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China's cotton imports continue to be high in August
29
Aug '12
The quantity of arrival of imported cotton at Chinese ports continues to be high in August, and experts estimate the total cotton imports by China in 2012 to touch 5.50 million tons by August-end.
 
In July 2012, China imported 405,830 tons of cotton, compared to 157,066 tons of cotton imported in July last year.
 
From January to July this year, China’s overall cotton imports stood at 3.46 million tons, much higher than the 1.48 million tons of cotton imported during the corresponding period of 2011.
 
For the new cotton season, the Chinese Government is scheduled to begin cotton purchase and storage on September 6. The Government had already announced reserve purchase price of 20,400 Yuan/ton for the purchase.
 
Industry analysts are stressing on the need for some reforms in the Chinese cotton policy in order to make domestic cotton more competitive compared to imported cotton.
 

Fibre2fashion News Desk - China

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