India's Exports Of Cotton Yarn Decreased By 22% Compared With The Same Period Last Year.

 

Due to the decrease in import demand in China and Bangladesh, India's cotton yarn inventory has been overloaded, so India's cotton mill has reduced production. India Cotton Textile Export Promotion Association said that the slowdown in China's economic growth has led to the pressure on global cotton demand. This year, demand for cotton yarn has declined in China, Bangladesh, Pakistan and Europe.

 

What is more serious is that the high domestic cotton prices in India have led to a serious decline in the profits of India cotton mill, and also exacerbated the decline of India's cotton yarn exports. At present, the order of India cotton yarn manufacturers is gradually losing, and orders from China are being taken away by Pakistan and Vietnam.

 

India is the world's largest exporter of cotton yarn and has an important position in China, Bangladesh, Pakistan, Vietnam and South Korea. In 2018/19, the export of India cotton yarn to China increased, accounting for 1/3 of China's cotton yarn imports. Last year, India's cotton yarn exports to Vietnam increased by 72%. This year, the export of India's cotton yarn to China, Bangladesh, Pakistan and Europe has declined. The cotton mill has been forced to turn its sales to the domestic market, while India's increasing import of Bangladesh clothing has made India's cotton mill on pins and needles.

 

Since the year of 2018/19, India's import of Bangladesh has increased by 82% to 365 million US dollars, and most of the fabrics used are imported products from China.