Monomoy Capital Partners And Kingsmoor Acquire The Denim Manufacturing Divison Of The Plains Cotton Cooperative Association

NEW YORK, N.Y. — June 6, 2014 — Monomoy Capital Partners, a New York private equity fund focused on value investing and business improvement, and Kingmoor, an investment company with extensive operational and apparel experience, announced today that they have teamed up to acquire the denim manufacturing operation of the Plains Cotton Cooperative Association (the “PCCA”) through American Textile Holdings, LLC. (“AmTex”), a newly-created acquisition vehicle. Terms of the transaction were not disclosed.

AmTex is a leading designer and manufacturer of both denim fabric and denim apparel products. The company converts raw cotton into denim fabric at the ACG textile mill located in Littlefield, Texas and converts denim fabric into finished jeans at the Denimatrix cut, sew and laundry operation located in Guatemala City, Guatemala. AmTex employs over 2,200 associates at its two facilities and runs one the largest denim manufacturing operations in the Western Hemisphere.

“We are excited to create AmTex and purchase these impressive denim assets in Texas and Guatemala,” said Robert Fowler, a partner at Kingmoor and the new Chief Executive Officer of AmTex. “Denimatrix and ACG offer their customers unsurpassed quality, value and proximity in a denim manufacturing sector that is currently migrating from Asia back to the Americas. With our partners at Monomoy, we will expand the company’s capabilities and work with our customers to bring fashion-forward products to market through the most efficient supply chain in the industry.”

Today’s transaction with the PCCA will allow AmTex to operate as a standalone business focused exclusively on innovative development, fabrication, marketing and sales in the denim sector. “We thank our friends at the PCCA for the extraordinary amount of effort they have put into completing a complex transaction,” said Eric Ceresnie of Monomoy. “We look forward to working with the PCCA over the next few months as we transition AmTex to an independent, entrepreneurial enterprise.”

Monomoy made its investment in AmTex through its second fund vehicle, Monomoy Capital Partners II, L.P. Kevin Morris from Kirkland & Ellis, LLP and Rodolfo Alegría from Carrillo & Asocidos provided legal counsel for the transaction. The Pine Hill Group and KPMG performed financial, accounting and tax diligence for Monomoy and Kingsmoor. Kingsmoor and its network of apparel experts provided industry insight through the acquisition process.

Posted June 9, 2014

Source: Monomoy Capital Partners
 

More Than 700 International Fashion Buyers To Convene At Colombiamoda 2014

MIAMI —June 04, 2014 — More than 700 international fashion buyers from at least 35 countries are expected to attend Colombiamoda 2014 in Medellin, Colombia, from July 22 to 24, 2014. Colombiamoda is Latin America’s largest fashion event, consisting of runway shows and business meetings with industry heavyweights from around the world. The event is a partnership between Inexmoda, Colombia’s Institute for Export and Fashion, and Proexport Colombia, the government agency charged with promoting trade, investment and tourism.

“Colombiamoda is critical for the growth of Colombia’s fashion industry, from the sale of designer pieces to our high-quality raw textiles,” said Proexport President Maria Claudia Lacouture. “Colombian entrepreneurs will have the opportunity to share their products directly with international buyers, resulting in long-term supply deals that will allow both parties to benefit from Colombia’s free trade agreements and premium products.”

The goal of July’s event will be to further globalize Colombia’s economy and utilize the country’s FTAs. In order to do this, a number of targeted conferences, business meetings and subsector events will be included in the Colombiamoda program. Additionally, Proexport will debut a new online tool that allows buyers and exporters to secure meetings in real-time.

Buyers have already been confirmed from the U.S., Canada, Ecuador, France, Chile, Japan and others, representing global companies such as Under Armour, Galeries Lafayette and Perry Ellis International. Among the products on display will be jeans, sportswear, formal styles, underwear, kids’ clothes, uniforms, swimwear and shapewear.

Building on the incredible success of past events, Colombiamoda will expand this year to include industrial uniforms and safety clothing, as well as two new pavilions: household textiles and technical textiles.

Buyers from the U.S. and Canada have had great success at Colombiamoda in past years. For example, there were 43 percent more Canadian buyers at Colombiamoda in 2013 than the previous year, generating business expectations of more than US$5 million. These expectations benefitted from the lowered tariffs of the Canada-Colombia Free Trade Agreement, which came into effect in 2011.

Similarly, Colombia exported $256,807,091 worth of fashion-related goods to the U.S. in 2013. Thanks to the United States-Colombia Free Trade Agreement, the countries have a symbiotic trade relationship, with Colombia also importing $243,324,116 worth of fashion-related goods from the U.S., according to Inexmoda.

Posted June 5, 2014

Source: Proexport Colombia
 

Overall Shipments Of New Textile Machinery Slightly Down In 2013

ZURICH, Switzerland — May 2014 — In 2013 shipments fell in most segments though remained on a relatively high level. In comparison to 2012 global shipments of new short-staple spindles rose by +10% while those of open-end rotors decreased slightly by -2% and those of long-staple spindles dropped by -45%. Also the number of new draw-texturing spindles shipped was down by -29%, those of new shuttle-less looms by -4%,and those of new electronic flat-knitting machines by -24%. Worldwide shipments of new large circular knitting machines in 2013 remained unchanged on the record level of 2012.

These are the main results of the 36th annual International Textile Machinery Shipment Statistics (ITMSS) just released by the International Textile Manufacturers Federation (ITMF). The report covers six segments of textile machinery, namely spinning, draw-texturing, weaving, large circular knitting, flat knitting and finishing machinery. The 2013 survey has been compiled in cooperation with some 117 textile machinery manufacturers, representing a comprehensive measure of world production.

Spinning Machinery
After shipments of new short-staple spindles plummeted in 2008 (-33%) and 2009 (-17%) they soared in 2010 (+75%) to pre-crisis levels and increased in 2011 by a further +15% reaching 14.33 million, an all-time high. In 2012 shipments of short-staple spindles fell by -27% to 10.51 million spindles but rose again in 2013 by +10% to 11.56 million. 93% of all shipped short-staple spindles in 2013 were destined for Asia (10.72 million), with China alone absorbing 6.21 million or 54% of global shipments, followed by India as distant second (2.19 million spindles or 19%), Indonesia (757,000 or 6.6%), Turkey (566,000 or 4.9%) and Pakistan (546,000 or 4.7%).

Global shipments of long-staple (wool) spindles dropped in 2013 by -45% from 146,400 to 80,800. Europe was the main recipient (49,900 or 62%), followed by Asia (28,950 or 36%) and the Americas (1,900 or 2.4%). The single biggest investor in long-staple (wool) spindles was Turkey wit 34,300 spindles (or 43%), followed by China with 26,550 spindles (or 33%), Romania with 6,050 (or 8%), Italy with 5,000 spindles (or 6%) and Poland with 2,900 (or 4%).

As far as open-end rotors are concerned global investments decreased slightly in 2013 by -2% to 443,200. Asia was once again the region that absorbed by far most of the new rotors (351,400 or 79% of global shipments). By country, China was the dominant investor putting in place 271,740 or 61% of global shipments. India was again distant second with a total of 30,980 new open-end rotors (7.0%), followed by Turkey with 28,640 rotors (6.5%), Brazil with 13,780 rotors (3.1%), Vietnam with 13,660 rotors (3.1%) and Malaysia with 12,040 rotors (2.7%).

Texturing Machinery
From 2010 to 2011 global shipments plummeted from 13,200 to only 1,824 (-86%). In 2012 no shipments of single heater draw-texturing spindles (mainly used for polyamide filaments) were recorded. In 2013 shipments reached 2,600 spindles of which 2,120 went to Asia (China 960, Chinese Taipei 840 and Thailand 320) and 480 to Europe, Others (Turkey).

In the segment of double heater draw-texturing spindles (mainly used for polyester filaments) investments dropped from 717,760 to 505,080, a decline of -29%. 90% (or 455,640) of all shipments went to Asia. By far the biggest single investor in this type of draw-texturing machinery was again China where 366,480 new spindles or 73% of global shipments were installed, followed by distant second Japan with 30,860 or 6.1%, India with 21,640 or 4.3%, Vietnam with 8,160 or 1.6%, and Egypt with 7,920 or 1.6%.

Weaving Machinery
Worldwide shipments of shuttle-less looms fell slightly in 2013 from 86,450 machines to 83,420, a fall of -4%. The main reason for this development was a further decline in shipments of water-jet looms. After a skyrocketing jump of +537% to 73,250 in 2010 and to 112,930 in 2011, which was partially due to the fact that more weaving machinery manufacturers reported for the first time in 2010, global deliveries of water-jet shuttle-less looms dropped by -65% to 39,920 machines in 2012 and by -13% to 34,580 in 2013. In the shuttle-less loom segment of rapier/projectile looms shipments increased marginally from 23,250 in 2012 to 23,830 in 2013, an increase of +2.5%. Also deliveries of shuttle-less air-jet looms increased from 23,300 in 2012 to 25,010 (+7%). As in previous years the main destination of shuttle-less looms was Asia, where 76,390 or 92% of all new shuttle-less looms were installed. Country-wise the biggest global investor was again China with 54,830 looms (66%), of which 30,590 were water-jet looms, 16,330 air-jet looms and 7,910 rapier/projectile looms. With 10,060 shuttle-less looms (12%) of global shipments India was the second biggest investor, followed by Indonesia (3,110 or 3.7%), Turkey (3,010 or 3.6%), Bangladesh (2,820 or 3.4%) and Korea (1,290 or 1.5%).

Circular & Flat Knitting Machinery
Global shipments of large circular knitting machines increased by +27% from 28,900 in 2011 to 36,640 in 2012 which set a new record. In 2013 the amount of machines remained practrically unchanged at 36,575. Also in this segment Asia was the main regional investor in this type of machinery absorbing 33,440 units or 91% of all new machines shipped in 2013. The biggest single investor was once more China with a total of 27,460 (a global market share of 75%) followed by India with 1,600 (or 4.4%), Turkey with 1,490 (or 4.1%), Bangladesh with 910 (or 2.5%), and Indonesia with 850 (or 2.3%).

In the segment of electronic flat knitting machines, global shipments in 2012 dropped by -34% to 46,100 machines. Also in 2013 global shipments recorded a decline of -24% to 35,180. The bulk of global shipments of electronic flat knitting machines was delivered to Asia (30,300 or 86%), while Europe’s share (including Turkey) reached 12% (4,350 machines). The biggest single investor in 2013 was China with 20,800 new machines (59%), followed by Bangladesh with 3,960 (11.3%), Turkey with 2,790 (7.9%), Hong Kong with 1,850 (5.3%) and Italy with 790 (2.3%).

Finishing Machinery
The 2013 edition of ITMF’s International Textile Machinery Shipments Statistics included for the nineth time also data on finishing machinery (wovens and knits continuous machinery).
 
Posted June 3, 2014

Source: ITMF

James Heal Debuts Maxi-Martindale Tester

United Kingdom-based testing equipment provider James Heal reports its Maxi-Martindale nine-station abrasion and pilling tester is the only Martindale tester that features a hinged top plate to offer easy access to all testing stations. Introduced earlier this month at Techtextil North America in Atlanta, the Maxi-Martindale also features an intuitive user interface to allow simple and quick setup, and a full range of accessories for testing different specimen types.
 
Manufactured in the UK, the Maxi-Martindale is one of four models offered in the company’s 1300 Martindale series of testers, which also include the Mini-Martindale with two stations, the Midi-Martindale with five stations and the Midi-Martindale (Carpet) modified for carpet testing.
 
James Heal is represented in North America by Greer, S.C.-based Advanced Testing Instruments (ATI).


James Heal’s Maxi-Martindale abrasion and piling tester

 
May 27, 2014
 
 
 

The Rupp Report: Who Is Competitive?

Competition is on everybody’s mind, and everybody must be competitive. But what is competition? And what does it mean to be competitive? And who needs competitiveness to survive? Moreover, what are the ingredients of competitiveness? And who is authorized to make a firm statement about all this?
 
World Competitiveness Yearbook
An institution that is certainly qualified to make a valid judgment about competitiveness is the International Institute for Management Development (IMD) in Switzerland. The institute describes itself so: “The IMD World Competitiveness Center is a part of IMD, a top-ranked business school. We are the experts in developing global leaders through high-impact executive education. Why IMD? We are 100 percent focused on real-world executive development. We offer Swiss excellence with a global perspective. And we have a flexible, customized and effective approach.”
 
Methodology
First published in 1989, the World Competitiveness Yearbook is an annual report on the competitiveness of nations. The yearbook ranks 60 world economies based on an “x-ray” of 338 criteria. Two-thirds of the data is based on national and international statistics. But how is IMD getting the results?
 
The World Competitiveness Yearbook reports on how nations are able to create and maintain an environment that fosters competitiveness among businesses. As IMD explains: “We assume that wealth creation takes place primarily at enterprise level … [T]his field of research is called ‘competitiveness of enterprises.’”
 
An important part of the survey is to understand that “enterprises operate in a national environment, which enhances or hinders their ability to compete domestically or internationally — this field of research is called: ‘competitiveness of nations’ and is covered in our research. The methodology divides the national environment into four main factors:
 

  • Economic Performance
  • Government Efficiency
  • Business Efficiency
  • Infrastructure”

 
These factors are broken down into sub-factors, taking into consideration the 338 criteria. As IMD reports, “Criteria can be hard data, which analyzes competitiveness as it can be measured (e.g. GDP) or soft data, which analyzes competitiveness as it can be perceived (e.g. Availability of competent managers). Hard criteria represent a weight of 2/3 in the overall ranking, whereas the survey data represent a weight of 1/3.”
 
IMD mentions that “some criteria are for background information only,” and adds, “Finally, aggregating the results of the 20 sub-factors makes the total consolidation, which leads to the overall ranking of the World Competitiveness Yearbook.”
 
… And The Winners Are …
Arturo Bris, Ph.D., director of the IMD World Competitiveness Center, commented on the results as follows: “The overall competitiveness story for 2014 is one of continued success in the US, partial recovery in Europe, and struggles for some large emerging markets. There is no single recipe for a country to climb the competitiveness rankings, and much depends on the local context.”
 
The United States is again in the number-one place, followed by Switzerland, again number-two. The number-one spot in 2014 for the U.S. is “reflecting the resilience of its economy, better employment numbers, and its dominance in technology and infrastructure,” IMD says.  Singapore rose from fifth place to third, while Hong Kong dropped from third place to fourth. The 10 top countries are:
 

Country Rank 2014 Rank 2013
USA 1 1
Switzerland 2 2
Singapore 3 5
Hong Kong 4 3
Sweden 5 4
Germany 6 9
Canada 7 7
UAE 8 8
Denmark 9 12
Norway 10 6

 
As one can see, there are no big changes among the top ten. “Small economies such as Switzerland (2), Singapore (3) and Hong Kong (4) continue to prosper thanks to exports, business efficiency and innovation,” IMD mentions. “Europe fares better than last year, thanks to its gradual economic recovery. Among Europe’s peripheral economies, Ireland (15), Spain (39) and Portugal (43) all rise, while Italy (46) and Greece (57) fall.
 
“Japan (21) continues to climb in the rankings, helped by a weaker currency that has improved its competitiveness abroad. In Asia, both Malaysia (12) and Indonesia (37) make gains, while Thailand (29) falls amid political uncertainty.
 
“Most big emerging markets slide in the rankings as economic growth and foreign investment slow and infrastructure remains inadequate. China (23) falls, partly owing to concerns about its business environment, while India (44) and Brazil (54) suffer from inefficient labor markets and ineffective business management. Turkey (40), Mexico (41), the Philippines (42) and Peru (50) also fall.”
 
The Image: A Matter Of Perception
Another interesting part of the survey is perception. “Seven of the top 10 countries in the overall ranking for 2014 are also in the top 10 for having an image abroad that encourages business development,” IMD states. “In general there is a strong correlation between a country’s overall competitiveness ranking and its international image as a place to do business.” For example, “executives in Singapore are most bullish on their country’s overseas image, while Ireland, Chile, Qatar and South Korea are all far higher on this criterion than in the overall ranking.
 
“By contrast, executives in the US, France, Taiwan and Poland are far gloomier about their countries’ international images. The US results may reflect international conflicts and domestic political gridlock, while perceptions of France continue to be colored by slow reforms and the country’s negative attitudes toward globalization.”
 
Communication: A Key To Success
This motto could — and probably should — be the start and the reason for many textile machinery producers to think about their policy of communicating to the outside world. To that point, Bris made an interesting comment: “While economic performance changes from year to year, perceptions are longer-term and shift more gradually. They can also lead to a virtuous circle of better image and better economic performance. So how executives feel their country is being perceived is a potentially useful guide to future competitiveness developments there.” Period.
 
June 3, 2014
 

Rockline Installs Geothermal System At Booneville, Ark., Plant

Rockline Industries Inc. — a Sheboygan, Wis.-based manufacturer of wipes and coffee filters — reports it has installed the United States’ largest geothermal heating and cooling system for use in a production facility at its plant in Booneville, Ark. The 1.2-million-square-foot plant is the first production facility in the nation to be both heated and cooled using geothermal technology.
 
“Rockline’s commitment to sustainability comes from our desire to exceed the expectations of our customers, and it’s the right thing to do,” said Nick Santoleri, vice president of operations, global wet wipes, Rockline. “A sustainable and responsible manufacturing process leads to better value and ensures a better, cleaner world in which we all can live.”
 
The Booneville plant’s conversion from a traditional heating, ventilation, and air conditioning system to a geothermal system is expected to reduce its reliance on overall energy and natural gas by 65 percent and company-wide greenhouse gas emissions by 25 percent.
 
June 3, 2014
 

Alexium Introduces BACTRON™ And OMNITRON™ For Upholstery And Furnishings

Australia- and Greer, S.C.-based specialty chemicals and solutions developer Alexium International Group Ltd. — holder of proprietary patent applications for Reactive Surface Treatment (RST) technology — has introduced two flame-retardant (FR) treatments for use on cotton and synthetic-cotton blends in the upholstery and furnishings market: BACTRON™, a fabric back-coating that is applied to one side of the fabric; and OMNITRON™, a topical treatment package that is impregnated into the fabric.
 
Alexium reports both treatments are easily applied using traditional textile processing equipment and are compatible with many other finishing agents such as antimicrobials and stain repellents. In addition, Bactron and Omnitron are free of halogen, formaldehyde and heavy metals; will not melt or drip and are self-extinguishing; are durable and launderable; do not significantly alter a fabric’s appearance and/or hand; and meet international FR standards.
 
June 3, 2014
 

SDL Atlas Introduces ThermaRate™ Thermal Barrier Test Apparatus

SDL Atlas — a Rock Hill, S.C.-based provider of textile testing instruments — has introduced the ThermaRate™ Thermal Barrier Test Apparatus for measuring the burn injury protection provided by fabrics in protective clothing for first responders, military and industrial applications. The instrument can replicate the effects of fabrics that are close to fires or extreme heat sources but not necessarily engulfed in a fire, as simulated by the Thermal Protective Test (TPP) described in National Fire Protection Association NFPA: 1971 Standard on Protective Ensembles for Structural Fire Fighting and Proximity Fire Fighting.
 
The ThermaRate features an automated computer-controlled system with a closed-loop controlled infrared radiant heat source, shutter, fabric sample holder, heat flux gauge and skin simulant sensor, as well as a PC-based data acquisition system with burn injury algorithms. The system allows the user to select the radiant heat flux level at the fabric sample, the irradiation time, and the air gap between the fabric sample and sensors; and choose to use a skin simulant tester or heat flux gauge output in the burn injury algorithm. After the user has selected the input values, placed a fabric sample in the holder, and initiated the sequence, the automated digital data acquisition system records the temporal data and provides graphical outputs during and after the test along with automated archival storage and a green/red indicator on the computer screen indicates whether the fabric has passed or failed the test based on whether the burn injury is below or above second-degree burn injury level in virtually real time.
 
The instrument may be used for research and development as well as for repetitive use in quality assurance applications.
 
June 3, 2014
 

INDA Acquires INSIGHT Conference From Marketing Technology Service, Inc.

CARY, N.C. — May 29, 2014 — INDA, the Association of the Nonwoven Fabrics Industry, has purchased the INSIGHT International Conference from Marketing Technology Service, Inc. (MTS) and will combine the long-standing event with its VISION Consumer Products Conference. Both events have focused on the absorbent product and disposable hygiene market segments.

The combined INSIGHT + VISION conference will be the largest of its kind in the industry and deliver greater value to attendees and exhibitors. The event is expected to draw attendees from around the world with an interest in buying, supplying or manufacturing absorbent products, high-performance fabrics and nonwovens in consumer products. It will continue to feature high-level business and technical presentations, networking opportunities, social events, tabletop exhibitions and award recognitions.

The acquisition, approved by the INDA Executive Committee and its Board of Directors, closed on May 29. Terms were not disclosed. Based in Kalamazoo, Michigan, MTS will continue to operate its other lines of business, including other nonwovens conference events, airlaid production facilities, consulting, testing equipment, product and material testing, market research and publishing, which are not part of the sale.

Jim Hanson, Director of MTS, commented, “I started INSIGHT in 1979 and it has been held every fall since then at many locations in North America. It’s had a consistent following of senior-level international delegates that we consider to also be our friends. So, as we organize and look forward to INSIGHT 2014, we won’t be saying goodbye to the industry — just shifting our focus. MTS will continue to sponsor Executive Short Courses and Absorbent Product Design Symposiums in Michigan, as well as continuing its Nonwovens Technology and other absorbent product conferences located outside of the Americas.”

“We will operate our final MTS INSIGHT this Oct. 19 to 23 in Indianapolis. As INDA merges its VISION conference with INSIGHT, starting October, 2015, I encourage our loyal following to support this new consolidated industry event. I look forward to INSIGHT + VISION advancing the interests of those in the absorbent products and disposable hygiene space.”

INDA President Dave Rousse added, “INSIGHT is a well-established, long-running event primarily serving the absorbent hygiene market, as is our own VISION conference. We are delighted to be able to combine these two respected industry events to create a single, larger and more impactful conference that streamlines the event calendar, consolidates attendee travel dollars, and better serves our members and the industry.”

INDA’s acquisition of INSIGHT has a significant impact on the event calendar for nonwovens and hygiene products overall. Below is a summary of these changes in the 2014-2015 time frame:

  • INSIGHT 2014 will take place as scheduled in Indianapolis, IN on Oct. 19-22 and will be organized by Jim Hanson and MTS, as previously planned; there will be no change to that event this year and INDA will provide promotional support.
  • INDA’s VISION 2015 Conference, currently scheduled in Miami, FL, Feb. 9-12, will be moved to the Oct. 26-30, 2015 time slot in St. Petersburg, FL and combined with INSIGHT.
  • INDA’s growing RISE (Research, Innovation, and Science for Engineered Fabrics) Conference currently scheduled for this Sept. 8-11 in Atlanta, GA will be moved to the VISION calendar slot and held Feb. 9-12, 2015 in Miami, FL.

Rousse added, “These are major changes to the industry event calendar that we believe will simplify and enhance the value of both VISION + INSIGHT and RISE. We encourage support of this year’s INSIGHT event in October, and added support for the movement of RISE out of a crowded fall slot into its own space in 2015. Once settled, we believe this sequencing of events offers a better value to the industry we serve.”

Posted June 3, 2014

Source: INDA
 

ICAC: World Trade To Decline For Second Season

WASHINGTON — June 2, 2014 — The volume of cotton traded internationally is expected to decline by 8% to 8.1 million tons in 2014/15, driven by reduced shipments to China from a record of 5.3 million tons in 2011/12 to an anticipated 2.1 million tons 2014/15. While the increased volume of trade benefited many exporting countries and farmers, it did not reflect improved demand for cotton. In 2011/12 when imports increased by 26% to 9.8 million tons, world consumption decreased by 7% to 22.8 million tons, the smallest consumption since 2003/04. While consumption is forecast to increase by 3% to 24.2 million tons in 2014/15, it remains below the level seen in the seven years before international cotton prices spiked.

In 2011/12, China implemented its policy of buying domestic and imported cotton for its national reserve and consequently became a large importer of cotton. Since 2011/12, the high price of cotton in China hurt its spinning industry, but helped the spinning industry in other countries, such as India, Pakistan, Bangladesh, Indonesia, and Vietnam. In 2012/13, the season after China’s implementation of its new cotton policy, India’s consumption grew by 12% to 4.8 million tons and is expected to grow by 7% to 5.4 million tons in 2014/15. Similarly, Pakistan’s consumption grew by 9% to 2.4 million tons in 2012/13 and is forecast to grow by 3% to 2.6 million tons in 2014/15. Bangladesh, Indonesia, and Vietnam also experienced similar growth in 2012/13 in consumption and should continue growing in 2014/15, though at a slower rate. In contrast, China’s consumption fell by 4% in 2012/13 to 8.3 million tons and is expected to fall by 1% in 2014/15 to 7.8 million tons.

In 2014/15, exports from Greece and the CFA zone are forecast to rise by 6% and 3%, respectively. However, exports from other large producing countries are expected to decrease in 2014/15. The United States’ exports are expected to decrease by 1% to 2.6 million tons while Australia’s exports are expected to decrease by 23% to about 800,000 tons. Additionally, India, the second largest exporter, could see a decrease of 21% to 1.1 million tons in 2014/15 as more of its cotton is consumed domestically.

World ending stocks are forecast to increase by 12% in 2013/14 to 20 million tons, and then to expand by another 5% in 2014/15 to 20.1 million tons. Additionally, ending stocks outside of China are expected to increase by 7% to 9.1 million tons in 2014/15 as China will be importing less of the surplus production than in the last 2 seasons. The projected accumulation of cotton stocks will weigh on international cotton prices in 2014/15, particularly as more stocks will be held outside of China.

Posted June 3, 2014

Source: ICAC
 

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