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India’s spun yarn exports in March 2017 declined 47.6 per cent in volume terms and fell 39.3 per cent in value terms. Spun yarn (all kinds) shipments were at 64.55 million kg worth US$198.6 million, implying per unit realization of US$3.08 per kg which rose US cents 13 from previous month and were up US cents 42 as compared to March 2016.

Related Keywords: Chinese investors, cotton yarn export, cotton yarn import, export prices of yarns, Indian textile industry, Indian yarn export, Spun yarn export, spun yarn import, top yarn exporting countries, top yarn importing countries, TPP, Vietnamese apparel plants, yarn export to bangladesh, yarn export to china, yarn export value, yarn export volume, yarn import from Vietnam

The deceleration in spun yarn exports of India slowed down in November 2016 having fallen 21 per cent in volume terms and 14 per cent in value terms. Spun yarn (all kinds) shipments were at 90.1 million kg worth US$261.1 million or INR1,733 crore, implying per unit realisation of US$2.90 per kg which was down US cents 11 from previous month and up US cents 24 as compared to November 2015.

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.

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

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.

Related Keywords: cotton yarn export, cotton yarn import, Spun yarn export, textile export from india, yarn import in Bangladesh, Yarn import in china, yarn import in Pakistan

Spun yarn exports from India were up 2 per cent in volume terms but down 8 per cent in value terms in January 2016. The marginal increase in volume reflect the weakening global demand while the decline in value is explained by falling FOB price and depreciating the INR. Total yarn shipments were at 103 million kg worth US$278.3 million or INR1,856 crore, implying per unit realisation of US$2.70 per kg, down US cents 30 from a year ago.

Related Keywords: cotton demand, cotton yarn import, purchasing power, spinning mills, yarn production

With China continuing to decrease cotton yarn imports from India, demand for cotton from domestic spinning mills for producing yarn is set to decline, it is also low purchasing power that has led to fall in demand for cotton.
 
According to K Selvaraju of South Indian Mills Association (SIMA) there have been fall in demand since April 15-20%, due to that cotton prices have already declined by around Rs 500 per candy and are expected to decline by another Rs 1000-2000 per candy owing to poor demand from spinning mills.
 

Related Keywords: cotton yarn import, ECC, Pakistan textile industry, textile export

The Economic Coordination Committee (ECC) of the Cabinet, which met under the Chairmanship of the Federal Minister for Finance Mohammad Ishaq Dar last week, has decided to withdraw SRO 15(I)/2010, which exempted cotton yarn import from custom duty of 5 percent, in order to check import of cotton yarn.

The value added textile, which contributes around 80 percent to Pakistan’s overall textile exports, has expressed disappointment on the withdrawal of the duty exemption on cotton yarn import as it would negatively affect the export of value-added textiles from Pakistan.

Related Keywords: cotton yarn import, garment manufacturer, spinner

The Pakistan spinners and garments manufacturers both having strong line of reasoning to support their positions over the duty on yarn imports the ministry is left to find a solution somewhere in the middle to protect the interests of both.

Aptma’s recent demand for withdrawal of the duty exemption on India’s yarn to restrict its imports after New Delhi announced the 4pc rebate on its exports after the EU grant Pakistan GSP+ status. Former Aptma-Punjab chairman Shahzad Ali Khan said that the rebate on its yarn exports means that India will become much cheaper than them.