China lost its position as the second largest export market for Indian cotton yarn

According to the latest import and export data, the total exports of Indian cotton yarn (HS code 5205) was 110,800tons in January 2022, up 34.77% year-on-year but down 9.77% month-on-month. Bangladesh remained the largest export market for Indian cotton yarn, while China was overtaken by Turkey and reached the second largest export market for the first time since April 2021. Indian cotton yarn exports to China in Jan were 6944tons, down 68.1% from a year earlier and 42.1% from a month earlier.  

Judging from the proportion of Indian main cotton yarn export market in Jan 2022, China lost the second largest market for Indian cotton yarn and was overtaken by Turkey, accounting for about 6.2% of Indian cotton yarn export market in Jan 2022, down 4% from Dec 2021. Bangladesh, with a share of about 45%, remained the largest market for Indian cotton yarn, up 5% from Dec 2021. Turkey, now the second largest export market for Indian cotton yarn, accounted for 6.3%, down 3% from Dec 2021. Portugal, Egypt and Vietnam ranked fourth, fifth and sixth, accounting for about 5%, Peru accounted for 4%, South Korea accounted for 3%, and other countries accounted for less than 3%.

In Jan 2022, Indian cotton yarn exports to China were significantly lower than the same period last year. From the year-on-year changes, Turkey saw the largest year-on-year increase, up 1408.48%. From the month-on-month changes, with the exception of Bangladesh, Vietnam, Peru, Colombia and Guatemala, other markets declined by varying degrees. As the largest export market for Indian cotton yarn, the exports to Bangladesh rose slightly month-on-month and continued to take the first place in Jan 2022.

In Jan 2022, exports of four mainstream Indian cotton yarns to China all decreased year-on-year and month-on-month. The exports to China all reduced. In Jan 2022, the main varieties of Indian cotton yarns exported to China were carded C8-25S/1, accounting for 55.83%, and the export volume was 3,876.71 tons, down 60.14% from the same period last year. The proportion of combed C8-25S/1 and C25-30S/1 dropped by 3.78% and 17.17% respectively, down 92.91% and 67.28% respectively compared with the same period last year; while the export of combed C30-47S/1 decreased by 78.87% compared with the same period last year, and the export volume reached 552.61tons.

In conclusion, Indian cotton yarn exports in Jan 2022 moved down year-on-year but down month-on-month. Major export markets were Bangladesh, Turkey and China. The exports to China fell sharply year-on-year and month-on-month. In Jan 2022, the export of the four main Indian yarns exported to China all decreased compared with the same period last year, and so did the month-on-month comparison. Indian carded C8-25S/1 saw the largest export among the four mainstream Indian cotton yarns.