Cotton Price to Influence Textiles
The record price achieved for cotton would increase operating costs for enterprises in 2011.
Tuesday, November 2, 2010
The contract for December delivery closed at $ 1.2463 a pound on Friday, versus $ 1.1971 the previous week, according to Dean Garcia, director of the Nicaraguan Association of Textile Industry. In the last three months the price has increased by 56%.
Guatemala's textile industry is changing from exporter of finished products to one that provides raw materials to manufacturers in other Central American countries.
A report by the Business Intelligence Unit at CentralAmericaData.com notes that in 2015 Central American countries imported $318 million worth of yarns, filaments and textiles, led by El Salvador with $157 million.
In the agreement between the region and South Korea the rule of origin for Salvadoran Textiles was recognized, which will prevent the importation of fabrics to later be used in the manufacture of garments in El Salvador.
The guild is analyzing looking for new markets to buy raw materials for the manufacture of textiles, if the US does not renew the tariff preferences.
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