Cotton yarns’ export from India continues to shoot up and the same has gone historically high in January ’22.
The country has shipped US $ 493.30 million worth of cotton yarns in the first month of 2022 (up 96.92 per cent on Y-o-Y basis), which is the highest ever export revenues in the category in January month.
As per an analysis done by Apparel Resources using official figures, the previous best export revenue in cotton yarns was US $ 435.73 million, that too back in January ’14.It’s worth noting here that, despite domestic outrages, India clocked US $ 4.69 billion export revenues in cotton yarn during 2021, noting 79.64 per cent yearly growth.
The shipments to Bangladesh and Turkey have remained unstoppable with US $ 220.45 million and US $ 32 million revenues coming from these two countries.
On one hand, cotton yarn export to Bangladesh grew by a whopping 338.36 per cent in January ’22 over January ’21; Turkey, on the other hand, opened new growth avenues for India with massive 1,503 per cent yearly growth, as shipment to this country was merely US $ 2 million a year ago.
What’s interesting is the downfall of China as Indian cotton yarn shippers seem to be moving away from this country, while looking out for other potential markets where Indian cotton yarn can dominate.
The exports to China declined by 59.24 per cent in January ’22 to US $ 23.65 million, as against US $ 58 million in the same month of 2021.
Even Portugal stayed ahead of China with the import values of Indian cotton yarns reaching US $ 25.78 million, growing by an impressive 324.86 per cent annual rate during January ’22.
