As per a Textile Beacon report, India’s cotton yarn exports declined 7.5 per cent in volume to 87 million kg and 7 per cent in value to Rs 1,755 crore during the first eight months of 2020-21. Compared to exports during the same period of 2019-20, volume increased 8 per cent while value realization in rupee terms increased slightly, implying worsening of the rupee value against the dollar.

Shipment of cotton yarns to 70 countries in November increased 2 cents to $2.74 a kg, from previous month and 1 cent from a year ago. Export to China managed to remain just above November 2019 levels, while that to Bangladesh declined by 32 per cent. Exports to Peru and Vietnam almost doubled their imports of Indian cotton yarn while Portugal reduced them by 15 per cent. Shipment of spun yarns totaled 110 million kg worth Rs 2,160 crore in November.

Shipments declined 6 per cent than November 2019 in terms of volume and 7 per cent down in terms of their value in dollars. China once again was the largest importer in spun yarns with its import value increasing by 6 per cent, followed by Bangladesh. Together, these two markets accounted for about 41 per cent to total yarn shipment during the month.