Abundant yarn at affordable price available for domestic ancillary

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Spokesman of All Pakistan Textile Mills Association (APTMA) has said that abundant yarn is available for domestic ancillary industry at comparatively low prices as against yarn available to regional competitors to produce textile products.
He said the yarn is available in Pakistan at $1.6-1.7/lb cotton parity price as against current international cotton @ $2.28/lb (A Index).
According to him, it is golden opportunity for the ancillary industry at prevailing yarn prices to perform and achieve 14 billion US$ textile exports this year.
In spite of all odds the spinning industry is supplying sufficient yarn to the textile ancillary industry at lowest prices prevailing in the region, he added.
He said the cotton production stood at 11.6 million bales in Pakistan uptill March 2011. Industry imported 1.4 million bales uptill Feb. 2011, leaving the industry short by 1.4 million bales for the remaining period till July 2011. Only an immediate import of one million bales can ensure continuing textile operations. Physical cotton at competitive prices is not available from international sources, he said.
It is interesting to note that spinning industry had exported 20% less yarn quantity this year under the free market mechanism i.e. at an average 48,000 tons per month uptill February 2011 as against 60,000 tons per month in 2009-10, under restricted regime.
Textile ancillary industry should now play its role and perform to achieve textile exports targets of 14 billion US$ this year by fetching better price of their products.
All Pakistan Textile Mills Association (APTMA) is the premier national trade association of the textile spinning, weaving, and composite mills representing the organized sector in Pakistan. APTMA emerges as the largest association of the country as it represents 396 textile mills out of which 315 are spinning, 44 weaving and 37 composite units.

(Source: http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=97818)

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