Cotton yarn export falls in November to reverse 5-month uptrend
Cotton yarn export was at 87 million kg worth US$239 million (INR1,755 crore), down 7.5% year on year in terms of volume and 7% in terms of US$. Thus, cotton yarn export during the first eight months of 2020-21 totaled 658 million kgs values at US$1,655 million or INR12,589 crore. Compared to exports during the same period of 2019-20, volume was up 8% while value realization in US$ terms was down 9%. However, it was slightly up in INR term, implying worsening of the INR value against the US$. Average FOB value in US$ term was down 12.5% and 6.6 in INR term.
Cotton yarns were shipped to 70 countries in November at an average price of US$2.74 a kg, up US cents 2 from previous month and US cent 1 from a year ago. They were exported to 70 countries during the month with China was on the top, followed by Bangladesh, Peru, Vietnam and Portugal. These five markets accounted for almost two-third of cotton yarn export.
Export to China managed to remain just above November 2019 levels, while that to Bangladesh declined 32% YoY. Peru and Vietnam almost doubled their imports of Indian cotton yarn while Portugal reduced them by 15%.
Among counts, 30s was the major one accounting for 25% of all cotton yarn exported in November. They were up 5% on volume and values compared to a year ago at an average FOB of US$2.77 a kg. 20s and 40s followed distantly with former rising 11% YoY while latter falling 16%. The top three markets of 30s cotton yarn were Bangladesh, Peru and China. 20s were largely exported to China, Vietnam and Peru while Bangladesh was he largest market of 40s.
All Yarns Exports
Spun yarns shipment totaled 110 million kg worth US$295 million or INR2,160 crore in November. They were down 6% than November 2019 in terms of volume and 7% down in terms of US$. Compared to October 2020, they were slightly up in November. China once again was the largest importer in spun yarns with value up 6%, followed by Bangladesh (-28%). These two markets accounted for about 41% to total yarn shipment during the month.
Basic Textile Exports
In November, basic textiles export comprising fibres, spun and filament yarns shipment was up 22% YoY in terms of US$ worth US$575 million or INR4,178 crore, accounting for about 2.3% of total merchandise exported from India during the month. The increase was mainly a recovery of sharp decrease of 26% seen in October 2019. Even compared with previous month, the increase was a mere 7%. On a cumulative basis, exports were still down 3% in the first eight months of 2020-21, compared same period a year ago.
