China returns to the second largest market for Indian cotton yarn exports in May

According to the latest import and export data, the total export volume of Indian cotton yarn (HS code 5205) in May 2024 was 91.3kt, a year-on-year increase of 13.92%, and a month-on-month increase of 4.22%. China reversed its decline and returns to the second position in the Indian cotton yarn export market, with the export volume to China in May being 7,369.21 tons, a decrease of 53.69% year-on-year and an increase of 53.27% month-on-month.

In terms of the market share of Indian cotton yarn exports in May, China has risen to the second position with around 8% of the export market, an increase of 3% compared to April 2024. Bangladesh maintains its position as the largest export destination for Indian cotton yarn, with a share of around 45%, representing a 2% increase compared to April. Portugal and Vietnam are the third and fourth largest export markets for Indian cotton yarn in May, with market shares of 6% and 5% respectively. The market shares of other countries were below 5%. Apart from Portugal, Vietnam, Egypt, and Peru, the market shares of exports to other countries have either increased or kept flat compared to May 2024.

In May, Indian cotton yarn exports to China decreased year-on-year but increased month-on-month. From the year-on-year changes, Colombia had the largest year-on-year increase, rising by 119.51%. Regarding month-on-month changes, China had the highest increase, reclaiming its position as the second largest market for Indian cotton yarn exports, with exports to China increasing by 27.66% compared to the previous month.

In May 2024, in the four mainstream Indian cotton yarns, exports to China decreased year-on-year while all rose on a month-on-month basis except for combed single yarn 30-47s. From the month-on-month changes, the most significant increase in export volume to China in May was combed single yarn 8-25s. In May, the main varieties of Indian cotton yarn exported to China were carded single yarn 8-25s, accounting for 59.39% of the total, with an export volume of 4376.79 tons. The combed single yarn 8-25s and combed single yarn 25-30s accounted for 15.46% and 9.60% respectively. The combed single yarn 30-47s accounted for 9.20% of the export volume, with a total of 678.17 tons exported.

In summary, Indian cotton yarn exports saw increases both year-on-year and month-on-month this month, with the main export markets being Bangladesh, China, Portugal, and Vietnam. Exports to China this month decreased year-on-year but increased compared to the previous month. In May, the export of the four main Indian yarns exported to China all decreased year-on-year, but all increased on a month-on-month basis except for combed single yarn 30-47s. The largest quantity exported among the four mainstream cotton yarns was the carded single yarn 8-25s.