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Cotton imports maintain upward trend in July
22
Aug '08
According to Customs Statistics, total cotton imports via Guangdong ports reached 67,000 tons from January to July this year, showcasing a year-on-year decline of 4.8 percent. The average import price was almost US $1,653, witnessing an increase of 21.7 percent from the same time of 2007.

However, imports touched 17,000 tons in month of July, a substantial growth of 48.6 percent, the highest import volume for a single month in 2008 and first rebound after the upheavals experienced by the sector in first half of this year.

Average import price continued the upward trend in the first seven months of 2008. The average price of cotton imports via Guangdong ports held an increase of about 20 percent from January to July.

However, the average price of imports indicated a rising trend afterwards, the price of June imports was around $1,708 per ton, highest in 2008, July average was approximately $1,669 per ton.

The imports from two major suppliers US and India decreased to some degree, whereas imports from Mexico observed a rapid growth and reached 3,486 tons, boosting 4.1 times when compared to first seven months of 2007.

In these seven months, cotton imports from the United States were 33,000 tons and from India 14,000 tons via Guangdong ports, observing a drop of 5 and 5.5 percent, respectively. The two nations together accounted for 69.9 percent of Guangdong's total cotton imports.

In first seven months of 2008, cotton imports of foreign investment enterprises via Guangdong ports were 36,000 tons, up 2.3 percent from the same time last year and that of state-owned companies were 19,000 tons, a hike of 6 percent. In addition, cotton imports by collective factories were 3,637 tons, down 39.1 percent.

Fibre2fashion News desk - China

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