Price of Indian Narrow Woven Fabric Surges to $6,731 per Ton

India Narrow Woven Fabric Import Price in March 2023

In March 2023, the narrow woven fabric price amounted to $6,731 per ton (CIF, India), with an increase of 23% against the previous month. Over the period under review, the import price, however, continues to indicate a pronounced contraction. Over the period under review, average import prices reached the maximum at $10,128 per ton in March 2022; however, from April 2022 to March 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In March 2023, the country with the highest price was Hong Kong ($29,036 per ton), while the price for Malaysia ($3,660 per ton) was amongst the lowest.

From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+1.3%), while the prices for the other major suppliers experienced mixed trend patterns.

India Narrow Woven Fabric Import Prices by Type

There were significant differences in the average prices amongst the major supplied products. In March 2023, the product with the highest price was labels, badges and similar articles; of textile materials, in the piece, in strips or cut to shape or size, not embroidered ($12,493 per ton), while the price for fabrics; narrow woven, other than goods of heading no. 5807; narrow fabrics consisting of warp without weft assembled by means of an adhesive (bolducs) ($5,691 per ton) was amongst the lowest.

From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by labels, badges and similar articles; of textile materials, in the piece, in strips or cut to shape or size, not embroidered (+4.7%), while the prices for the other products experienced a decline.

India Narrow Woven Fabric Imports

In March 2023, overseas purchases of narrow woven fabrics decreased by -7.7% to 1.6K tons, falling for the second consecutive month after two months of growth. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in April 2022 when imports increased by 38% against the previous month.

In value terms, narrow woven fabric imports rose notably to $11M (IndexBox estimates) in March 2023. Overall, imports continue to indicate a pronounced descent.

India Narrow Woven Fabric Imports by Type

In March 2023, fabrics; narrow woven, other than goods of heading no. 5807; narrow fabrics consisting of warp without weft assembled by means of an adhesive (bolducs) (1.2K tons) constituted the largest type of narrow woven fabric supplied to India, with a 74% share of total imports. Moreover, fabrics; narrow woven, other than goods of heading no. 5807; narrow fabrics consisting of warp without weft assembled by means of an adhesive (bolducs) exceeded the figures recorded for the second-largest type, braids in the piece; ornamental trimmings in the piece, without embroidery, other than knitted or crocheted; tassels, pompons and similar articles (250 tons), fivefold.

From March 2022 to March 2023, the average monthly rate of growth in terms of the volume of import of fabrics; narrow woven, other than goods of heading no. 5807; narrow fabrics consisting of warp without weft assembled by means of an adhesive (bolducs) stood at +1.1%. With regard to the other supplied products, the following average monthly rates of growth were recorded: braids in the piece; ornamental trimmings in the piece, without embroidery, other than knitted or crocheted; tassels, pompons and similar articles (+4.8% per month) and labels, badges and similar articles; of textile materials, in the piece, in strips or cut to shape or size, not embroidered (-6.6% per month).

In value terms, fabrics; narrow woven, other than goods of heading no. 5807; narrow fabrics consisting of warp without weft assembled by means of an adhesive (bolducs) ($6.8M) constituted the largest type of narrow woven fabric supplied to India, comprising 63% of total imports. The second position in the ranking was held by labels, badges and similar articles; of textile materials, in the piece, in strips or cut to shape or size, not embroidered ($2.1M), with a 20% share of total imports.

India Narrow Woven Fabric Imports by Country

In March 2023, China (982 tons) constituted the largest narrow woven fabric supplier to India, accounting for a 61% share of total imports. Moreover, narrow woven fabric imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (150 tons), sevenfold. The third position in this ranking was taken by the Philippines (107 tons), with a 6.6% share.

From March 2022 to March 2023, the average monthly growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Taiwan (Chinese) (+10.2% per month) and the Philippines (+5.3% per month).

In value terms, China ($4.3M) constituted the largest supplier of narrow woven fabric to India, comprising 40% of total imports. The second position in the ranking was held by Hong Kong ($2M), with an 18% share of total imports. It was followed by Sri Lanka, with an 8% share.

From March 2022 to March 2023, the average monthly rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Hong Kong (-2.9% per month) and Sri Lanka (-4.3% per month).

Source: IndexBox Market Intelligence Platform