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Indian cotton exports drop 11.58% in April-June quarter
18 Oct '16
1 min read
Indian cotton yarn exports dropped 11.58 per cent in value and 4.44 per cent in volume during the first quarter of fiscal 2017 ended June, as against the same period last fiscal. Average cotton yarn exports from India which used to stand at 140 million kg per month have declined to around 100 million kg currently, driven by lower exports to China.
“China, India's biggest cotton yarn importer, bought 99.09 million kg of yarn in the April-June 2017 quarter as compared to 149.66 million kg in the corresponding quarter of prior fiscal, down a massive 33.78 per cent, a leading daily quoted M. Senthil Kumar, chairman of Southern India Mills' Association (SIMA) as saying.
This has also led to lower utilisation in mills. India has capacity to produce 500 million kg of yarn vis-à-vis which, capacity utilisation is only 470 million kg currently.
However, exports to Bangladesh, which is the second biggest buyer of Indian cotton yarn, witnessed exports shooting up by 38.87 per cent year over year in value and 52.1 per cent in volume during the same period. (AR)
“China, India's biggest cotton yarn importer, bought 99.09 million kg of yarn in the April-June 2017 quarter as compared to 149.66 million kg in the corresponding quarter of prior fiscal, down a massive 33.78 per cent, a leading daily quoted M. Senthil Kumar, chairman of Southern India Mills' Association (SIMA) as saying.
This has also led to lower utilisation in mills. India has capacity to produce 500 million kg of yarn vis-à-vis which, capacity utilisation is only 470 million kg currently.
However, exports to Bangladesh, which is the second biggest buyer of Indian cotton yarn, witnessed exports shooting up by 38.87 per cent year over year in value and 52.1 per cent in volume during the same period. (AR)
Fibre2Fashion News Desk – India
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