Home / Knowledge / News / Textiles / Gap between imported & domestic cotton price grows
Gap between imported & domestic cotton price grows
18
Oct '08
In September, due to the difficulties faced by the textile industry, domestic cotton price continued to fall.

Landed mill price for domestic standard class averaged at 13,130 Yuan/ton in September, down 592 Yuan or 4.3 percent from the previous month. October contracts at the National Cotton Exchange averaged at 12,949 Yuan/ton, down 568 Yuan or 4.2 percent from the previous month.

While in Zhengzhou cotton futures market, November contract averaged at 13,019 Yuan/ton, down 550 Yuan or 4.1 percent from the previous month.

September was impacted by the U.S. financial crisis due to which market confidence suffered a serious setback. Funds fled from futures markets and international commodity futures prices also fell across the board.

In New York, October contract of cotton futures averaged at 60.92 cents/lb, down 6.23 cents / lb or 9.3 percent from the previous month. In major Asian ports, CIF price at main ports was 77.10 cents/lb, down 1.44 cents/lb or 1.8 percent from the previous month.

If based on calculation of 1 percent tariff, the import price gets converted into 13,645 Yuan/ton, 515 Yuan higher than domestic market price, the price spread enlarged by 298 Yuan/ton compared to last month.

If based on floating tariff, the landing price gets translated to 14,069 Yuan/ton, 939 Yuan higher than domestic market price, with the gap in prices compared to last month rising by 438 Yuan/ton.

For cotton imports, China implements tariff quota system, that is, to cotton imports with quota restrictive volume are applied to one percent tariff rate, cotton imports outside quota restrictive volume are applied to a floating tariff rate.

According to 2008 tariff adjustment issued by the Tariff Policy Commission of the State Council, 2008, floating tariff for cotton imports outside quota restrictive volume is 5 - 40 percent,

Any cotton imports, on which tariff imposed is less than 5 percent, will be levied a additional specific duty of 0.57 Yuan/kg.

Fibre2fashion News Desk - China


Must ReadView All

SIMA makes pre-budget recommendations to Indian govt

Textiles | On 22nd Jan 2018

SIMA makes pre-budget recommendations to Indian govt

Exemption of 5 per cent goods and services tax (GST) on raw cotton,...

Building of Ethiopian textile unit by Chinese firm starts

Textiles | On 22nd Jan 2018

Building of Ethiopian textile unit by Chinese firm starts

Chinese firm Wuxi No. 1 Cotton Mill will build a textile plant in...

Indian minister urges apparel industry for dumping data

Textiles | On 22nd Jan 2018

Indian minister urges apparel industry for dumping data

Indian textiles minister Smriti Irani recently urged the apparel...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search