Indian MMF Textile Exports Drop 12% Between April & Aug
In the first five months of fiscal 2024 ending August 2023, MMF textile exports declined 12 percent year on year to $2.26 billion from $2.56 billion in the comparable period of 2022.
Manmade fibre (MMF) textile exports in August from India reached US $471 million, dropping 4.8 percent from $495 million in the same month of previous year.
A report from the Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) informed that in the month of August 2023, MMF fabric overseas shipments witnessed a growth of 15 percent.
But the growth in MMF fabric exports was nullified by fall in exports of other MMF product segments like fibres, yarns and made-ups in August this year.
MMF fabric exports accounted for 38 percent of all MMF textile exports and so emerged as the biggest export earner in the months between April and August 2023.
Exports of yarns came second with 29 percent share, made-ups with 25 percent and fibres accounted for 8 percent share in MMF textile exports.
In the review period, polyester filament yarns (PFY) accounted for 47 percent share of overall MMF yarn exports, while PC spun yarn followed with 9 percent export share.
In the period from April to August 2023, exports of viscose staple fibre (VSF) exports witnessed a significant year on year growth at 83 percent.
However, shipments of polyester staple fibre (PSF) fell 32 percent and partially oriented yarn (POY) slipped by a massive 55 percent in the reporting period.