Sep 8, 2022
India’s H1 2022 yarn export up in value, but down in volume
Sep 8, 2022
India’s yarn exports declined in volume but increased in value during the first half of the current year. India exported 9.69 lakh ton yarn worth $3.472 billion during the period under review. Bangladesh remained the top buyer with 32.72% share, while Turkey stood second with import of 11.40% of all Indian yarn exports during the period.
The price rise in cotton improved foreign exchange earnings but discouraged export volume. According to Fibre2Fashion’s market insight tool TexPro, India exported 9.69 lakh ton yarn during the first half of the current year, which was valued at $3.472 billion. In comparison, during the first half of 2021, India exported 11.25 lakh ton yarn earning $3.144 billion. Therefore, yarn export increased in value terms in January-June 2022 over the corresponding period of the last year but declined in terms of volume.
However, the export of H1 2022 decreased in terms of value and volume both when compared with H2 2021 when 13 lakh ton yarn valued at $4.096 billion was exported. The arrival of new cotton crop in India beginning in October led to a jump in yarn export during the second half of the last year.
As per TexPro, Bangladesh imported Indian yarn of $1.136 billion (32.72%) out of the total shipment from India in January-June 2022. Turkiye was the second largest buyer with import of $395.849 million (11.40%) in the same period. Egypt, Portugal and the US were the other three nations among the top five destinations for Indian yarn exports with a share of 5.47%, 3.44% and 2.71% respectively. Other importers of Indian yarn among the top ten were Vietnam (2.69%), Peru (2.59%), China (2.59%), Italy (2.45%) and South Korea (2.26%).
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