NEW DELHI-“CII predicts 7.3-7.7 percent growth in 2018-19 and expects it to strengthen further in the few years to come. This in spite of some challenges in the global economy including hardening of interest rate regimes volatility in oil prices etc ” said Mr Rakesh Bharti Mittal President CII addressing a Press Conference here. The reforms over the past 4 years was mentioned by Mr Mittal and he further stated that GST and Insolvency and Bankruptcy Code are the most relevant reforms that would change the way business is done in the country. Alluding to the intensive amount of work on ease of doing business that is happening across states the CII President said that state governments working proactively on EoDB are getting better investments and business interest and the Government of India’s ranking of states plays a good role in this. Responding to a question on how are the large NPA accumulation to be dealt with Mr Mittal said that CII has been propagating setting up of a very large Asset Reconstruction Institution or a “bad bank” which would help clean up the banking system of the stressed assets and allow for unfettered credit flow. Alluding to credit growth which has picked up after a long period the CII President said that this was a most welcome feature. However he added that many SMEs are still struggling to get credit and even when they do their cost of credit is high making their business operations difficult. On job creation Mr Mittal went on to say that while new jobs have been created in the formal sector itself there are many more created in the informal sector and these are not being tracked. As an example he mentioned that huge growth in MUDRA loans which indicate the livelihood creation in sectors which are mostly out of the statistical radar. Staying on the same subject Mr Mittal mentioned that owing to reforms like demonetization GST etc numbers of employment creation in the informal sector are slowly moving to the formal sector. In the same vein of government reforms for easing business Mr Mittal mentioned that the Fixed Term Employment regulation has the potential transform job creation in the country and is a very good policy for industry. On greater inclusion as an agenda for industry the CII President mentioned that CSR activities would be a focus for CII this year. Alluding to the farm sector Mr Rakesh Bharti Mittal said the news that the Government was planning to launch ranking of states on agriculture reforms was a great one. In order for the government to achieve its target of doubling farmers’ income focus has to be on rural infrastructure land/ power reforms water management icro irrigation moving to high value crops farmers’ freedom to sell directly food processors/ retailers in addition to APMC markets. These would lead to large scale private sector investments and increase in farmers’ income Mr Mittal added. Speaking at the same Press Conference Mr Uday Kotak President Designate of CII mentioned that compared to 4 years back there is a reversal in the macro and micro situation. The micro situation is far stronger than 4 years back on the back of robust demand. While the macro challenges like hardening interest rates volatile oil prices present a more challenging macro. Others present at the Press Conference include Mr Piruz Khambatta Chairman Confederation of Indian Industry - Western Region and Mr B Thiagarajan Chairman Confederation of Indian Industry - Maharashtra State Council.
Source: Tecoya Trend
Tirupur Exporters' Association (TEA) today stressed the need to enter into Free Trade Agreements (FTA) with European Union, USA, the UK and Russia, to face the Chinese threat in export markets. In a memorandum submitted to Union Textile minister, Smriti Irani in New Delhi, the association said though garment exports from China had been declining in a gradual manner since 2013, Chinese were 'silently' entering countries like Bangladesh, Sri Lanka, Vietnam and of late Myanmar, by setting up manufacturing bases. China, by using advantages available to these countries with predominant EU and US markets, increased export and circumvented Indian industry's growth prospects in the global market, which was a real threat to the industry here, TEA president Raja M Shanmugham said. "To face the onslaught of the Chinese, it was important for India to enter into FTA with EU, US, the UK and Russia, Comprehensive Economic Partnership Agreement with Australia and Comprehensive Economic Cooperation Agreement with Canada and other promising countries," he said. On the Tirupur cluster, Shanmugham said TEA had set a target for knitwear business, including exports and domestic, to touch Rs one lakh crore by 2020. The target was fixed by none other than Prime Minister Narendra Modi, which also subscribed to the minister's (Smriti Irani) vision of doubling the textile industry turnover, he added. In the last financial year 2017-18, Tirupur knitwear business reached Rs 42,000 crore, of which the contribution of exports and domestic business were Rs 24,000 crore and Rs 18,000 crore respectively, Shanmugham said. Exports had declined from Rs 26,000 crore to Rs 24,000 crore, about 7.7 per cent, he said. This was because of unforeseen situations faced by industry, the TEA president said adding the bottomline was hit further due to implementation of GST and reduction of duty drawback by 5 per cent and ROSL by two per cent.
Source: Business Standard
MUMBAI - There is an unprecedented wave of young innovative textile and fashion companies that are currently being created across Europe who are not only innovating but are also taking risks. In the last few years we have witnessed a strong return of business confidence across the entire European textile and clothing industry stated Mr. Klaus Huneke President. The European Apparel and Textile Federation (EURATEX) while addressing the General Assembly of the Federation held in Brussels last week. The topic of this year’s EURATEX Meet was Investments in the Textile and Clothing factories of the future in Europe. The event attracted more than 120 attendees and offered an opportunity to gain interesting insights about a dynamic moment in which the sector is regaining a leading position in the EU industrial landscape. Indeed over the last few years the Textile and Clothing Industry has invested over Euro 50 billion in the EU – a trend that is predicted to continue in the future. Keynote speaker Mr. Irmfried Schwimann Deputy Director-General of DG Grow followed with an exhaustive overview of the financial instruments and funding opportunities available from the European Union. The main discussion was divided in two panels focused on investment trends in recent years and visions for the industry in the future respectively. CEOs and representatives from seven European companies presented their success stories and shared their first-hand experience in facing the challenges of the sector from the need of skilled workforce efforts in moving to sustainable processes and materials and surpassing barrier regulations that can hinder exports. The presentations and debate offered the audience a unique point of view about the actions that can be taken at European national and regional level to ensure the right conditions for entrepreneurs in the textile and clothing sector to keep investing and producing in Europe. The speakers called for collaboration in the sector highlighting the importance of investing in the development of training programs to “make the sector more competitive and attract younger experts” and “producing locally to sustain this knowledge-based approach”.
Source: Tecoya Trend
CITI has estimated the production of Indian cotton crop for the cotton season 2017-18 at 373 lakh bales (170 kg each) which is estimated to be 8.11% higher from the previous year because of the increase in area under cotton cultivation by almost 13% i.e. from 108.45 lakh hectares to 122.59 lakh hectares. Sanjay Jain, chairman CITI stated that the estimated balance-sheet for 2017-18 shows production as 373 lakh bales, imports at 15 lakh bales and exports at 70 lakh bales. Further consumption is estimated to be 316 lakh bales (including non mill consumption of 19 lakh bales) against 306 lakh bales in 2016-17. He also opined that the high prices of cotton domestically and internationally would further force the consumption to either remain stagnant or slightly at the lower side. Hence, consumption figures should not exceed beyond 316 lakh bales (including the non-mill consumption of 19 lakh bales). Even the figure of 316 lakh bales is already higher than the estimate of cotton consumption of 309 lakh bales based upon the consumption of first seven months for the cotton season 2017-18 as reported by the Textile Commissioner. The consumption of last season 2016-17 was 306 lakh bales (including the non-mill consumption of 17.50 lakh bales). CITI has arrived at this conclusion after doing extensive analysis on the production of yarn data reported by the office of the Textile Commissioner from October 2017 to April 2018, export figures and feedback from its member mills spread across the country. Jain also pointed out that CITI has kept the opening stock of cotton for 2017-18 at 47.81 lakh bales as decided by the Cotton Advisory Board in its meeting on December 12th, 2017. He opined as this figure was arrived after two months of the opening stock date of October 1, 2017 there was no need to revisit the figure. The opening stock figure was arrived by CAB after considering the balance sheet of last year (2016-17) actual number of mills stock available with the TXC office as on 1st October 2017 stock with CCI as on 30th Sept 2017 and estimated stock with trade as on 1st October 2017. Thus, the closing stock will be around 49.81 lakh bales which is quite sufficient for the textile sector to smoothly run their units throughout the year. There has been a lot of rumours that the recent increase in cotton prices in India is due to shortage of cotton. However, Mr Jain stated that this increase was due to the recent increase in cotton prices across the globe (led by China and USA weather fears impacting the 2018-19 crop size negatively). It has nothing to do with the shortage of cotton as feared by many. To give a better perspective, if we see increase in ZCE, Cotlook A and MCX since 1st April 2018 till date, the increase is 14%, 12% and 13%, respectively which clearly shows that Indian prices are just in line with global price movements. Further it’s heartening that a normal Monsoon is predicted and hence we can expect an equally good crop as 2017-18 in 2018-19.
Source: ET Bureau
A delegation from Tirupur Exporters’ Association (TEA), which met the Union Textiles Minister Smriti Zubin Irani on Thursday, has sought the Union Government’s support to enhance the research and development facilities to help Tirupur cluster go for product diversification. The Tirupur delegation initiated the meeting with the Minister in the wake of a slump experienced in the exports during 2017-18 financial year vis-a-vis the previous fiscal year. TEA president Raja M. Shanmugam pointed out to Ms. Irani that product diversification and strengthening of design capabilities were the need of the hour for the enterprises in the cluster to catapult the export prowess. The exporters also explained the importance of getting a level playing field with the main competitors from Asia in the global apparel market. “For this, the government has to expedite the signing of Free Trade Agreements with European Union and Russia, and Comprehensive Economic Partnership Agreement with Australia”, said Mr. Shanmugam.
Source: The Hindu
The Finance Ministry today said GST registrants can approach jurisdictional tax officer with valid documents to change the e-mail and mobile number recorded against their GST identification number (GSTIN). The revenue department had received complaints from taxpayers that the intermediaries who were authorised by them to apply for registration on their behalf had used their own e-mail and mobile number during the process. These intermediaries are not sharing the user details with the taxpayers. "With a view to address this difficulty of the taxpayer, a functionality to update e-mail and mobile number of the authorised signatory is available in the GST system. "The e-mail and mobile number can be updated by the concerned jurisdictional tax authority of the taxpayer," the ministry said in a statement. Taxpayer would be required to approach the concerned jurisdictional tax officer to get the password for the GSTIN allotted to the business. Taxpayers can check jurisdiction through 'Search Taxpayer' option available on GST portal. Taxpayer would be required to provide valid documents to the tax officer as proof of his/her identity and to validate the business details related to his GSTIN. Following this, the officer would authenticate the activity and enter the new e-mail address and mobile number provided by the taxpayer. After uploading of the documents, tax officer will reset the password for GSTIN in the system and username and temporary password reset will be communicated to the e-mail address as entered by the officer. Taxpayer would then have to login on GST portal using the username and temporary password e-mailed to him. The username and password can now be changed by the taxpayer.
Source Money Control
The South India Hosiery Manufacturers Association (SIHMA) has urged Prime Minister Narendra Modi to stop any further export of cotton till the next cotton season begins in October. SIHMA president A. C. Eswaran pointed out that huge fluctuation in domestic cotton prices in the recent months had resulted in the increase of cotton yarn prices.
Harvested cotton crop
“To control the cotton prices, the only solution is to stop any further exports of cotton and make the remaining quantity of harvested cotton crop available to the domestic textile sector.
Stock taking
“We have made the appeal as the cotton exports have been continuing with the help of Cotton Corporation of India without taking stock of the needs within the country”, he said.
Raw materials
With cotton being the main raw material for the knitwear manufacturers, the escalation in its prices could affect the profit margins”, added Mr. Eswaran.
Source: The Hindu
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1369.44 |
USD/Ton |
-0.23% |
6/14/2018 |
|
VSF |
2315.70 |
USD/Ton |
0% |
6/14/2018 |
|
ASF |
3076.16 |
USD/Ton |
0% |
6/14/2018 |
|
Polyester POY |
1405.35 |
USD/Ton |
0% |
6/14/2018 |
|
Nylon FDY |
3638.30 |
USD/Ton |
0% |
6/14/2018 |
|
40D Spandex |
5465.25 |
USD/Ton |
0% |
6/14/2018 |
|
Nylon POY |
1655.19 |
USD/Ton |
0% |
6/14/2018 |
|
Acrylic Top 3D |
3724.18 |
USD/Ton |
0% |
6/14/2018 |
|
Polyester FDY |
5886.86 |
USD/Ton |
0% |
6/14/2018 |
|
Nylon DTY |
1670.81 |
USD/Ton |
0% |
6/14/2018 |
|
Viscose Long Filament |
3255.73 |
USD/Ton |
0% |
6/14/2018 |
|
Polyester DTY |
3201.08 |
USD/Ton |
0% |
6/14/2018 |
|
30S Spun Rayon Yarn |
3091.77 |
USD/Ton |
0% |
6/14/2018 |
|
32S Polyester Yarn |
2240.75 |
USD/Ton |
0% |
6/14/2018 |
|
45S T/C Yarn |
3091.77 |
USD/Ton |
0% |
6/14/2018 |
|
40S Rayon Yarn |
2342.25 |
USD/Ton |
0% |
6/14/2018 |
|
T/R Yarn 65/35 32S |
2623.32 |
USD/Ton |
0% |
6/14/2018 |
|
45S Polyester Yarn |
3263.54 |
USD/Ton |
0.48% |
6/14/2018 |
|
T/C Yarn 65/35 32S |
2748.24 |
USD/Ton |
0% |
6/14/2018 |
|
10S Denim Fabric |
1.46 |
USD/Meter |
0.11% |
6/14/2018 |
|
32S Twill Fabric |
0.90 |
USD/Meter |
0% |
6/14/2018 |
|
40S Combed Poplin |
1.26 |
USD/Meter |
0.12% |
6/14/2018 |
|
30S Rayon Fabric |
0.72 |
USD/Meter |
0% |
6/14/2018 |
|
45S T/C Fabric |
0.74 |
USD/Meter |
0% |
6/14/2018 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15615 USD dtd. 14/6/2018). The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
US venture capital fund aims to spark innovation. In the next ten years, the textile and apparel industry will adopt new materials that deliver unprecedented performance and eliminate harmful chemicals from products and manufacturing processes, according to a venture capital fund report. The report Safer Chemistry Innovation in the Textile and Apparel Industry, says it aims to "stimulate conversations and catalyse innovation that brings safer and more sustainable textiles and apparel to market." It was released last week by venture capital fund Safer Made, which invests in safer products and technologies, with support from the global initiative, Fashion for Good. "With this report we aim to enable productive conversations between both sector ‘insiders’ brands, retailers, mills, and chemicals and equipment suppliers and those outside the sector, such as innovators, investors, governments and the advocacy and philanthropic community leading to partnerships and investment decisions," said Martin Mulvihill, partner at Safer Made.
Materials innovation
"The solutions to safer chemistry challenges are quite often new materials and processes that deliver new performance characteristics," the report says. It evaluates the role various harmful chemicals have in the production of textiles and apparel and identifies five key innovation areas.
Key innovation areas:
Within each innovation area, the report highlights work by both startups and established suppliers to bring safer chemistry and materials to market. It showcases the work of more than a hundred young innovative companies. "The industry is hungry for new materials with new performance characteristics, and there are several companies aiming to bring them to market," the report says. This need for materials innovation "provides the opportunity to adopt new materials that perform better and are safer, and to design safer manufacturing processes," it continues.
Drivers to change
It identifies three major factors driving the adoption of safer chemistry in the textile and apparel sector:
The report concludes that the fashion industry can emerge as a circular and regenerative sector of the economy. Katrin Ley, managing director of Fashion for Good said: "An open innovation culture is crucial, and Safer Made’s report provides different stakeholders with valuable information to support them in the transition to only good fashion."
Source: Chemical Watch
The tech-textile market was estimated at €138 billion in 2017 and is projected to reach €184 billion by 2022, or a CAGR of 5.9 per cent. This important increase is fuelled by the increasing demand from end-use industries, more favourable conditions of countries and increasing end-use applications, including new end-uses where actually non-textiles are used. The global coating market amounts to €4.7 billion and is projected to reach €5.8 billion by 2021 at a CAGR of 3.5 per cent. “Asia-Pacific dominates the textile coating market with China as the largest consumer of textile coatings worldwide. Other emerging important countries are the UAE, Argentina, India, Australia, South Africa, Malaysia and Chile. Moreover, the ensuing increase in investments and rise in number of manufacturing establishments are expected to lead Asia-Pacific as the prime driver for the growth of coated textile,” Marc Van Parys, president of Unitex, told Fibre2Fashion in an interview. Unitex is a non-profit organisation for the textiles industry with members in Belgium and neighbouring countries like the Netherlands, Germany, France and Italy. Its activities include technical assistance for members, conducting workshops, mini-symposia and international congresses (bi-annual digital textile congress, bi-annual coating and laminating congress and a tri-annual carpet congress). One of the main markets for coated textiles is protective clothing involving garments or textile materials which are worn to safeguard personnel from coming in contact with hostile elements or environments. It reduces the risk of the person wearing protective clothing from injury, damage or death, added Parys. The global protective clothing market is poised to grow at a CAGR of around 6.8 per cent over the next decade to reach approximately €11 billion by 2022. The global fire-resistant fabrics market is projected to reach €4.5 billion by 2021 at a CAGR of 5.3 per cent from 2016 to 2021. Moreover, the rising demand for protective clothing from various end-use industries such as oil & gas, construction & manufacturing, and chemicals is boosting to drive the chemical and fire-resistant fabrics markets.
Source: Fibre2Fashion
Head of the Ready Made Garments Export Council (RMGEC) Mohamed el Sayaad has said the strategy of the readymade clothes sector in Egypt aimed at increasing exports by the end of this year to $1.7 billion with a 20 percent increase over 2017. In statements Thursday, Sayaad pointed out to plans with Chinese companies to establish textile factories to produce more clothes locally for imports, saying the council seeks to get major factories to help small and medium-sized enterprises through providing them with technical support with the aim of increasing Egyptian exports. He said the liberalization of foreign exchange and the increase of customs duties has helped to boost local industries, encourage competitiveness in local markets and reduced exports. He said that currently Egypt has 620 plants that produce export-oriented ready-made garments. Their combined workforce stands at 460 thousand, half of them in direct jobs and the other half in indirect ones.
Source: Egypt Today
The Pakistan Tanners Association (PTA) has called on the Indian authorities to include finished leather goods in its next round of tax subsidies. The Federal Minister for Commerce is set to unveil the next Drawback of Local Taxes and Levies (DLTL) scheme for 2018/21, and the PTA chairman bemoaned the fact that dyed and printed fabrics for textile sector are included in the new DLTL regime until 2021, while the finished leather is not. The PTA reminded the minister that it had already submitted a detail presentation to the commerce secretary aiming for early inclusion of finished leather in the scheme. Under current rules, finished leather made of cow, buffalo, sheep and goat skins is highly value-added and finished leather is being sold to high value branded shoes. PTA Chairman Amanullah Aftab pointed out that Pakistan’s leather industry represents the country’s second biggest export-led industry, contributing around $918.131 million for the year June-June 2016/17. A closer look at that figure reveals that finished leather represents a share of around 38.5% of the total leather exports.
Source: The Leather International Magazine
Denim Expert Limited, a market leader in quality denim manufacturing, has become the first manufacturer in Bangladesh to join the Sustainable Apparel Coalition (SAC). The manufacturer will use the group’s sustainability measurement suite of tools, the Higg Index, to drive environmental and social responsibility throughout its supply chain. With its membership in the SAC, the Denim Expert joins more than 220 global brands, retailers, and manufacturers, as well as government, non-profit environmental organizations, and academic institutions, (including Adidas, Puma, American Eagle, Disnep, G-star, Levis, Gap, Aldo, United Colors of Benetton, Inditex, C&A, Esprit, H&M, American Apparel & Footwear Foundation, GIZ, WWF etc), which are collectively committed to improving supply chain sustainability in the apparel, footwear, and textile industry. "We are pleased to join the SAC, confident it will have a positive impact on product sustainability over time and become a model for how industries can collaborate in making a positive impact on value chain performance," said managing director of Denim Expert Ltd Mostafiz Uddin. In its relationship with the SAC, Denim Expert will contribute both data and resources to support the Higg Index, which measures sustainability performance and drives supply chain transparency and decision-making to improve efficiency and sustainability impact. The Higg Index is an indicator-based suite of tools that enables suppliers, manufacturers, brands, and retailers to evaluate materials, products, facilities, and processes based on environmental performance, social labor practices and product design choices. "We welcome the addition of Denim Expert Ltd to the Sustainable Apparel Coalition, and look forward to their participation in this industry-wide effort in sustainability," SAC CEO Jason Kibbey said. "Having the Denim Expert as part of the Coalition widens the scope of our impact within the industry and accelerates the change we’re making towards responsible industry actions."
Source: Fibre2 Fashion
PRODUCTION The Republic of Uzbekistan continues to take steps to reduce the cotton planted area each year. For marketing year (MY) 2018/ 19 this reduced amount is about 35 000 hectares. Accordingly MY 2018/19 cotton planted area is expected to be about 1.17 million hectares. Production is expected to be about 3.8 million bales (480 pounds each) which is 830 000 MT. The intention of the government is to reduce planting in areas where field yields are lower than the country average such as in highly salinized areas and mountain regions and to facilitate production of other crops instead including fruits and vegetables potatoes as well as grains. Cotton planted area for the coming year MY 2018/19 may still even be further reduced in light of this goal. In accordance with the plan about 30 500 hectares during MY 2016/17 and about 50 000 hectares in MY 2017/18 have been taken out of cotton production. Cotton planting area will be reduced gradually until 2020 to lower targeted domestic production to about 3 MMT of seed cotton compared to 3.35 MMT of earlier years. The initiative will take a total of 185 000 hectares of land from cotton planting and allocate to other crops. In MY 2017/18 the Uzbek government reported 1.2 million hectares of cotton was harvested. MY 2018/19 cotton planting has already started. Warmer than usual weather as well as limited rains during the month of March have enabled farmers to start planting. On the other hand a mild winter with little rain and snow may result in water scarcity during the season and also provide a suitable environment for pests during the coming season. Uzbekistan has an extensive cotton seed breeding and research program. Regarding seed varieties in recent years about half of the planted seeds are early-ripening types such as Sultan and Namangan -77 as these varieties have better yields and resistance to various common diseases. About one-third of the rest of the varieties will be mid-ripening such as Bukara 6 and Bukara 8 and the rest are new varieties such as Parlak.
CONSUMPTION
The most important recent trend in the cotton sector in Uzbekistan is the rapid and continued growth in domestic consumption. According to industry sources about sixty percent of locally produced cotton is consumed domestically. MY 2017/18 domestic consumption is expected to reach about 2.3 million bales (500 000 MT) and is projected to increase to 2.5 million bales (550 000 MT) during MY 2018/19. According to government sources presently about 500 enterprises are engaged in textile production in Uzbekistan. The Uzbek government is encouraging new partnerships to increase the use of cotton domestically. New textile investments are approved and that will increase domestic consumption in the coming years. Accordingly the Uzbek government plans to invest about US$1 billion between 2015 and 2019 to modernize and diversify the textile industry and additional US$ 2.2 billion will be invested until 2022 to increase domestic textile production. At the same time new investments are coming in existing mills are increasing their capacity as well. Industry sources estimate that about half of the domestic consumption is by the top twenty mills. Uzbekistan is moving forward with the new concept of implementing clusters for cotton and textile production to vertically integrate more of the sector and increase foreign investment. Through the textile clusters concept the government will support foreign companies through tax and customs benefits as well as providing land to grow cotton process cotton and produce final garments. Accordingly starting from MY 2018/19 thirteen enterprises were approved to work under the project and about 140 000 hectares of land will be planted cotton under the experiment. Uzbekistan’s exports of cotton yarn textiles and readymade garments were about US$1.1 billion in 2016 and were estimated to reach US$1.3 billion at the end of 2017. Presently Uzbek textiles are mostly exported to CIS countries. However a recent agreement signed with the European Union reduced the import tax for Uzbek textile goods from twelve to six percent which will facilitate Uzbek textile exports to this market in the future as well. Also the new agreement signed between Uzbekistan and Georgia on mutually lowering shipping charges on railways will facilitate Uzbekistan’s utilization of the newly opened rail road connection between Baku of Azerbaijan Tbilisi of Georgia and Kars of Turkey. The new railroad track will facilitate exports of cotton and products among other goods from Central Asia including Uzbekistan to Turkey and beyond. The new route will significantly shorten shipping time and may help those countries to increase their exports significantly in coming years.
TRADE
The rapid increase in domestic consumption has limited the cotton available for exports. Accordingly MY 2017/18 cotton exports are expected to be about 1.15 million bales (250 000 MT). Higher production expected in MY 2018/19 will is expected to keep overall exports stable in MY 2018/19 with levels similar to recent years. The Uzbek government initiative to move cotton trading to an electronic platform starting from calendar year 2018 has been delayed. Presently Uzpakhtasanoat is responsible for receiving and processing raw cotton and exports of cotton fiber. Uzpakhtasanoat is reported to offer cotton from various cotton terminals in the country although in small quantities. China and Bangladesh continue to be the main markets for Uzbek cotton though lower availability is reported to affect early season exports. Accordingly China imported 44 000 MT of Uzbek cotton during the first half of MY 2017/18 while this is higher than the same period last year the general annual trend is slightly downward. There are no official Uzbek statistics for exports by country available however sources indicate that it is due to large exports to non-reporting countries such as Bangladesh. Uzbek cotton exports to Turkey and Iran also declined. Accordingly exports of cotton to Turkey were 2 200 MT during the first six months of the MY 2017/ 18 compared to 21 700 MT of the same period last year. Exports to Iran were 8 200 MT during the first seven months of MY 2017/18 down from 19 000 MT of the same period last year. Exports to Russia were about 2 600 MT during the first six months of the marketing year. While the amount of lint cotton for exports is becoming more limited exports of yarn and textiles are increasing. Accordingly China and Russia are among the leading export markets for Uzbek cotton yarn so far in MY 2017/18. China imported 47 600 MT of Uzbek cotton yarn during the first six months of the marketing year up from 42 000 MT of the same period in 2016/17. Russia imported 43 000 MT of Uzbek cotton yarn during the first half of the marketing year. Turkey’s imports of Uzbek cotton yarn more than doubled during the first half of MY 2017/18 reaching 22 000 MT making Uzbekistan the number one supplier of cotton yarn to Turkey. Other destinations for Uzbek cotton yarn during the first seven months of the marketing year were Iran with 2 000 MT and during the first five months of MY 2017/18 Poland with 2 500 MT. Uzbek cotton fabric exports were also up. Uzbekistan continues to be the leading supplier of cotton fabrics to Russia with 41.5 million square meters (MM2) during the first half of the marketing year. Fabric exports to Poland were 6.8 MM2 during the first five months of the marketing year and Korea imported 1.2 MM2 of fabric during the first seven months. China imported 400 000 meters of Uzbek fabrics during the first half of the MY 2017/18.
Source: Tecoya Trend
