China's cotton imports continue to fall

16 Jul '15

1 min read

Cotton imports by China are continuing to show downtrend. In June 2015, China’s cotton imports stood at 161,800 tons, down 25.9 per cent year-on-year and 0.8 per cent month-on-month, China Cotton Association said citing customs data.

The average import price during the month was $1,804 per ton, down $58 per ton or 3.4 per cent from May 2015 and 15.4 per cent from June 2014.

From January to June 2015, China’s total cotton imports declined by 33 per cent year-on-year to 933,900 tons, the data showed.

During the first ten months of the ongoing cotton season beginning September 2014, China imported a total of 1.495 million tons, down 40.6 per cent compared to the corresponding period of the previous season.

Analysts attribute the drop in Chinese cotton imports to lack of import quotas and relatively high international prices. The Chinese government has only issued 894,000 tonnes of import quotas this year, which is the minimum required under the country’s WTO commitments.

On the other hand, the price difference between cotton from other countries and domestic cotton is narrowing down, and textile mills are not finding importing cotton attractive. (RKS)

Fibre2Fashion News Desk - India

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