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China's cotton imports dip sharply in Q1
21 Apr '15
1 min read
Cotton imports by China fell sharply by over 40 per cent in the first three months of the current year.
From January to March 2015, China imported 448,000 tons of cotton, registering a decrease of 41 per cent year-on-year, according to customs statistics. In terms of value, cotton imports stood at 4.66 billion yuan, down 50.1 per cent year-on-year. The average import price also decreased by 15.4 per cent to 10,400 yuan per ton.
In March 2015, China’s cotton imports stood at 127,900 tons, showing a decline of 42.4 per cent year-on-year and 19.6 per cent month-on-month, China Cotton Association said citing customs data. The average import price during the month was 10,600 yuan per ton, down 15.7 per cent over March 2014, and up 2.1 per cent compared to February 2015.
China’s March imports were affected by the US West Coast port strike.
During the first seven months of the ongoing cotton season beginning September 2014, China imported a total of 1.0097 million tons, down 41.1 per cent over the previous season. (RKS)
Fibre2fashion News Desk - India
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