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China's cotton imports dip 31% y-o-y in May 2013
Jun '13
China imported 345,800 tons of cotton in May 2013, showing a 31.1 percent decline compared to the same month last year, according to the Customs statistics.
Compared to April 2013, China’s cotton imports in May were lower by 85,100 tons or 19.8 percent.
The average cotton import price in May was US$ 2,038/ton, up US$ 96 over average import price in April, but 14.4 percent lower compared to average price a year ago.
The cumulative volume of cotton imports made by China during January to May 2013 stood at 2.141 million tons, down 17 percent year-on-year.
During the first nine months of the current cotton season 2012/13, China imported 3.513 million tons of cotton, showing a decline of 17.4 percent year-on-year.
Among the major cotton import sources, only import from Australia increased in volume, while cotton imports from the US showed a slight decline in May 2013, according to ‘China Cotton Monthly Report – May’ released by the China Cotton Association.
While the US accounted for nearly 50 percent of all cotton imports by China in May, India’s share declined to less than 10 percent during the month.
The average price of cotton imported from Brazil decreased by 10.65 percent, while that from Australia was down by 0.77 percent. The average price of cotton imported from India, Uzbekistan and the US increased by 3.78 percent, 3.54 percent and 2.52 percent, respectively.
More than 70 percent of imported cotton arrived at the Chinese ports of Qingdao, Nanjing and Shanghai in May 2013.
Buyers from Beijing, Jiangsu and Shandong purchased nearly 80 percent of all imported cotton during the month.

Fibre2fashion News Desk - India

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