China's imports of Indian cotton yarn increased sharply

According to the latest import and export data, the total export volume of Indian cotton yarn (HS code 5205) in February 2024 was 100,600 tons, an increase of 29.74% year-on-year and 22.38% month-on-month. China continues to maintain the second position in the Indian cotton yarn export market, with the export volume to China in February being 23,797.03 tons, an increase of 0.82% year-on-year and 55.61% month-on-month.

In terms of the market share of Indian cotton yarn exports in February, China maintained its second position with around 24% of the export market, showing a 5% increase compared to January 2024. Bangladesh remained the top exporter of Indian cotton yarn with a share of about 36%, a decrease of 4% from January. Vietnam and Peru followed as the third and fourth largest export markets for India in February, with shares of 6% and 5% respectively. The market shares of other countries were below 5%. Apart from Bangladesh and South Korea, the market shares of exports to other countries either increased or remained stable compared to January 2024.

In February, Indian cotton yarn exports to China increased slightly year-on-year and rose significantly month-on-month. From the year-on-year changes, Colombia saw the largest increase with a 130.67% rise. In terms of month-on-month changes, Colombia also experienced the highest increase. As the second largest export market for Indian cotton yarn, the exports to China increased by 55.61% compared to the previous month.

In Feb 2024, in the four mainstream Indian cotton yarns, except for the combed single yarn 25-30s, exports of the other three cotton yarns to China increased year-on-year. From the month-on-month changes, the largest increase in export volume to China in February was combed single yarn 30-47s. In Feb, the main varieties of Indian cotton yarns exported to China was carded single yarn 8-25s, accounting for 41.86% of the total, with an export volume of 9960.70 tons. The combed single yarn 8-25s and combed single yarn 25-30s accounted for 24.75% and 12.44% respectively. The combed single yarn 30-47s accounted for 13.24% of the export volume, with a total of 3150.26 tons exported.

In summary, Indian cotton yarn exports increased year-on-year and month-on-month this month, with the main export markets being Bangladesh, China, Vietnam, and Peru. Similarly, exports to China in Feb also increased year-on-year and month-on-month. In Feb 2024, the export of the four main Indian yarns exported to China largely showed increases compared to the previous year and month. Indian carded single yarn 8-25s exports were still the largest among the exports of the four mainstream Indian cotton yarns.