In February 2021, India’s export of basic textiles comprising fibres, spun and filament yarns increased 24 per cent Y-o-Y to $822 million. As per a report by Textile Value Chain, they accounted for about 2.9 per cent of total merchandise exported from India during the month. Driven by a sharp increase in cotton exports, these exports increased by 6.8 per cent on a cumulative basis in the first 11 months of 2020-21, compared same period a year ago.
China, largest importer of spun yarns
Export of spun yarns increased by 3.4 per cent Y-o-Y to 111 million kg worth $530 million in February 2021. Compared to January 2021, these exports declined by 16 per cent. With its import value doubling over the year, China emerged as the largest importer in spun yarns, followed by Bangladesh whose imports declined by 14 per cent. Together, these two markets accounted for about 45 per cent to total yarn imports during the month.
The volume of cotton yarn exports increased to 86 million kg worth $284 million during the month. Most of this yarn was shipped to 72 countries at an average price of $3.30 a kg, up US cents 32 from previous month and US cents 38 from a year ago. China remained the top market for cotton yarn, followed by Bangladesh, Vietnam and Peru.
Polyester dominates India’s yarn exports
The exports of 100 per cent man-made fibre yarns reached 9.2 million kg in February 2021. Majority of this included polyester yarn with exports worth 3.9 million kg, viscose yarn with exports worth 2.8 million kg and acrylic yarn with 2.3 million kg exports. The value of polyester yarn exports was $8.2 million with Brazil being the largest importer followed by the US and Turkey. The value of viscose spun yarns exports was $9 million and with Turkey being the largest importer of viscose yarn, followed by Bangladesh and Belgium.
India exported blended spun yarns worth $42 million in February. This included export of 12 million kg of PC yarns and 2.8 million kg of PV yarns. Brazil was the largest importers of PC yarn from India followed by Peru while Turkey was the largest importer of PV yarns from India followed distantly by South Africa.
India’s export of all kinds of filament yarns increased to 61 million kg. It was valued at $102 million. Its export of Nylon and viscose filament declined sharply from its level a year ago while export of polyester filament yarn increased by 1 per cent Y-o-Y and those of PP filament yarns increased by 4 per cent.
Manmade fiber exports reach 34 million kg
During the month, India exported 34 million kg of manmade staple fibres. The total value of these exports was $38 million. Of this, the volume and value of Polyester staple fibre exports declined by 8 per cent. On the other hand, the volume of viscose fibre yarn exports increased by 9 per cent while their value increased by 14 per cent.
India’s export of cotton fibers declined in February 2021 though the volume of these exports increased by 71 per cent to1.11 lakh bales worth $332 million. Bangladesh emerged as the largest market for Indian cotton during the month, followed by China and Vietnam.
India’s export price realisation for cotton declined below the Cotlook A index to US cents 80.29 per pound during February. During the month, Cotlook averaged $93.60 per pound, maintaining the competiveness of Indian cotton competitive in the global market.