Yarn Export Momentum Halts in March 2024
Spun yarns shipment totaled 128 million kg worth US$383 million or INR3,138 crore in March 2024, down 8% year on year. The momentary surge seen in February has apparently come to a standstill. Yarn export during that month was up 20% (16% seasonally adjusted). The unit value realization of all types of spun yarn averaged US$3.00 per kg. Bangladesh was the largest importer of spun yarns during the month, followed by China and Vietnam. Exports to Bangladesh jumped 32% from a year ago while those to China were down 45%) while that to Vietnam rose 38%.
Cotton yarn export
Cotton yarn export was at 99 million kg worth US$310 million (INR2,539 crore). Volume shipment was up 5% (9%) year on year, while revenue earning fell 6% in US$ term. These were shipped to 68 countries at an average price of US$3.12 a kg, down US cents 36 from March 2024. Bangladesh was the top importer of cotton yarn, followed by China, Vietnam, Egypt and Portugal. China’s imports of Indian cotton yarn during the month fell 45% while exports to Bangladesh jumped 32% and that to Vietnam was up 41%.
100% non-cotton yarn
100% man-made fibre yarn export extended their decline and were down 21% at 8.77 million kg, worth US$23 million, comprising 4.49 million kg of polyester yarn, 2.22 million kg of acrylic yarn and 2 million kg of viscose yarn.
Viscose yarn worth US$6.28 million or INR51 crore were exported at an average price of US$3.14 per kg in March. The major markets were Turkey followed by Bangladesh and Portugal. Polyester spun yarns worth US$8.72 million were exported at an average unit price of US$1.94 a kg. Brazil was the largest importer of polyester yarn, followed by USA and Morocco.
Blended yarn export
Blended spun yarn export was worth US$50 million in March, including 12.97 million kg of PC yarns and 4.65 million kg of PV yarns. Bangladesh was the top importers of PC yarn from India followed by Egypt and Portugal while Turkey was the single largest importer of PV yarns from India followed distantly by South Africa and Brazil.
In March 2024, basic textiles comprising all fibres, spun and filament yarns shipment were worth US$619 million or INR5,073 crore, accounting for just 1.5% of total merchandise exported from India during the month.
