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India’s Cotton Yarn Exports to Cross $4.7 billion in 2013-14

India’s Cotton Yarn Exports to Cross $4.7 billion in 2013-14

27 May 2014

INDIA - India’s cotton yarn exports is estimated to cross $4.7 billion during the 2013-14 financial year (April 2013-March 2014), as per a study conducted by the Cotton Textiles Export Promotion Council, (Texprocil).

As per the statistics released by Texprocil, India exported 1,082 mn kgs of cotton yarn valued at $3.75 billion in the first 10 months (April - January) of fiscal year 2013-14 and is estimated that cotton yarn export for the full fiscal year 2013-14 would be around 1,350 mn kgs valued at $ 4.70 billion.

The cotton exports have increased in spite of high raw cotton prices. The high quality of Indian yarn is ensuring firm orders for Indian mills from the international markets, Texprocil statement adds.

"Given the better quality produced by Indian mills there will always be good exports of Indian yarns taking place, even if the difference between Chinese cotton prices and international cotton prices narrows down substantially. Indian mills need not fear a drop in yarn exports happening beyond the seasonal fluctuations,” Manikam Ramaswami, Chairman, Texprocil said in a statement.

“However profitability of exports will depend upon our price parity with International cotton prices," Ramaswami adds.

Exports of cotton yarn dropped during last three years in the month of April and it happened in 2014 too. One of the reasons, in addition to the high year end exports which cause a drop in April, is the temporary high cotton prices during this period.

Last year as well as this year during the month of March and April Indian cotton prices have gone above the international prices for cotton up to 40s count. Current Indian prices are higher than international prices and good quantity imports of 1 1/8 inch cotton are taking place, Texprocil said.

Presently, the price difference between Indian and Chinese cotton is quite high with the Indian yarn selling at much lower rates. In fact, prices of Indian cotton yarns after payment of duty and taxes in China are still very much lower than the Chinese domestic yarn prices, Texprocil statement stressed.

TheCropSite News Desk

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