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China's cotton import volume slightly rebounds
23 Nov '12
1 min read
The volume of cotton import by China slightly rebounded last month as the gap between domestic and international cotton prices widened.
In October, there was a small increase in Chinese domestic cotton prices, owing to support from state purchase and reserve policy. On the other hand, international cotton prices continued to decline, which further increased the price gap between domestic and imported cotton.
This resulted in a rise in cotton imports from the southern hemisphere countries like Australia and Brazil. However, cotton imports from India continued to decline.
During the month, China imported 272,000 tons of cotton, showing an increase of 20,000 tons or 7.8 percent year-on-year, according to customs statistics. On a month-on-month basis, Chinese cotton imports grew 3.5 percent.
The average import price was US$ 2,287/ton in October, down 3 percent from import price of US$ 2,216/ton in September. On a year-on-year basis, the price declined by 27.7 percent.
From January to October 2012, China’s cotton imports totaled 4.3 million tons, registering a year-on-year increase of 95.8 percent.
Fibre2fashion News Desk - China
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