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Cotton production contracts owing to inflation
05
Jun '08
China Cotton Association along with other organizations recently held 2008 Forum in Hangzhou city, to discuss about the Development of Chinese Cotton Industry. The decreased cotton output of domestic industry has made international cotton dealers worried.

The textile industry has undergone rapid development in recent times making China the biggest consumer and importer of cotton in the world. However, many factors like RMB appreciation and rising cost of production, has affected the growth. As a result, the import quantity of cotton has gradually gone down. It is estimated that, China will import nearly 2.60 million tons of cotton from September 2007 to August 2008.

From September 2007 to March 2008, China imported almost 1.323 million tons of cotton. Of the total, nation's demand from India accounted for 37.9 percent, making it first among global suppliers, second in the list is American that accounted for 34.9 percent.

It is for the first time that Indian cotton had the biggest share in Chinese market, as this cotton was about US $0.03 dollars per pound cheaper than American ones in terms of price.

Fibre2fashion News Desk - China

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