China slips to the second largest market for Indian cotton yarn

According to the latest import and export data, the total export volume of Indian cotton yarn (HS 5205, the same below) in September 2023 was 103,100 tons, a year-on-year increase of 293.11% but a month-on-month decrease of 11.12%. China slipped to the second position in the Indian cotton yarn export market. In September, the amount of Indian cotton yarn exported to China was 24,328.02 tons, a year-on-year increase of 1836.13% but a month-on-month decrease of 44.62%.

From the market share of Indian cotton yarn exports in September, China slipped to the second position, accounting for approximately 24% of the Indian cotton yarn export market, a decline of 14% compared to August 2023. Bangladesh accounted for approximately 41% of the market share, once again becoming the largest destination for Indian cotton yarn exports and experiencing a 15% increase compared to August. Egypt was the third-largest export market for Indian cotton yarn in September, accounting for 5% of the market share. The market shares of other countries remained below 5%. Apart from China, Portugal and Turkey, the market shares of other countries in terms of Indian cotton yarn exports either increased or remained stable compared to August 2023.

From the data, it can be seen that cotton yarn exports to China in September showed a year-on-year increase but a month-on-month decrease. In terms of year-on-year data, Bangladesh had the highest growth rate, with a staggering increase of 4547.78%. In terms of month-on-month changes, Bangladesh also experienced the highest increase. As the second-largest market for Indian cotton yarn exports, the amount of cotton yarn exported to China decreased by 11.08% compared to the previous month.

It can be observed that the export volumes of the four main varieties of Indian cotton yarn to China increased on a year-on-year basis. In terms of month-on-month changes, the export volume of the combed single yarn 30-47s saw an increase. In September, the main varieties of Indian cotton yarn exported to China were the carded single yarn 8-25s, accounting for 28.40% of the total and with an export volume of 6,909.52 tons. The combed single yarn 8-25s and the combed single yarn 25-30s accounted for 12.74% and 8.38% respectively. The combed single yarn 30-47s accounted for 30.06% of the export volume, with a total of 7,313.84 tons.

To summarize, Indian cotton yarn exports increased on a year-on-year basis but decreased compared to the previous month. The main export markets were Bangladesh, China, and Egypt. In September, exports to China also increased on a year-on-year basis but decreased compared to the previous month. The export volumes of the four major varieties of yarn to China all increased on a year-on-year basis, with a month-on-month increase accounting for only 25% of the total. Among the four yarn varieties, the largest export volume was the combed single yarn 30-47s.