Raw Silk Price Trend and Forecast

Raw Silk Regional Price Overview

Get the latest insights on price movement and trend analysis of Raw Silk in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Raw Silk Price Trend for the Second Half of 2024

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The Raw Silk price curve witnessed notable oscillations throughout the second half of 2024 globally. According to the Raw Silk price database, the Indian raw silk market faced mixed fortunes, with several challenges shaping the trend. In states like Andhra Pradesh, a key hub for silk saree production, the market struggled. This was largely due to cultural factors, such as the inauspicious Shukra Moodham and the Ashadha month, which traditionally see a drop in silk saree sales. As a result, traders were left with unsold stock, and business activity slowed significantly in the first half of the period.
 

Raw Silk Price Chart

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At the same time, raw silk prices rose due to reduced silk imports, particularly from China. With imports halting, local producers faced higher raw material costs, pressuring the industry. In handloom centers like Madanapalle, many weavers had to reduce their work frequency to cope with rising costs, leading to fewer production days.

In China, raw silk prices fluctuated in the second half of 2024. Prices averaged about 69,405 USD/MT in October and around 65,153 USD/MT in December. Prices climbed in July and August due to seasonal supply constraints and steady demand. However, by mid-September, higher inventory levels and slowing exports dragged prices down, reflecting weaker international demand. The fourth quarter brought only brief price recoveries before another decline.

Analyst Insight

According to Procurement Resource, the Raw Silk price graph is likely to follow a fluctuating trajectory in the coming months, primarily influenced by changes in weather patterns that affect both the quality and quantity of the commodity.
 

Raw Silk Price Trend for the First Half of 2024

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Raw silk prices in China had a rollercoaster ride in the first half of 2024. The prices were about 69522 USD/MT in January and around 68160 USD/MT in June. At the start of the year, prices steadily climbed as demand from textile and apparel manufacturers remained strong. Limited supply and active buying from both domestic and international markets kept prices on an upward trend, pushing the market higher.

Midway through the period, prices peaked as supply shortages became more noticeable and production struggled to keep up. However, this didn’t last long. A sharp drop followed as more supply became available, and demand started slowing down. Reduced export activity and shifts in global trade patterns added more pressure, dragging prices down further.

Toward the end of the period, prices started to level out but remained below their earlier highs. Buyers adjusted their purchasing strategies, and the market settled into a more stable phase. Despite the fluctuations, raw silk prices reflected the broader shifts happening in the textile industry during this time.

Analyst Insight

According to Procurement Resource, the Raw Silk price curve is expected to fluctuate and gradually increase as current inventory levels remain moderate and demand is anticipated to rise in the near future.
 

Raw Silk Price Trend for the Second Half of 2023

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The Raw Silk price curve in China steadily climbed through the second half of 2023 as several challenges emerged in the silk sector. Prices were around 62,745 USD/MT in July and approximately 69,363 USD/MT in December. The market gained momentum as both domestic and international buyers increased their orders, pushing prices higher. Limited raw material availability and rising labor costs added further pressure, keeping the market on an upward trajectory.

With consistent demand from the textile and apparel sectors, there was little room for prices to decline. Supply chain disruptions and inconsistent production levels led to occasional fluctuations, but overall, the market remained stable, and prices stayed elevated.

Towards the end of the period, prices began to stabilize but remained high. Minor corrections occurred as production slowed, yet strong demand prevented any significant drops. Even as the year concluded, raw silk prices remained at high levels, reflecting ongoing supply challenges and steady purchasing activity.

Analyst Insight

According to Procurement Resource, the raw silk price graph is expected to witness slight improvements in the near future as the demand from the downstream sector is projected to pick up.
 

Raw Silk Price Trend for the First Half of 2023

Raw Silk observed mixed price trend during the said period. In the beginning, the prices rose in the winter months of January and February. However, a persistent decline in Raw Silk price trend was observed in the Chinese market.

In the first half of the first quarter, the winter season and the impending Chinese New Year called for increased demands since silk is extensively used in Chinese traditional clothing and is a winter-friendly fabric. The Raw Silk prices rose by approx—64289 USD/MT from January to February. Further, the spot prices stood at around 61228 USD/MT in June’23, after depreciating by about 5% within five months after Feb’23.

Analyst Insight

According to Procurement Resource, the Raw Silk price trend will likely increase going forward in the second half of the year, given the arrival of the winter season and anticipated increase in customer demands.

Procurement Resource provides latest prices of Raw Silk. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.