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India's silk exports to decline on rising yarn prices
07 Jan '12
1 min read
A sharp rise in silk yarn prices has rendered exports of silk fabrics from India uncompetitive, and the country's exports are likely to register a decline of 20-25 percent during fiscal 2011-12.
Silk yarn prices which prevailed at US$ 25 per kg in September 2010 soared to US$ 58 per kg in 2011. Around 80 percent of India's silk yarn imports are from China.
Over the past three years, silk fabric exports from the country are reflecting a declining trend, with export volumes falling by over 50 percent during the period.
During the first half of the current fiscal itself, exports dropped by about 35 percent, both in terms of value as well as volume.
However, with a fall in the value of rupee in dollar terms, exports are expected to rise during the second half of the current fiscal.
Over the past few months, the value of rupee has decreased by about 20 percent, which is expected to lay a positive impact on the bottom line of the exporters.
Last fiscal, India exported silk fabrics worth around US$ 560 million.
Silk yarn prices which prevailed at US$ 25 per kg in September 2010 soared to US$ 58 per kg in 2011. Around 80 percent of India's silk yarn imports are from China.
Over the past three years, silk fabric exports from the country are reflecting a declining trend, with export volumes falling by over 50 percent during the period.
During the first half of the current fiscal itself, exports dropped by about 35 percent, both in terms of value as well as volume.
However, with a fall in the value of rupee in dollar terms, exports are expected to rise during the second half of the current fiscal.
Over the past few months, the value of rupee has decreased by about 20 percent, which is expected to lay a positive impact on the bottom line of the exporters.
Last fiscal, India exported silk fabrics worth around US$ 560 million.
Fibre2fashion News Desk - India
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