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China's cotton imports dip significantly in Oct'13
Nov '13
In October 2013, China’s cotton imports dropped significantly by 48.1 percent year-on-year to 141,000 tons, according to the Chinese customs statistics.
On a quarter-on-quarter basis, however, the decline in cotton imports was lower at 29.76 percent.
From January to October 2013, China has imported a total of 3.366 million tons of cotton, recording a decrease of 21.7 percent year-on-year.
In fact, China’s cotton imports have declined gradually since July 2013.
The sharp decline in China’s cotton imports are attributed to four reasons. First, China releasing cotton from its state reserve, which increased supply of cotton in the domestic market.
Secondly, poor quality and consistency of the US and Indian cotton. From January to September 2013, China’s total cotton imports from the US and India were 1.037 million tons and 838,200 tons, which were much lower than the quantity imported during the corresponding period in 2011 and 2012.
Thirdly, large quantity of cotton yarn imports made by textile mills effectively decreased the need for importing cotton.
Finally, the general trade import quotas on cotton strictly regulated the commodity’s import.

Fibre2fashion News Desk - India

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