Coronavirus: Cotton industry suffers as China accounted for one-third of exports

Coronavirus: Cotton industry suffers as China accounted for one-third of exports

The coronavirus outbreak in China has not spared India’s cotton yarn exports either and has begun exerting pressure on yarn realizations, which since the beginning of February 2020 have corrected by 2-3 percent.

The domestic cotton spinning industry is highly dependent on exports, particularly to China, with 30% of the country’s cotton yarn being exported, and China accounting for nearly one-third of recent years ‘ exports.

This follows a brief recovery seen in India’s cotton yarn exports in the month of January 2020 when exports exceeded an estimated 100 million kgs, following a weak performance nine consecutive months earlier, in line with India’s historical monthly average.

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