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China must fall on imports to fill cotton demand gap
20
Jul '12
It is necessary for China to import cotton to fill its domestic demand-supply gap.
 
On average, China produces about seven million tons of cotton per annum, compared to its domestic consumption of about 10 million tons every year. Thus, there is a shortfall of around three million tons per year, which can only be filled through imports.
 
Since the import quota is only for 894,000 tons, China has to import another over two million tons of cotton under the high floating tax to meet its rigid demand per year.
 
Industry analysts believe that the Government is not likely to sell from its reserves at this time owing to the prevailing stable trend in domestic cotton prices. So, imports alone can make up for the shortfall in demand.
 
From January to May this year, China imported 2.58 million tons of cotton, showing an increase of 113.8 percent year-on-year, according to the data released by the National Development and Reform Commission.
 

Fibre2fashion News Desk - China

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