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Silk exports to India crash

25
May '07
According to customs statistics, in January - March, China's silk merchandise exports to India reached US $72.39 million, down 12.05 percent from the same time of previous year, forming a market share of 9.01 percent.

China's exports of silk categories to India registered 1,708 tons, export value at $42.42 million, a drop of 11.64 percent and 17.71 percent, respectively.

Export price of silk categories averaged at $24.84 per kg, down 6.87 on a year-on-year basis, slightly higher than the average level of exports to the world.

There are three main reasons behind the overall decline in silk merchandise exports to India during January to March.

First, the continued appreciation of RMB directly increases the cost of export products. Silk goods exports face difficulty to maintain bigger profit space.

Secondly, the negative effects of India's 'silk anti-dumping case' against China, which to some extent continued to limit China's silk product exports to India.

The third factor is Indian inflation momentum is relatively strong, India's domestic consumption is declining, and silk imports are very likely to be affected.

Fibre2fashion, News Desk - China


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