Exports of India's Fine Yarn Increase Significantly

In June 2010, the export volume of India's fine yarn increased significantly, although the market entered the off-season. The main reason is that prices are good, so the amount of exports in the month has increased sharply. The high average price is due to the increase in input costs and the improvement in demand.

In the same month, exports totalled Rs 934 crore, a year-on-year increase of 59%, slightly higher than the highest record set in March 2010. During the same period, the rupee appreciated by 1%. In terms of U.S. dollars, the value of exports increased by 60% and the number increased by 15%. In June 2010, about 53 million kilograms of spun yarn was exported, worth US$201 million. In the same period last year, it exported 46 million kilograms worth US$125 million.

The average unit price was 3.79 U.S. dollars per kilogram, compared with 2.71 U.S. dollars per kilogram in the same period of last year, indicating a 40% increase. It increased 31 cents from the previous month. Therefore, in the first three months of 2010-11, exports totaled 145 million kilograms worth US$520 million, or Rs 1,764 crore.

In June 2010, Indian fine yarn was exported to 84 countries, of which Asian destinations accounted for 46% of India's total exports, and Western Europe accounted for 16%. The proportion of South America is slightly over 15%. The Middle East ranks fourth, accounting for 14%.

Compared with the same month of last year, exports to Asian countries increased by 68% in June this year, doubled exports to Western Europe, and increased exports to the Middle East and South America by 72% and 63% respectively. This month’s report has significantly reduced the volume and amount of exports to North America, Africa, and Oceania countries. Exports to the CIS countries increased by 12% to US$3.14 million, while exports to Eastern Europe increased by 43% to nearly US$4 million.