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Cotton imports register sharp decline in 2008
21 Jan '09
1 min read
According to customs statistics, China's cotton imports registered 168,000 tons, a drop of 154,000 tons year-on-year, or down 47.7 percent in the month of December 2007. The country's total cotton imports in 2008 reached 2,111,000 tons, a decline of 347,000 tons year-on-year, or 14.1 percent.
As of December, China's annual cotton imports in the new 2008 cotton year, added up to 470,000 tons, a reduction of 326,000 tons year-on-year, or 41 percent. These figures are not surprising if seen in the light of the slow off take of domestic cotton in local markets in the last few months.
The cotton industry has been going through a period of acute distress since the beginning of the new cotton season in 2008. Prices have bottomed out as well as there is a lull in demand from the textiles mills for the white gold. In 2007, China was one of the largest importers of cotton worldwide.
As of December, China's annual cotton imports in the new 2008 cotton year, added up to 470,000 tons, a reduction of 326,000 tons year-on-year, or 41 percent. These figures are not surprising if seen in the light of the slow off take of domestic cotton in local markets in the last few months.
The cotton industry has been going through a period of acute distress since the beginning of the new cotton season in 2008. Prices have bottomed out as well as there is a lull in demand from the textiles mills for the white gold. In 2007, China was one of the largest importers of cotton worldwide.
Fibre2fashion News Desk - China
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