TTMA President Phongsak Assakul: Brighter Outlook for Spinners

By Jim.Robinson|April 19, 2012

While Thailand’s textile exports have been hit hard recently due to flooding and market volatility, the country’s export sector overall is showing strong signs of growth, according to Phongsak Assakul, president of the Thai Textile Manufacturing Association (TTMA).

Assakul, who is also chairman of the Thai Chamber of Commerce, and CEO of the Bangkok Weaving Mills Group, will be welcoming attendees to the Cotton International 2012 Global Summit in Bangkok on Wednesday, 25 April. He says that the trend of rising exports should continue as industries hit by the floods of late 2011 resume production in the second quarter.

Textile imports in February 2012 were down 10.2% from the same month in 2011, but there are signs of a significant recovery, especially in cotton spinning.

Cotton imports for 2011/12 are expected to decline 20% to 30% this year to 1.3 million bales due to the global economic recession and widespread flooding. Spinning mills were particularly hard. While only about 4% of the textile industry overall were affected by the flooding, about 20% of spinners were forced to close down their facilities.

However, a recovery for spinning mills is expected for the 2012/13 season, with cotton imports expected to return to their previous levels of 1.6 million bales next year. After three straight months of decline, Thailand’s exports as a whole increased 0.9% year-over year in February 2011, exceeding $19 billion.