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From: Emerging Textiles
7 April 2010 -- Cotton prices continued rising in China and India in the last weeks while they remained more stable in Pakistan. By contrast, polyester prices further increased in India and Pakistan while stabilizing in China. A sudden rebound in Chinese polyester prices is being however observed in the current week.
The situation is now very rapidly moving on the Asian market for textile fibers.
Cotton prices continued last month rising in all three major textile producing countries, i.e. China, India and Pakistan.
Prices however stopped climbing a few weeks ago in Pakistan after reaching historical levels.
The increase in Pakistani cotton prices reached no less than 68% in local currency terms in the past 15 months from the start of last year.
Cotton prices "only" rose 47% in China and 34% in India, over the same period.
Reduced Price Gap
The difference between Pakistani cotton prices, on one side, and Indian and Chinese prices, on the other side, is however being reduced, day after day.
In India, the Shankar 6 is approaching the symbolic level of 29,000 rupees per candy on Mumbai's market.
Strong demand from Pakistan, China and Bangladesh is expected pushing up prices to higher levels in the coming period.
Textile producers are requesting a ban on Indian cotton exports, as a result.
In China, a looming lack of supply is stimulating domestic prices which began more sharply rising at the start of the week.
If confirmed in the coming period, such a scarcity of cotton fibers in China should result in a new increase of prices on the global market.
When considering the cotton price levels in US$ terms, the gap between Pakistan and other textile nations is significantly reduced, due to the weakness in the Pakistani rupee, especially in 2009.
Polyester Rebounding in China
On the polyester market, prices stopped rising in March in China while they continued increasing in India and Pakistan which lost some more competitiveness, as a result.
In US$ terms, PSF prices are now slightly above Chinese prices in India and Pakistan.
A sudden rebound in China's polyester prices is however being materialized since the start of the week, with prices gaining ground day after day, as reflected by statistical tables and graphs of our .
In China and Pakistan, the price difference between cotton and polyester widened in the past period.
Polyester prices even fell below cotton prices in Pakistan, a most unusual situation in this country.
In India, the price difference remains relatively small, compared with China where cotton prices more sharply rose than polyester prices in past weeks.
- Send to EmergingTextiles.com
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