India’s spun yarn exports in February 2016 were up by 22.8 per cent in volume terms while it declined 17.3 per cent in value terms. In the same month 87 countries imported spun yarn from India, with China accounting for 27.4 per cent of the total value with imports edging down 1.3 per cent in volume terms plunging 45.3 per cent in value. Bangladesh, the second largest importer of spun yarns, accounted for around 17.8 per cent of all spun yarn exported from India. However, export to Bangladesh surged 178.2 per cent in volumes and 16.4 per cent in value. Egypt was the third largest importer of spun yarns, which saw volume rising 3.3 per cent and value declining 5.3 per cent.

These three top importers together accounted for more than 50 per cent of all spun yarns exported from India in February. Pakistan, Turkey, Poland and Thailand were among the fastest growing markets for cotton yarn, and accounted for 9.1 per cent of total cotton yarn export value. Eleven new destinations were added for cotton yarn exports, of which Honduras, Finland, and Bulgaria were the major ones.

Chinese demand for Indian yarn has reduced due to rising imports from Vietnam.