Indian cotton yarn exports are likely to reach an all time high in the current fiscal year due to the increasing cotton yarn imports by China.
Textile Commissioner Mr. AB Joshi said the country is expecting around 1000 million kg of yarn exports in the current fiscal year, according to the Business Standard report.
For the last fiscal year, India exported 827.68 million kg of cotton yarn compared to estimated exports of 920 million kg.
China is expecting more cotton yarn from India and it accounts for around 30 percent of Indian cotton yarn exports. The cotton price in China is US$ 1.4/pound while the price in India is 85 cents/pound.
India’s cotton yarn exports stood at 758 million kg in the April-December 2012 period, up 20 percent compared to yarn exports in the same period in 2011.
Similarly, in the April-November 2012 period, India produced 2,317 million kg of cotton yarn, which is 14 percent higher compared to the yarn production in the same period in 2011.
