According to foreign news on January 30, the rating agency ICRA stated in a report that India’s cotton yarn exports are expected to increase significantly by 85-90% in fiscal year 2024 due to the expected shift in China’s purchasing preferences. , and improved spring and summer demand in the United States and the European Union, which will boost demand from domestic apparel and home textile manufacturers. <\/p>\n
However, cotton prices have slowed significantly, resulting in a decline in cotton yarn realized prices, which may result in a year-on-year decline of 8-9% in revenue to 33,465 rupees in fiscal 2024. <\/p>\n
Cotton yarn exports usually account for 25-35% of India’s cotton yarn production, with the remainder contributed by the domestic market. Although cotton yarn exports fell significantly (53%) in FY2023, the trend has reversed in the current fiscal year. <\/p>\n
ICRA estimates that India\u2019s cotton yarn exports will grow by 85-90% year-on-year in fiscal year 2024. Bangladesh, China, and Vietnam account for 60% of these exports. <\/p>\n
As the Asian market accounts for 70% of Indian yarn exports, the Red Sea conflict is not expected to have an immediate impact on Indian yarn exports. However, the continuation of the conflict will have a direct impact on clothing export volumes, thereby affecting domestic and export demand for cotton yarn and its realization. <\/p<\/p>\n","protected":false},"excerpt":{"rendered":"
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