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Related Keywords: China yarn import, cotton yarn export, cotton yarn import, Vietnam yarn export, yarn import india, yarn import pakistan

After Vietnam relegating India to second since March this year, now Pakistan pips India to third position in supplying cotton yarn to China. India was until February, the top cotton yarn supplying nation to China. In August 2016, Pakistan overtook India by supplying 34 million kgs of cotton yarn while India could ship only 21 million kgs and Vietnam heading at 61 million kgs. Exactly a year ago, India had exported 66 million kgs with Vietnam at 45 million kg and Pakistan at 41 million kg.

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India, which once led as a cotton yarn supplying nation to China is now been relinquished to second position. This was done by not so powerful as an economy or a textile giant, Vietnam. And this not the story of aberration, it has been the top supplier of cotton yarn to China since March 2016, when it overtook India. And that too, at a much higher unit price realization than India and also Pakistan, the lowest in the rung.

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China, the top importer of cotton yarn from India, has significantly reduced its sourcing in recent past. However, India continues to be the major supplier of cotton yarn for China. China has simultaneously reduced yarn imports from the World over the past one year. In July, India’s cotton yarn exports to China plunged 75% year on year, both in terms of shipment and value. During the month, shipment was just 17 million kgs valued at US$285 million as against 66 million kgs worth US$1,118 million last year.

Related Keywords: China yarn import, cotton export, cotton yarn, spun yarn, Vietnam yarn import, yarn export

India exported 101.8 million kg of spun yarns worth US$283 million or INR1,881 crore in June 2016 at an average realisation of US$2.78 per kg. This was significantly lower compared to same month a year ago. Export volume was down 12% YoY and value declined 17% in US$ terms. The drop also reflects the lean season for global textile industry in this part of the year.

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Spun yarn exports in April 2016 jumped 12 per cent in volume terms and were up 1.7 per cent in value terms. Spun yarn (all kinds) shipments were at 112.2 million kg worth US$299 million or INR1,971 crore, implying per unit realisation of US$2.66 per kg.

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The recovery in spun yarn exports is here to stay. Continuing with the significant rebound in June, July too posted a higher growth. Export grew sharply by 35 per cent in volume terms while the rise in value term was 16 per cent. The growth again emerged from the retained momentum of imports of yarns by China from India. For the second month in a row, China’s import of Indian spun yarn jumped in July. However, overall unit value realization continued to inch down hovering in the range of US$2.93-2.96 per kg on an average.

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Exports to China has sprung back to over 50 million kg in February 2015 after hovering around 30-40 million from April to October and in January. In February, export of spun yarn to China jumped 19 per cent year on year in terms of value and 38 per cent in volumes. It imported 53.3 million kg of yarns worth US$140 million.

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A weaker rupee and steady demand from China and US had helped the textiles exports in the past year. From April, demand for raw material like yarn from China has fallen dramatically and inventory levels have risen. Further, falling cotton ribre prices have been asserting pressure on yarn pricing and cutting unit value realisation, although rupee continues to remain weak.

Spun Yarn Exports Plunge

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