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India's cotton yarn export registration dips in April'14
08
Jul '14
The registration of cotton yarn for exports from India decreased to 99.926 million kg in April 2014, which is lowest since May 2013, data from the Directorate General of Foreign Trade (DGFT) shows.
 
April 2014 cotton yarn export registration is about 13.82 percent lower than registration of 115.96 million kg during the same month last year.
 
In January 2014, cotton yarn export registration stood at 143.813 million kg, followed by registration for 103.124 million kg in February and 111.738 million kg in March, according to the DGFT.
 
The decline in cotton yarn export registration reflects a fall in demand from China, India’s main cotton yarn export destination.
 
Another reason for drop in cotton yarn export registration was the depreciation of the Indian rupee vis-à-vis the US dollar. At the beginning of April, rupee was traded at Rs. 59.89 per dollar, which hit a low of Rs. 61.09 per dollar in the same month.
 
According to an analysis done by the Southern Indian Mills Association (SIMA), in 2013-14, India’s cotton consumption increased 8.86 percent, yarn production rose 8.79 percent, yarn deliveries climbed 7.94 percent, registrations for cotton yarn exports surged by 33 percent and month-end average stock of all yarns mounted by 15 percent.
 

Fibre2fashion News Desk - India

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