of yarn has increased by 22 percent during the said period but spinners are complaining for no reason at all. He said it is an irony that in Pakistan, production of spinners is 20 percent less than the previous year’s while export of yarn is increasing.
Jawed Bilwani revealed that according to a business report: The Chronicle with Bloomberg of 19th May, 2010 “it has been reported that among other crops, China’s cotton crops have been badly damaged by heavy rain and snow. Snowfalls also hurt cotton crops in Xinjiang. The snowstorm in Gansu province was the latest in a string of weather events that have hurt cotton crops among other crops this year. This report also states that the outlook for cotton planting in China this year is “not optimistic” after farmers delayed sowing because of adverse weather, said Gao Fang, Executive Vice President, China Cotton Association. China faces a cotton shortage of about 310,000 metric tons before new domestic supplies come onto the market after India halted exports”. He also quoted Business China report that the local media has speculated that China, the world largest cotton consumer will import more cotton to around 800,000 tonnes in import quotas for cotton soon to ease the demand shortfall. The report also states that according to the latest report released by the United States Department of Agriculture (USDA), China is expected to increase cotton consumption by 1.5 million bales in 2010-11. staff report