Spun yarn exports down

SPUN YARN EXPORTS DOWN IN SEPTEMBER FROM AUGUST

TEXTILE BEACON

In September 2021, basic textiles comprising fibres, spun and filament yarn’s shipment were worth US $818 million, or INR5,931 crore, accounting for about 2.4% of total merchandise exported from India during the month. Spun yarn’s shipment totaled 139 million kg, worth US $510 million or INR3,700 crore. This was sharply lower than the values in August 2021 and moderately higher in volume compared with the corresponding month in 2020, although values were driven up by a sharp increase in unit value realization. The unit value realisation of all types of spun yarn averaged US$3.68 per kg, about US$1.20 up year on year. Bangladesh was the largest importer of spun yarns during the month, followed by China and Peru. Cotton yarn exports were valued at 108 million kg, worth US $417 million (INR3,030 crore). These were shipped to 69 countries at an average price of $3.86 a kg, up US cents from the previous month and up US $1.80 from September 2020. Bangladesh was the top importer of cotton yarn, followed by China, Peru, Portugal, and Egypt. 100% man-made fibre yarn exports were over 11.16 million kg, comprising over 5.87 million kg of polyester yarn, 2.50 million kg of viscose yarn and 2.30 million kg of acrylic yarn. Viscose yarn was worth US $9 million or INR63 crore and was exported at an average price of US $3.50 per kg in September. The major market was Bangladesh, followed by Belgium, Turkey and Brazil. Polyester spun yarn exports were worth US $13 million, exported at an average unit price of US $2.29 a kg. Brazil was the largest importer of polyester yarn, followed by Turkey and the USA. Blended spun yarns worth US$63 million were exported in September, including 125 million kg of PC yarns and 4 million kg of PV yarns. Bangladesh was the largest importer of PC yarn from India, followed by Egypt and Brazil, while Turkey was the single largest importer of PV yarn from India, followed distantly by Bangladesh. All kinds of filament yarn’s shipment totaled 60 million kg, valued at US $111 million or INR805 crore.

Cotton shipments in September were 3.80 lakh bales worth INR1,090 crore, or US $150 million. This brings the total export for the 2020-21 marketing season to 109 lakh bales valued at US $24,870 crore ($3,420 million).Bangladesh was the largest importer of Indian cotton during September, followed by Vietnam, Indonesia, China, and Taiwan. Cotton export unit price realisation averaged INR169 per kg, or US cents 105.79 per pound, in September. This was just below the benchmark of the Bloomberg A index, the global spot price benchmark, and much higher than the domestic spot price for the benchmark Gujarat Shankar-6. Cotlook averaged US $107.28 per pound during the month, while Shankar-6 was US cents 96.64 per pound. The government has set an ambitious target of achieving US $100 billion in textile exports over the next five years, and has ensured it will remain committed to the implementation of all development schemes and bring in many more schemes in pursuit of this aspiration. Unfortunately, the official portals of the Textile Commissioner and the Union Ministry of Textiles have stopped publishing any statistics on the Indian textile industry. So the basis of this target appears even more vague.