China slows down yarn import from India in September, up just 13pc

YarnsandFibers News Bureau 2015-10-23 14:08:00 – Mumbai

Spun yarn exports growth rate slowed down dramatically in September 2015 to 8 per cent in volume terms and 6 per cent in US$ term. All kinds of yarn shipments were at 118 million kg worth US$333 million or INR2,188 crore, implying per unit realisation of US$2.82 per kg. This was US cents 4 down from previous month and down US cents 42 from September 2014. It was also the lowest of many months. Meanwhile, the Rupee depreciated 5 per cent against the US$ in the comparable months.

After doubling of yarn import from India from June to August, China slowed down in September, although it continued to propel yarn export from India. The slow down was despite significant plunge in FOB value for most yarn. The unit value realisation averaged US$2.51 a kg for all yarns, down US cents 13 from August numbers and US cents 37 from last year. Average price offer, thus declined 13 per cent over the year. The possible slowdown in growth rate was also due high base effect. The year on year growth in September 2014 was 300 per cent both in terms of volume and value. Also the seasonal demand was tapering during this time of the year. October too may see a slowdown due to base effect.

During September, 88 countries imported spun yarns from India, with China accounting for 35 per cent of the total value with imports rising 30 per cent in terms of volume and 13 per cent in value YoY. In August, it had clocked YoY growth of 88 per cent in volume and 67 per cent in value.

Bangladesh, the second largest importer of spun yarns, accounted for more than 16 per cent of all spun yarns exported from India. However, export to Bangladesh increased 35 per cent in volumes and 20 per cent in value. Egypt, the third largest importer of Indian spun yarns, saw volume and value both down 13 per cent and 25 per cent YoY, respectively. These three top importers together accounted for close to 60 per cent of all spun yarn exported from India in September.

Export of cotton yarn was around 99 million kgs in September with 73 countries import worth US$278 million (INR1,810 crore) in September 2015. The average unit price realization was at US$2.82 a kg, down US cents 4 from previous month and US cents 46 down from the same month a year ago.

Iran, Argentina, Israel, Canada and South Africa were among the fastest growing markets for cotton yarn, more than doubling their imports in September and accounted for 2.3 per cent of total cotton yarn export value. Six new destinations were added for cotton yarn export, of which, Bahrain, Paraguay, El Salvador, Kenya and Eritrea were the major ones.

Only six countries did not import any cotton yarn from India, including Chile, Cambodia, Sudan, Costa Rica and Finland. They had imported yarns worth US$0.97 million in September 2014. In September 2015, significant deceleration was seen in export to Croatia, Syria, Brazil, Jordan and Venezuela.

Courtesy: YnFx – Fibre and yarn Exports - India

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