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China maintains yarn import momentum from India in Jul, doubles volume |
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2015-9-7
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.
In July 2015, spun yarn exports (all kinds) shipments were at 118 million kg worth US$345 mil-lion or INR2,180 crore, implying per unit realisation of US$2.93 per kg. This was US cent 3 down from previous month and down US cents 47 from July 2014. Meanwhile, the Rupee depreciated 6 per cent against the US$ in the comparable months.
Eighty nine countries imported spun yarn from India in July, with China at the top accounting for 45 per cent in the total with its imports doubling both in terms of volume and value YoY. Bangladesh, the second largest importer of spun yarns, accounted for close to 11 per cent of all spun yarn exported from India. However, export to Bangladesh increased 2 per cent in volumes and fell 6 per cent in value. Egypt continued to be the third largest importer of spun yarns, with volume and value both down 18 per cent and 25 per cent YoY, respectively. These three top importers together accounted for 60 per cent of all spun yarn exported from India in July.
In July, India did not export any yarn to Cuba, Cote D'Ivoire, Eritrea, Botswana and Mozambi-que. They together imported US$0.90 million worth of spun yarns in the same month last year. Bahrain, Oman, C?te d'Ivoire, Paraguay, Togo, Serbia And Montenegro, Estonia, El Salvador, Benin, Zambia and Kyrgyzstan were the new markets in July with total imports worth US$1.75 million.
Nigeria, Mexico, Cambodia and Norway were among the fastest growing markets in June, more than doubling their import from India. However, they together accounted for only 0.5 per cent of total exports. Saudi Arabia, Latvia, Chile, Croatia and Czech Republic almost halved their imports from India compared to their levels a year ago.
Source:YnFx
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