Indian Cotton Exports Rise In Feb 2021, While Imports Drop

Market Intelligence

Indian Cotton Exports Rise In Feb 2021, While Imports Drop

India's cotton exports rose by 4.9% in February 2021 to US$ 702.19 million over the previous month (Jan 2021). Bangladesh remains the top market for Indian cotton, but witnessed a drop of 8% to US$ 193.19 million in February. An increase in demand from China and Vietnam has stabilised Indian cotton commodity in the export market. Exports of China totalled to US$ 167.33 million with a growth of 39% in Feb 2021 over the previous month. While exports to Vietnam totalled to US$ 60.05 million with 36.2% growth. Nigeria, the tenth largest market too perceived a growth of 7.33% to US$ 9.51 million. The other six top markets i.e. Sri Lanka, Indonesia, Korea, Colombia, Peru, Egypt and USA have witnessed a drop. Indian raw cotton exports increased by 8.53% in February 2021 in the international market. The exports of raw cotton to the world totalled to US$ 267.19 million and unit value realisation (UVRs) for this commodity in February was US$ 1.78 per kg Commodity-wise, cotton yarn remains as the highest exported product. In February 2021, cotton yarn exports rose by 5.8% to US$ 275.19 million over the previous month. On an average, Indian cotton yarn was priced at US$ 3.26 per kg. Exports of cotton fabrics witnessed a drop of 1.7% to US$ 159.8 million in Feb 2021. India's cotton imports fell 27.5% in Feb 2021 India's cotton imports have dropped by 27.5% to US$ 49.27 million in Feb 2021 over the previous month. Raw cotton imports to India totalled to US$ 33.6 million with a drop of 36.9% in February 2021. Cotton imports from USA dipped by 50.4% in Feb 2021 to US$ 11.48 million over the previous month, where the imports totalled to US$ 23.17 million. Due to low imports from USA, Egypt was the top cotton supplier to India. Imports from Egypt totalled to US$ 13.19 million with a drop of 1.4% in February 2021. Cotton yarn and cotton fabric imports to India increased by 63.4% and 18.2% respectively in February 2021 over the previous month.