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China's cotton imports drop in May 2014
17
Jun '14
The declining trend in China’s cotton imports continued in the month of May 2014, with average import price showing a slight increase.
 
According to customs statistics, China imported 191,500 tons of cotton in May, showing a decline of 32,900 tons or 14.6 percent over April 2014 imports. The drop was even greater at 44.6 percent on a year-on-year basis.
 
The average import price of cotton in May 2014 worked out to US$ 2,137/ton, up $50 or 2.4 percent over April 2014 price of $2,087/ton. The average price increased by 4.9 percent compared to May 2013, the data showed.
 
In the first five months of 2014, China’s total cotton imports stood at 1,176,500 tons, which is a decrease of 45.1 percent year-on-year.
 
During the first nine months of the ongoing cotton season from September 2013 till May 2014, China’s total cotton imports stood at 2.3 million tons, down 34.5 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 China’s 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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