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China's cotton imports fall sharply in Jan'14
17 Feb '14
1 min read
The imports of cotton by China in January 2014 fell sharply compared to December 2013 as well as January 2013, according to the latest data.
In January 2014, China imported 292,500 tons of cotton, registering a decrease of 316,100 tons or 51.94 percent compared to imports of 608,600 tons made in December 2013, according to the Chinese customs statistics.
On a year-on-year basis, China’s January 2014 cotton imports declined by 165,000 tons or 36.07 percent.
During the ongoing cotton season from September 2013 till January 2014, China’s total cotton imports stood at 1,416,400 tons, showing a decrease of 411,400 tons or 22.51 percent year-on-year.
In the previous cotton season from September 2012 to August 2013, China imported 4.396 million tons of cotton, down 19.2 percent year-on-year.
The decline in cotton imports is in line with the expected government policy of giving subsidy to cotton farmers and various other measures, which are expected to narrow the difference between prices of domestic cotton and imported cotton.
Market analysts expect the trend of declining cotton imports to continue this year.
Fibre2fashion News Desk - India
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