Egypt and Bangladesh were the largest importers of PC yarn from India in July, followed by Turkey. South Korea and Bahrain were the major destinations among the 16 new markets found in July. The US, Argentina, Sri Lanka and Portugal were the fastest growing markets for PC yarns while Mexico, Venezuela and Ukraine significantly reduced their import of PC yarns from India.
In July, $9.8 million worth of PV yarns were exported from India. Turkey and Pakistan continued to be largest importers of PV yarns from India in July with a total volume at 1.95 million kg worth $5.7 million. Tunisia was the new major market for PV yarn from India.
China’s demand for cotton yarn has dropped considerably due to a change in policies. Margins on some products are negligible at the moment while some products are selling at a loss as well. China has also reduced its fabric production due to which yarn imports have been impacted. Indian spinners hope for a revival of cotton yarn demand, once the festival season sets in. The revival of US economy and the Euro zone will help spur demand.