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China's cotton imports continue to slide
23
May '14
The declining trend in China’s cotton imports continued in the month of April 2014.
 
According to customs statistics, China imported 224,000 tons of cotton in April, showing a decline of 47.9 percent year-on-year. However, the figure was 2,300 tons or 1 percent more than March 2014 imports.
 
The average import price in April 2014 worked out to US$ 2,087/ton, up 7.5 percent year-on-year. Compared to March 2014, the average price showed an increase of $25/ton or 1.2 percent, the data showed.
 
In the first four months of 2014, China’s total cotton imports stood at 985,000 tons, which is a decrease of 45.2 percent year-on-year.
 
During the ongoing cotton season from September 2013 till April 2014, China’s total cotton imports stood at 2.109 million tons, down 33.4 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 by China 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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