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Cotton imports via Guangdong drop in volume
31
Jul '08
The recent statistics provided by Gongbei Customs shows that, in the first half of this year, a total of 50,000 tons of cotton worth US $81.72 million was imported through Guangdong ports, registering a drop of 15.4 percent in terms of volume and an increase of 2.7 percent in terms of value compared to the same period last year.

Although, imports in the month of June dipped marginally compared to the previous year, it rose substantially over the previous month. Cotton imports in June via Guangdong ports touched 14,000 tons. This set the record for the largest import volume in a single month since the beginning of this year.

While cotton imports for general trade increased considerably, those made for processing trade reported a decline. In fact, imports by foreign –invested, state owned and private enterprises also dropped substantially.

US, India and Australia emerged as the largest exporter of cotton to China. In the first six months of this year, imports from US were 22,000 tons, down by 24.4 percent and accounting for 44.1 percent of the total imports made via Guangdong port. On the other hand, imports from India were 13,000 tons, down 3.7 percent and accounting for 26.8 percent while those from Australia touched 6820 tons, down 24.9 percent and accounting for 13.7 percent.


Fibre2fashion News Desk - China


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