India failing to tap opportunity of rising global cotton yarn demand!

India’s cotton yarn export has dipped by 10 per cent in Jan. ’21 to US $ 250.50million, according to the official data released by Ministry of Commerce and Industry.

It is being said that there was a huge demand for cotton yarns in the international market in Jan.-Mar. ’20 period which is still continuing, but, seeing the data of January, it can be said India couldn’t tap the opportunity.

Cotton yarns’ exports to the top two export destinations – China and Bangladesh – declined significantly in Jan. ’21; however, the export grew in the next three destinations in the tally – Vietnam, Peru and South Korea.

The exports to China declined 13.90 per cent to US $ 58 million in the month of January, while the same valued US $ 50.29 million as far as Bangladesh was concerned – noting 24.88 per cent yearly fall.

Shipment to Vietnam noted 73.37 per cent rise as the cotton yarn export clocked US $ 20.49 million in Jan. ’21, compared to US $ 11.82 million in Jan. ’20.

Though there are countries where India has seen good growth in its cotton yarn export, the overall decline should worry the exporters.

See the below table to find out how India’s cotton yarn fared in its top 10 export destinations:

Y-o-Y % Change in Value-wise Cotton Yarn Exports from India to Top 10 Destinations:

 (Values in US $ million)