COVID Hits Indian Denim Industry Hard, Export Falls By 31% In March 2020

Covid 19 has had a major impact on various industries globally and textile / apparel is one of the worst hit . Denim being a part of this industry is even more hit with most large retailers around the world shutting doors on their stores . India exports a lot of denim fabrics and in this report we analyse how the impact of Covid19 can be seen on the exports.
We are covering the denim export from India in March 2020 and later in the report, we compare it with the export of March 2019 to understand the impact of COVID 19 on Indian Denim Industry.

The analysis will be in three parts

  1. Countrywise Export Analysis
  2. Leading Denim Suppliers
  3. Comparative Analysis – March’19 V. March’20
#Particulars /Content of the report
1Table showing country wise Denim Exports along with Average Price and % Share of countries for March’20
2Graphs showing month wise Denim Exports, Average Price and %Share of countries for March’20
3Table showing Leading Denim Suppliers along with Average Price and % Share March’20
4Graphs showing Leading Denim Suppliers along with Average Price and % Share March’20
5Tables and Graphs Showing Comparative Analysis of country wise Denim Exports along with Average Price In March’19 and March’20
6Table and Graphs Showing Comparative Analysis of Leading Denim Suppliers along with Average Price In March’19 and March’20
Table of Content

COUNTRY WISE DENIM EXPORTS MARCH 2020

There are 12 major countries where India exported approx 90% out of its total exports. The list primarily included Bangladesh, Egypt, Colombia, and Sri Lanka. Total export from India stood at 14.75 million meters at an average price of $2.15/meter.

In March’20, a major portion of denim was exported to Bangladesh which was approx. 45% and the total export figure stood at 6.63 million meters and it was exported at an average price at $2.36/m. The 2nd major country where exports were made was Colombia which had a 15% share in the total export in the same month.

The total export made to Egypt was 0.86 million meters at an average price of $1.79/m. Sri Lanka is at #4 and imported 0.49 million meters of denim fabric from India at an average price of $2.98/m which is the most expensive average price paid by any country in March’20.

Exporting CountryVolume(Million Meters)Price($/Meter)% Share
Bangladesh6.632.3645%
Colombia2.221.8915%
Egypt0.861.796%
Sri Lanka0.492.983%
El Salvador0.482.053%
Chile0.472.023%
Turkey0.362.082%
Lesotho0.362.172%
Mexico0.352.132%
Madagascar0.351.912%
United Arab Emirates0.331.512%
Republic of Korea0.331.792%
Others1.521.9410%
Total14.752.15100%
Export Of Denim Fabric From India In March 2020

COMPANY WISE DENIM EXPORTS

So far as the leading denim suppliers are concerned, In the month March’20, the top three denim suppliers were as below:

  1. Arvind Denim – Total Denim Exported was 2.83 million meters at an average price of $2.63/m. Total share in export is 19%. Bangladesh, Sri Lanka, Turkey and Venezuela are major exporting countries for Arvind.
  2. Raymond UCO Denim – Total Denim Exported was 1.61 million meters at an average price of $3.13/m. Total share in export is 11%. Bangladesh, Sri Lanka, and Thailand are major exporting countries for Raymond.
  3. Jindal Denim – Total Denim Exported was 1.54 million meters at an average price of $1.91/m. Total share in export is 10%. Bangladesh, Chile, Lesotho and Colombia are major exporting countries for Jindal Denim.

Oswal Denim supplied the fabrics at the least average price of $1.68/m and Raymond UCO at the most expensive price of $3.13/m. The leading buyers of Indian Denim Fabric include Armana Group, Ananta Garments, Artistic Designs, Kenpark, Hiradarmani, Refat Garments, Denimach,Tusuka, Kenpark, FGS Denim, CRS Denim Garments, and FJ MAGALHAES LDA.

Exporter NameVolume(Million Meters)Price($/Meter)% ShareExporting
Countries
ARVIND LIMITED2.832.6319%Bangladesh,
Sri lanka, Turkey and Venezuela
RAYMOND UCO DENIM PRIVATE LIMITED1.613.1311%Bangladesh Srilanka Thailand
JINDAL WORLDWIDE LTD1.541.9110%Bangladesh Chile, Lesotho ,and Columbia
ULTRA DENIM PVT LTD0.981.727%Bangladesh,
Egypt, South Africa, and Turkey
SANGAM INDIA LIMITED0.931.926%Bangladesh, Guatemala, Chile, and Mexico
MANOMAY TEX INDIA LIMITED0.841.926%Bangladesh ,Chile and Columbia
NANDAN DENIM LIMITED0.591.814%Bangladesh Egypt and USA
OSWAL WOOLLEN MILLS LTD0.541.684%Bangladesh and Germany
BHASKAR INDUSTRIES PVT LTD0.522.094%Bangladesh, Republic of Korea and Sri Lanka
AARVEE DENIMS AND EXPORTS LTD0.511.783%Bangladesh, Columbia , USA and Guatemala
SURYALAKSHMI COTTON MILLS LTD0.441.963%Bangladesh and S.Korea 
RSWM LIMITED0.422.273%Bangladesh, S.Korea, Sri Lanka
OTHERS2.981.8420%
Leading Denim Fabric Exporters From India

Denim Export – March’20 V March’19

Compared to the export in March’19, the export in March’20 fell by 31.20% and the reason is pressure on demand globally due to the COVID19 pandemic. Since the stores are closed and all the fresh buying orders are on hold, and hence the raw material’s demand took a toll.

The biggest export destination of Indian denim fabric is Bangladesh where the export fell from 9.52 million meter to 6.63 million meter(-30%), also the average price discounted from $2.59/m to $2.36/m (9%).

Exporting CountryMarch 2019 March 2020%Change
Bangladesh9.526.63-30.36%
Columbia1.62.2238.75%
Egypt2.710.86-68.27%
Sri Lanka0.780.49-37.18%
Others6.834.55-33.38%
Total21.4414.75-31.20%
Leading Denim Exporting Destinations In March’19 V. March’20( Million Meters)
Exporting CountryPrice – March’19Price – March’20% Change
Bangladesh2.592.36-8.88%
Columbia1.891.890.00%
Egypt1.711.794.68%
Sri Lanka2.442.9822.13%
Average Price($/Meter) Of Leading Export Destinations In March’19 V. March’20

Leading Denim Exporters- March’19 V. March’20

So far as the exporters are concerned, Arvind’s export plunged by over 36% which brought down the volume from 4.44 million meters to 2.83 million meters. The average price also discounted more than 8% and fell unto the level of $2.63/m

Exporter NameExports (March 2019)Exports (March 2020)% Change
ARVIND4.442.83-36.28%
RAYMOND2.051.61-21.60%
JINDAL1.391.5410.94%
ULTRA1.660.98-40.74%
SANGAM1.490.93-37.31%
Leading Denim Exporters ( March’20 V. March19 ) Volume in Million Meters

Average Price – March’20 V. March’19

Exporter NamePrice – March’19Price – March’20% Change
ARVIND2.872.63-8.36%
RAYMOND 2.943.136.46%
JINDAL1.961.91-2.55%
ULTRA DENIM1.631.725.52%
SANGAM INDIA1.681.9214.29%
Leading Exporters’ Average Price($/Meter) For ( March’20 & March’19)

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