For the 2006/07 marketing year, a further decline of about 5 percent in local cotton lint consumption is forecasted at this stage. Because of the small crop it is expected that about 65 percent of local spinners' cotton requirements will have to be imported during the current marketing year.
It is expected that a limited quantity of cotton lint, similar to the previous year, will again be exported in the 2006/07 marketing year.
The South African economy registered a real growth rate of approximately 5 percent in 2005.
The turnover for the South African textile industry declined from 2002 to 2003 with a slight increase in 2004. Turnover for textiles in 2005 amounted to R17.3 billion, a decrease of 1.5 percent while clothing's turnover increased by 1 percent to amount to R12.7 billion in 2005.
This decrease was the result of increased made-up cotton textiles and clothing imports. Lowpriced imports of finished good (i.e. household textiles and clothing) from China are still negatively affecting the local textile industry.
International Cotton Advisory Committee
marketing@alchempro.com
