During the month, exports aggregated Rs.695 crore, up 39% from last year. With INR appreciating 5.6% during the same period the value in terms of US$ increased 47% and volumes up 45%. About 53 million kgs of spun yarn was exported valued at US$149 million in December 2009 as against 36 million kgs and US$101 million last year. The overall unit price realization averaged US$2.82/kg as against US$2.9/kg last year, implying an increase of 1.3%. It was also higher than the realisation a month ago by about US cents 11 per kg on an average.
The growth in spun yarn exports was in line with overall foreign trade trend. India's shipments increased over 9% in December, marking a positive growth for the second month in a row.
In December 2009, spun yarn was exported to 82 countries. Of these Asian destinations ac-counted for 39% of export value, while West Europe accounted for another 18%. The third largest region was South America where 16% was exported and Middle East followed closely with a share of 14%. Reckoned with last year, export to Asian countries was up 68% this December while that to South America increased by a whopping 137% and by an encouraging 34% to West Europe.
Amongst the 82 countries 29 formed the Elite destinations in December 2009, with total ex-ports at US$134 million and accounting for 90% of total value. Over half of Indian export was accounted by seven countries namely Bangladesh, South Korea, Brazil, China, Italy, Egypt and Turkey. The highest export value to any individual country was US$20 million (Bangladesh)
This month, about half of all destinations (40 countries) reported positive increase in imports of spun yarn from India as against 46 in the month of November. Among the growing destinations, the exports to major destinations like South Korea, Brazil, Colombia, Hong Kong, Poland, Vietnam, Argentina and Malaysia recorded 100-300% increases with traditional markets seen reviving.
In this report we have covered the profile of Sri Lanka, one of the major trading partners in India’s foreign trade. In case of spun yarn, Sri Lanka sources a large proportion of its requirement of yarn and fabric, particular made of cotton, from India.
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