NEW DEHLI: Spun yarn exports maintained its growth tempo in August 2015. After rebounding in June and Jul, export grew 21.5 per cent in volume terms while the rise in value term inched up 3 per cent.
In August, spun yarn exports (all kinds) shipments were at 117 million kg worth US$335 million or INR2,135 crore, implying per unit realisation of US$2.86 per kg. This was US cent 6 down from previous month and down US cents 50 from August 2014. It was also the lowest of many months. Meanwhile, the Rupee depreciated 6 per cent against the US$ in the comparable months.
China continued to propel yarn export from India, although unit value realization continued to decline hovering in the range of US$2.86-2.93 per kg on an average.
During August, 83 countries imported spun yarn from India, with China accounting for 44 per cent of the total value with its imports rising 88 per cent in terms of volume and 67 per cent in value YoY. Bangladesh, the second largest importer of spun yarns, accounted for more than 11 per cent of all spun yarn exported from India.
However, export to Bangladesh increased 17 per cent in volumes and 3 per cent in value. Egypt the third largest importer of spun yarns, saw volume and value both down 1 per cent and 18 per cent YoY, respectively. These three top importers together accounted for close to 60 per cent of all spun yarn exported from India in August.
In August, India did not export any yarn to Estonia, Nigeria, Malawi, Switzerland, Oman and Zimbabwe. In August 2014, they together imported US$0.70 million worth of spun yarns. Para-guay, Tanzania, El Salvador, Togo and Uruguay were the new major markets in August with total imports worth US$0.63 million.
Lithuania, Bahrain, Costa Rica, Cambodia, Romania, Canada and Argentina were the fastest growing markets in August, more than doubling their import from India. However, they together accounted for only 1.3 per cent of total exports. Denmark, Venezuela, Honduras, Chile and Greece reduced their imports from India significantly compared to a year ago.
