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Cotton import witness a substantial increase in March
25
Apr '08
In 2007, total cotton yield of China reached nearly 7.6 million tons, observing an annual growth of 1.3 percent. In March, total import of cotton came up to almost 1.32 million tons, experiencing a rise of 18 percent.

Cotton procurement ended last month and acquisition progress was more than 90 percent of total production. Price of cotton seed remained stable at 6.1-6.2 yuan per kilogram.

In the first quarter, average price of cotton index 328 grades was nearly 13,722 yuan per ton, which showed that overall fluctuation was less than 2 percent.

In March, yarn output as well as textile and apparel exports clearly rebounded in comparison to January and February. However, in the first quarter total yarn output growth was lower than the same period of 2007.

Last month, cotton imports of China increased significantly compared to February. Total imports in Q1 this year, reached 528,000 tons representing a rise of 4 percent over the same period last year, out of which imports from India accounted for 56 percent.

Industry insiders expect that, the national cotton planting area along with cotton production will remain stable this year.

According to National Bureau of Statistics, in 2006, total cotton output of China touched 7.5 million tons and yarn output was around 19.19 million tons. Data show that the nation imported 2.28 million tons of cotton and generated revenue from textile and garment worth $161.6 billion.

Fibre2fashion News Desk - China

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