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China's cotton yarn imports surge in Jan-Sept'13
16
Nov '13
The imports of cotton yarn made by China in January to September 2013 surged by 44.15 percent year-on-year to 1.568 million tons, according to the Customs statistics. China imported 1.528 million tons of cotton yarn during the first nine months of last year.
 
In August 2013, China’s cotton yarn imports exceeded 200,000 tons for the first time, with an increase of 34 percent year-on-year.
 
The trend continued in September, which saw cotton yarn imports crossing 200,000 tons, registering a sharp increase of 46 percent year-on-year.
 
The rise in cotton yarn imports has made it difficult for small cotton spinning mills to do business.
 
One of the reasons for the rise in cotton yarn imports is the Chinese Government’s policy of temporary cotton purchase for state reserves.
 
When China began implementing its policy of cotton purchase for state reserves in 2011, the aim was to support its farmers. In the process, prices of cotton in China’s domestic market became 40 percent higher than international prices.
 
Thus, while supporting cotton growers, the Government’s policy has damaged the interests of Chinese textile enterprises. The policy has resulted in reduced cotton supply in Chinese domestic market, forcing the textile industry to depend on imports.
 
Unlike cotton, cotton yarn imports do not have any quota restrictions, and hence, traders prefer to import cotton yarn, instead of cotton, from other countries, especially India and Pakistan.
 

Fibre2fashion News Desk - India

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