As the garment exports have slowed down, the home market is absorbing lesser yarn. In May, a decline of 31 per cent was reported when the country exported just $241 million worth yarn. Off-take by Bangladesh and S.Due to higher Indian prices, China, our largest buyer, is now increasingly importing it from Vietnam, said Selvaraju.. Almost 60 per cent yarn mills, which are largely small and medium units, have cut their production. The exports have been falling steeper month-after-month.Financial Chronicle had recently written about how several mills are cutting down production and some have even stopped production.According to the yarn producers, lower demand from both export markets and the domestic market has hit the industry.
Cotton yarn exports are China 100D Polyester Fabric Manufacturers declining at an alarming rate as the shipments shrunk by 50 per cent in June and 35 per cent in the June quarter. By June, yarn exports fell 50 per cent to $188 million against $378 million in June 2018. China has also given duty-free access for import of cotton yarn from countries like Paki-stan and Vietnam from April 1, 2019.The total yarn export value for the past quarter stood at $696 million, 35 per cent down from $1063 million in the year ago quarter.”Exports are down, mainly due to lesser offtake by China,” said K Selvarjau, Secretary General, South Indian Mills Association. The domestic market too is sluggish. Some of them have cut the number of working days while some others have cut down shifts. In April, shipments declined by 21 per cent to $266 million from $337 million in April 2018. Higher cotton price also is making Indian yarn costlier. Korea also has become lesser. The Minimum Support Price of cotton in India is 25 per cent higher than the international rate, said G Balasubramanian, Secretary General, Northern India Textile Mills’ Association.
Tags: China Polyester Heart-shaped Mesh Fabric Manufacturers
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