India's H1 2022 yarn export up in value, but down in volume

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 per cent) 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 per cent) 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 per cent, 3.44 per cent and 2.71 per cent respectively. Other importers of Indian yarn among the top ten were Vietnam (2.69 per cent), Peru (2.59 per cent), China (2.59 per cent), Italy (2.45 per cent) and South Korea (2.26 per cent). 

ALCHEMPro News Desk (KUL)