Polyester export declines for seventh straight month
Polyester export, comprising staple fibre, filament yarn and 100% spun, declined for the seventh straight month in June 2019. The decline that began in December refrains from reversing the trend with all its components posting negative year on year growth. June recorded the sharpest fall in last seven months of downtrend. The sharper decline can be explained by global economic issues and tariff war between the US and China. However, it was believed that India would substantially benefit from these events but it is not apparent yet. Overall merchandise exports were down in June while basic textile exports almost halved during the month.
In June, total polyester export was worth US$114 million, including US$24 million worth of staple fibre, US$81 million of filament and US$9 million of spun yarns. The major component, filament yarn exports were down by 30% in June while staple fibre exports slumped 19% and spun yarns by 23%. The statistics are presented below.
Polyester filament yarn was exported to 73 countries in June. But only Turkey and Brazil were the major markets accounting to almost 45% of the total export. They were distantly followed by Bangladesh and USA.
Polyester export of staple fibre was exported to 40 countries this June. The major markets were Bangladesh, USA and Belgium. Among the 9 markets which did not import polyester fibre this July, Ecuador was the major one which had imported US$0.5 million worth of fibre in June 2019.
100% polyester yarn export volume was 3.7 million kg worth US$8.84 million. They were exported to 49 countries during June at average unit price of US$2.39 a kg, up US cent 1 from last month and down US cents 9 from last year. Iran was the largest importer, followed by Turkey and Brazil. Export to Iran jumped more than 50% year on year while that to Turkey declined sharply by over 40%. Export to Brazil was also down by around 10%.
10 new markets were added to polyester yarn exports in June, with total volume at 0.25 million kgs worth US$0.52 million. Of these, South Africa was the major market. Yemen was the major country which did not import any polyester yarn from India. In last June, shipment to this market was worth US$0.2 million.
