MUMBAI, India — May 26, 2014 — A study conducted by The Cotton Textiles Export Promotion Council, (Texprocil) has revealed that India’s Cotton Yarns exports are meeting their targets barring the seasonal fluctuations generally witnessed every April and inspite of high raw cotton prices. Statistics revealed by Texprocil show that India exported 1,082 mn kgs of cotton yarn valued at US$ 3.75 billion in the first 10 months (April – January) of fiscal year 2013-14. It is estimated that cotton yarn export for the full fiscal year 2013-14 would be around 1,350 mn kgs valued at US$ 4.70 billion. The high quality of Indian yarn is ensuring firm orders for Indian Mills from the international markets.
Exports of cotton yarn dropped during last three years in the month of April and it happened in 2014 too. One of the reasons, in addition to the high year end exports which cause a drop in April, is the temporary high cotton prices during this period. Last year as well as this year during the month of March and April, Indian cotton prices have gone above the international prices for cotton up to 40s count. Current Indian prices are higher than international prices and good quantity imports of 1 1/8 inch cotton are taking place.
There is an increasing anxiety in the industry due to recent developments in Chinese cotton policy since China is the major importer of cotton and cotton yarn from India. Presently, the price difference between Indian & Chinese