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Tight cotton supply hikes prices
21
Jan '08
According to the Customs statistics, Ningbo Port accumulated 44,000 tons of raw cotton imports in 2007, a drop of 55.8 percent from 2006, worth of US $64.75 million, down 51.2 percent.

The average price of raw cotton imports via this Port in 2007 was $1457 per ton, a rise of 10.4 percent over 2006. Ningbo imported 21,000 tons of raw cotton from India and 1.7 million tons from the US in 2007, a decrease of 33.9 percent and 61.5 percent, respectively. Imports from the two countries together accounted for 86.3 percent of total imports.

From imports of raw cotton via Ningbo Port in 2007, a series of macro-control policies issued by the state on cotton imports has produced good results.

However, due to China's high-speed growth of textile industry for many years, the base is growing, resulting in the ever existing gap between domestic cotton supply and demand. Since the second half of last year, cotton supply has been tight and cotton price has increased.

Fibre2fashion, News Desk - China

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