Synthetic Yarn Price in India Drops to $3,231 per Ton

India Synthetic Yarn Export Price in September 2022

In September 2022, the synthetic yarn price stood at $3,231 per ton (FOB, India), with a decrease of -4.5% against the previous month. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2022 an increase of 1.8% against the previous month. As a result, the export price reached the peak level of $3,394 per ton. From June 2022 to September 2022, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In September 2022, the country with the highest price was the United States ($5,063 per ton), while the average price for exports to Kenya ($2,010 per ton) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

India Synthetic Yarn Export Prices by Type

There were significant differences in the average prices for the major types of exported product. In September 2022, the product with the highest price was yarn (not sewing thread), of man-made staple fibres, put up for retail sale ($6,860 per ton), while the average price for exports of yarn (other than sewing thread) of synthetic staple fibres, not put up for retail sale ($3,008 per ton) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for the following types: yarn (other than sewing thread) of artificial staple fibres, not put up for retail sale (+0.7%), while the prices for the other products experienced a decline.

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India Synthetic Yarn Exports

In September 2022, shipments abroad of yarn of synthetic or artificial staple fibers decreased by -0.3% to 18K tons, falling for the second consecutive month after two months of growth. In general, exports saw a perceptible setback. The growth pace was the most rapid in March 2022 when exports increased by 17% against the previous month. As a result, the exports reached the peak of 26K tons. From April 2022 to September 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, synthetic yarn exports dropped to $57M (IndexBox estimates) in September 2022. Over the period under review, exports continue to indicate a pronounced downturn. The pace of growth appeared the most rapid in March 2022 with an increase of 16% m-o-m. As a result, the exports attained the peak of $87M. From April 2022 to September 2022, the growth of the exports remained at a lower figure.

India Synthetic Yarn Exports by Type

Yarn (other than sewing thread) of synthetic staple fibres, not put up for retail sale (15K tons) was the largest type of synthetic yarn exported from India, accounting for a 86% share of total exports. Moreover, yarn (other than sewing thread) of synthetic staple fibres, not put up for retail sale exceeded the volume of the second product type, yarn (other than sewing thread) of artificial staple fibres, not put up for retail sale (2.1K tons), sevenfold.

From January 2022 to September 2022, the average monthly rate of growth in terms of the volume of export of yarn (other than sewing thread) of synthetic staple fibres, not put up for retail sale totaled -2.8%. With regard to the other exported products, the following average monthly rates of growth were recorded: yarn (other than sewing thread) of artificial staple fibres, not put up for retail sale (-7.9% per month) and yarn (not sewing thread), of man-made staple fibres, put up for retail sale (-0.3% per month).

In value terms, yarn (other than sewing thread) of synthetic staple fibres, not put up for retail sale ($46M) remains the largest type of synthetic yarn exported from India, comprising 80% of total exports. The second position in the ranking was taken by yarn (other than sewing thread) of artificial staple fibres, not put up for retail sale ($8.7M), with a 15% share of total exports.

From January 2022 to September 2022, the average monthly growth rate of the export volume of yarn (other than sewing thread) of synthetic staple fibres, not put up for retail sale totaled -3.1%. With regard to the other exported products, the following average monthly rates of growth were recorded: yarn (other than sewing thread) of artificial staple fibres, not put up for retail sale (-7.3% per month) and yarn (not sewing thread), of man-made staple fibres, put up for retail sale (-0.3% per month).

India Synthetic Yarn Exports by Country

Turkey (3.5K tons), Brazil (2.6K tons) and Kenya (984 tons) were the main destinations of synthetic yarn exports from India, together comprising 40% of total exports.

From January 2022 to September 2022, the biggest increases were in Brazil (with a CAGR of +15.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic yarn exported from India were Turkey ($11M), Brazil ($6.4M) and the United States ($4.9M), with a combined 39% share of total exports.

Brazil, with a CAGR of +11.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Factors Affecting Synthetic Yarn Prices

India remains one of the largest producers and suppliers of synthetic yarns in the world. The country has a large base of manufacturers who are able to produce high-quality synthetic yarns at competitive prices. Additionally, India has a strong presence in the global market for synthetic yarns, with exports accounting for a significant share of total production.

Synthetic yarns are used in a variety of industries, including the textile, automotive, and construction sectors. The price increase has been felt most acutely in the textile industry, where synthetic yarns are used extensively.

In India, the prices of synthetic yarns have been on the rise in recent years. This is due to a number of factors, including the increasing cost of raw materials, higher energy costs, and increased competition from other countries.

The most significant factor has been the rising cost of crude oil, which is a major input used in the production of synthetic yarns. Additionally, there has been an increase in demand for synthetic yarns from sectors such as textile and apparel, leading to higher prices. Furthermore, the depreciation of the Indian rupee against the US dollar has also contributed to higher prices for synthetic yarns in India.

Source: IndexBox Market Intelligence Platform