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Volume of cotton imports goes up at Shandong port
24
Mar '08
Cotton imports from Shandong port are showing a rising trend. According to statistics released by Qingdao Customs authorities, Shandong port imported 1,36,000 tons of cotton in the first two months of 2008, up 33.5 percent from the same period in 2007.

In 2007, cotton import price at Shandong ports indicated an upward trend amid volatility, with the average price in December breaking the US $1500 per ton barrier. In 2008, cotton import price continued its rising trend moving to a record high of US $1,578 per ton in February.

Imports of cotton from India accounted for the majority share of all cotton imports through the port. Imports from India touched 85,000 tons, an increase of 78.6 percent, accounting for more than 6 percent of total cotton imports via Shandong port.

Imports from the United States reached 21,000 tons, an increase of 28.7 percent; from Uzbekistan totaled 7,000 tons, down 27.4 percent and from Mexico touched 4000 tons.

Cotton imports for general trade and bonded warehouse doubled, while imports meant for further value addition declined.

State-owned enterprises and private enterprises were main importers at 46,000 tons and 45,000 tons respectively, up 2 percent and 57.3 percent, together accounting for 66.9 percent of total imports while Foreign invested enterprises imported 21,000 tons, an increase of 19.7 percent.

Fibre2fashion News Desk - China

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