India’s cotton yarn exports grew 34.77 per cent year-on-year to 110,800 tons in January 2022. However, exports have declined 9.77 per cent on a month-on-month basis, as per a CCF Group report. With a 45 per cent share, Bangladesh remained the largest market for Indian cotton yarn. Exports to the country increased 5 per cent from December 2021
Turkey overtakes China as second largest export market
Earlier the second largest export destination, China was overtaken by Turkey as exports to the nation declined 68.2 per cent on a year-on-year basis and 42.1 per cent on a month-on-month basis. China accounted for about 6.2 per cent of Indian cotton yarn export market in January 2022. Its share declined 4 per cent from December 2021. Turkey’s market share in India’s cotton yarn exports declined 3 per cent. Accounting for 5 per cent market share, Portugal, Egypt and Vietnam emerged as fourth, fifth and sixth largest export markets for India. Peru accounted for 4 per cent, South Korea accounted for 3 per cent, and other countries accounted for less than 3 per cent.
In January 2022, Indian cotton yarn exports to Turkey saw the largest year-on-year increase of 1,408.48 per cent. Exports to China declined significantly from the same period last year. Exports to markets other than Bangladesh, Vietnam, Peru, Columbia and Guatemala also declined on a month-on-month basis. Exports to Bangladesh rose slightly on a month-on-month basis to make it largest export destination in January 2022.
Export of all four varieties to China declines
Export of all four mainstream Indian cotton yarns to China decreased year-on-year and month-on-month in January 2022. Export of carded C8-25S/1 variety of cotton yarn accounted for 55.83 per cent, while its export volume declined by 60.14 per cent to 3,876.71 tons from the same period last year.
Export share of combed C8-25S/1 and C25-30S/1 dropped by 3.78 per cent and 17.17 per cent respectively from the same period last year; while the export of combed C30-47S/1 decreased by 78.87 per cent compared with the same period last year.
